Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division trimmed its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 92.0% in the third quarter, HoldingsChannel.com reports. The firm owned 174 shares of the software maker’s stock after selling 2,004 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Manhattan Associates were worth $49,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Tobam acquired a new stake in Manhattan Associates in the first quarter worth approximately $25,000. Innealta Capital LLC acquired a new stake in Manhattan Associates in the second quarter worth approximately $26,000. Benjamin Edwards Inc. acquired a new stake in Manhattan Associates in the first quarter worth approximately $27,000. International Assets Investment Management LLC acquired a new stake in shares of Manhattan Associates during the 2nd quarter valued at $27,000. Finally, Contravisory Investment Management Inc. acquired a new stake in shares of Manhattan Associates during the 1st quarter valued at $31,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH traded up $5.13 during mid-day trading on Friday, reaching $282.41. The company had a trading volume of 284,020 shares, compared to its average volume of 408,703. Manhattan Associates, Inc. has a twelve month low of $182.97 and a twelve month high of $287.63. The stock has a market capitalization of $17.39 billion, a PE ratio of 92.29 and a beta of 1.50. The stock’s 50 day moving average is $262.18 and its 200-day moving average is $242.40.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly 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. 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 the consensus estimate of $255.83 million. During the same period in the prior year, the business posted $0.63 earnings per share. Manhattan Associates’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Manhattan Associates, Inc. will post 3.01 EPS for the current year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction on 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 transaction, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at $11,872,615.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.72% of the company’s stock.

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.