Inspire Investing LLC Sells 135 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Inspire Investing LLC cut its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 1.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 9,825 shares of the software maker’s stock after selling 135 shares during the period. Inspire Investing LLC’s holdings in Manhattan Associates were worth $2,424,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MANH. Tobam bought a new position in shares of Manhattan Associates during the 1st quarter valued at $25,000. Innealta Capital LLC bought a new position in shares of Manhattan Associates during the 2nd quarter valued at $26,000. Benjamin Edwards Inc. bought a new position in shares of Manhattan Associates during the 1st quarter valued at $27,000. International Assets Investment Management LLC bought a new position in shares of Manhattan Associates during the 2nd quarter valued at $27,000. Finally, Contravisory Investment Management Inc. bought a new position in shares of Manhattan Associates during the 1st quarter valued at $31,000. 98.45% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the completion of the transaction, the executive vice president now owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. DA Davidson increased their price target on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Loop Capital upped their price objective on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Citigroup upped their price objective on Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Manhattan Associates has an average rating of “Moderate Buy” and a consensus price target of $260.29.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $269.20 on Thursday. Manhattan Associates, Inc. has a 52-week low of $182.97 and a 52-week high of $276.99. The firm has a market capitalization of $16.57 billion, a PE ratio of 87.97 and a beta of 1.50. The stock has a fifty day simple moving average of $251.58 and a two-hundred day simple moving average of $240.14.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.22. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The business had revenue of $265.30 million during the quarter, compared to analyst estimates of $255.83 million. During the same quarter in the prior year, the business posted $0.63 EPS. Manhattan Associates’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, sell-side analysts forecast that Manhattan Associates, Inc. will post 3.01 EPS for the current fiscal year.

Manhattan Associates Profile

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.