First Hawaiian Bank Trims Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

First Hawaiian Bank decreased its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 20.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,046 shares of the software maker’s stock after selling 263 shares during the period. First Hawaiian Bank’s holdings in Manhattan Associates were worth $283,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in shares of Manhattan Associates by 47.5% in the third quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker’s stock worth $334,000 after buying an additional 382 shares in the last quarter. Mediolanum International Funds Ltd lifted its stake in Manhattan Associates by 602.0% in the 3rd quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker’s stock worth $5,607,000 after purchasing an additional 17,187 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Manhattan Associates by 213.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after purchasing an additional 687,933 shares during the period. Chartwell Investment Partners LLC grew its position in shares of Manhattan Associates by 31.1% during the 3rd quarter. Chartwell Investment Partners LLC now owns 21,557 shares of the software maker’s stock valued at $6,065,000 after purchasing an additional 5,119 shares in the last quarter. Finally, Toronto Dominion Bank increased its holdings in shares of Manhattan Associates by 30.9% in the third quarter. Toronto Dominion Bank now owns 7,842 shares of the software maker’s stock worth $2,207,000 after purchasing an additional 1,850 shares during the period. Institutional investors own 98.45% of the company’s stock.

Insider Activity

In other news, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the transaction, the senior vice president now owns 22,086 shares in the company, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value of $1,001,147.50. Following the completion of the sale, the executive vice president now directly owns 42,812 shares in the company, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Manhattan Associates Price Performance

Shares of MANH stock opened at $265.38 on Friday. The business has a 50-day moving average of $282.69 and a 200 day moving average of $269.22. Manhattan Associates, Inc. has a 1-year low of $205.12 and a 1-year high of $312.60. The stock has a market capitalization of $16.21 billion, a PE ratio of 75.39 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping the consensus estimate of $1.06 by $0.29. The company had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 earnings per share. Analysts anticipate that Manhattan Associates, Inc. will post 3.39 EPS for the current year.

Analyst Upgrades and Downgrades

MANH has been the subject of several recent analyst reports. Citigroup boosted their target price on Manhattan Associates from $287.00 to $306.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. DA Davidson boosted their price objective on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird boosted their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Raymond James raised their price objective on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Truist Financial upped their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $292.89.

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.