Scientech Research LLC Cuts Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Scientech Research LLC trimmed its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 58.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 829 shares of the software maker’s stock after selling 1,158 shares during the period. Scientech Research LLC’s holdings in Manhattan Associates were worth $204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of MANH. Corient Private Wealth LLC raised its holdings in Manhattan Associates by 88.7% during the fourth quarter. Corient Private Wealth LLC now owns 4,368 shares of the software maker’s stock worth $941,000 after purchasing an additional 2,053 shares in the last quarter. Stifel Financial Corp boosted its holdings in Manhattan Associates by 4.6% in the 4th quarter. Stifel Financial Corp now owns 59,921 shares of the software maker’s stock valued at $12,902,000 after purchasing an additional 2,608 shares in the last quarter. Bank of Nova Scotia increased its position in Manhattan Associates by 101.8% during the 4th quarter. Bank of Nova Scotia now owns 2,971 shares of the software maker’s stock worth $640,000 after purchasing an additional 1,499 shares during the period. KBC Group NV purchased a new position in shares of Manhattan Associates during the 4th quarter worth approximately $1,381,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of Manhattan Associates by 0.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 11,772 shares of the software maker’s stock valued at $2,535,000 after buying an additional 108 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MANH shares. DA Davidson increased their price objective on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Loop Capital raised their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Citigroup upped their target price on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Finally, StockNews.com downgraded 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $264.57.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH opened at $274.75 on Wednesday. The business’s fifty day moving average price is $260.54 and its two-hundred day moving average price is $241.66. The stock has a market cap of $16.92 billion, a PE ratio of 89.79 and a beta of 1.50. Manhattan Associates, Inc. has a one year low of $182.97 and a one year high of $287.63.

Manhattan Associates (NASDAQ:MANH) last announced its 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. The firm had revenue of $265.30 million for the quarter, compared to analyst estimates of $255.83 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. Manhattan Associates’s revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.63 earnings per share. As a group, equities research analysts predict that Manhattan Associates, Inc. will post 3.01 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP James Stewart Gantt sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were 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 through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

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.