Massmutual Trust Co. FSB ADV Lowers Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Massmutual Trust Co. FSB ADV reduced its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 7.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,893 shares of the software maker’s stock after selling 146 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Manhattan Associates were worth $533,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MANH. Bank of Nova Scotia raised its position in Manhattan Associates by 101.8% in the 4th quarter. Bank of Nova Scotia now owns 2,971 shares of the software maker’s stock valued at $640,000 after purchasing an additional 1,499 shares in the last quarter. KBC Group NV purchased a new position in Manhattan Associates in the fourth quarter valued at $1,381,000. CIBC Private Wealth Group LLC increased its stake 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 purchasing an additional 108 shares during the last quarter. Goldman Sachs Group Inc. raised its stake 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 worth $86,465,000 after acquiring an additional 62,031 shares in the last quarter. Finally, 1832 Asset Management L.P. acquired a new position in Manhattan Associates in the fourth quarter valued at $1,796,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on MANH. DA Davidson lifted their target price 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. Citigroup lifted 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 downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Loop Capital boosted their price target on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $264.57.

Manhattan Associates Stock Up 1.9 %

Shares of NASDAQ:MANH opened at $282.41 on Friday. Manhattan Associates, Inc. has a fifty-two week low of $182.97 and a fifty-two week high of $287.63. The firm’s 50-day simple moving average is $261.70 and its 200-day simple moving average is $242.16. The company has a market cap of $17.39 billion, a price-to-earnings ratio of 92.29 and a beta of 1.50.

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, beating 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%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.63 EPS. On average, research analysts forecast that Manhattan Associates, Inc. will post 3.01 EPS for the current year.

Insiders Place Their Bets

In related news, EVP James Stewart Gantt sold 6,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is currently owned by company insiders.

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.