B. Riley Wealth Advisors Inc. Sells 1,104 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

B. Riley Wealth Advisors Inc. reduced its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 25.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 3,264 shares of the software maker’s stock after selling 1,104 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Manhattan Associates were worth $805,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Bank of Nova Scotia raised 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 last quarter. KBC Group NV acquired a new position in shares of Manhattan Associates in the fourth quarter worth approximately $1,381,000. CIBC Private Wealth Group LLC boosted its holdings in Manhattan Associates by 0.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 11,772 shares of the software maker’s stock valued at $2,535,000 after acquiring an additional 108 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Manhattan Associates by 18.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 401,563 shares of the software maker’s stock valued at $86,465,000 after purchasing an additional 62,031 shares during the period. Finally, 1832 Asset Management L.P. bought a new position in Manhattan Associates during the 4th quarter worth approximately $1,796,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 6,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 46,287 shares in the company, valued at $11,872,615.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Manhattan Associates Trading Up 1.9 %

NASDAQ:MANH opened at $282.41 on Friday. Manhattan Associates, Inc. has a 12 month low of $182.97 and a 12 month high of $287.63. The stock has a market capitalization of $17.39 billion, a price-to-earnings ratio of 92.29 and a beta of 1.50. The firm has a fifty day simple moving average of $261.70 and a two-hundred day simple moving average of $242.16.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results 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. The company had revenue of $265.30 million for the quarter, compared to analyst estimates of $255.83 million. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. Manhattan Associates’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 earnings per share. Equities analysts predict that Manhattan Associates, Inc. will post 3.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MANH shares. Citigroup upped their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Loop Capital lifted their price objective on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, DA Davidson boosted their price objective on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $264.57.

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.