Federated Hermes Inc. Sells 744 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Federated Hermes Inc. decreased its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 7.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,748 shares of the software maker’s stock after selling 744 shares during the period. Federated Hermes Inc.’s holdings in Manhattan Associates were worth $2,405,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MANH. Private Advisor Group LLC bought a new position in Manhattan Associates in the fourth quarter valued at approximately $270,000. Panagora Asset Management Inc. grew its stake in shares of Manhattan Associates by 54.6% in the fourth quarter. Panagora Asset Management Inc. now owns 2,751 shares of the software maker’s stock valued at $592,000 after buying an additional 971 shares in the last quarter. Norges Bank acquired a new position in Manhattan Associates during the fourth quarter worth $146,984,000. Coldstream Capital Management Inc. raised its position in Manhattan Associates by 8.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,567 shares of the software maker’s stock worth $553,000 after acquiring an additional 204 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Manhattan Associates by 1.9% in the fourth quarter. Wells Fargo & Company MN now owns 369,315 shares of the software maker’s stock valued at $79,521,000 after acquiring an additional 6,754 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Buying and Selling

In other news, EVP James Stewart Gantt sold 6,000 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the completion of the sale, the executive vice president now directly owns 46,287 shares in the company, valued at approximately $11,872,615.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.72% of the stock is currently owned by company insiders.

Manhattan Associates Price Performance

MANH stock opened at $275.17 on Friday. Manhattan Associates, Inc. has a fifty-two week low of $182.97 and a fifty-two week high of $278.08. The stock has a market capitalization of $16.94 billion, a price-to-earnings ratio of 89.48 and a beta of 1.50. The business’s fifty day moving average price is $251.58 and its two-hundred day moving average price is $240.14.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on MANH shares. Citigroup raised their target price on shares of Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a research note on Friday, June 28th. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. DA Davidson raised 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. Finally, Loop Capital raised their price target on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $260.29.

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.