Thrivent Financial for Lutherans Cuts Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Thrivent Financial for Lutherans lowered its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 3.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,877 shares of the software maker’s stock after selling 551 shares during the period. Thrivent Financial for Lutherans’ holdings in Manhattan Associates were worth $3,670,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. CenterBook Partners LP purchased a new position in Manhattan Associates in the 4th quarter worth approximately $761,000. Vinva Investment Management Ltd grew its holdings in Manhattan Associates by 69.5% in the 4th quarter. Vinva Investment Management Ltd now owns 39,571 shares of the software maker’s stock worth $8,570,000 after acquiring an additional 16,229 shares during the last quarter. Boston Trust Walden Corp increased its position in shares of Manhattan Associates by 3.3% in the second quarter. Boston Trust Walden Corp now owns 109,542 shares of the software maker’s stock valued at $27,022,000 after acquiring an additional 3,525 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Manhattan Associates by 18.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 401,563 shares of the software maker’s stock valued at $86,465,000 after acquiring an additional 62,031 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of Manhattan Associates by 11.4% during the first quarter. Los Angeles Capital Management LLC now owns 427,326 shares of the software maker’s stock worth $106,930,000 after purchasing an additional 43,704 shares during the period. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Price Performance

NASDAQ:MANH opened at $280.25 on Friday. The firm’s 50-day moving average price is $258.44 and its 200-day moving average price is $241.32. The company has a market capitalization of $17.25 billion, a PE ratio of 91.58 and a beta of 1.50. Manhattan Associates, Inc. has a 1-year low of $182.97 and a 1-year high of $287.63.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 earnings per share 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 analysts’ expectations of $255.83 million. During the same quarter in the prior year, the company earned $0.63 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. Equities analysts anticipate that Manhattan Associates, Inc. will post 3.01 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Loop Capital boosted their price target on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th. Citigroup upped their target price on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a report on Wednesday. DA Davidson lifted their price target on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $264.57.

Insider Activity at Manhattan Associates

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

About Manhattan Associates

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.