Mutual of America Capital Management LLC Has $8.70 Million Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Mutual of America Capital Management LLC cut its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 3.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,253 shares of the software maker’s stock after selling 1,430 shares during the period. Mutual of America Capital Management LLC owned approximately 0.06% of Manhattan Associates worth $8,696,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Tobam acquired a new stake in shares of Manhattan Associates during the first quarter worth $25,000. Innealta Capital LLC acquired a new stake in shares of Manhattan Associates during the second quarter worth $26,000. Benjamin Edwards Inc. acquired a new stake in shares of Manhattan Associates during the first quarter worth $27,000. International Assets Investment Management LLC acquired a new position in Manhattan Associates in the second quarter valued at about $27,000. Finally, Contravisory Investment Management Inc. acquired a new position in Manhattan Associates in the first quarter valued at about $31,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock opened at $269.20 on Thursday. The firm has a market cap of $16.57 billion, a price-to-earnings ratio of 87.97 and a beta of 1.50. The stock’s 50-day moving average is $251.12 and its 200-day moving average is $239.94. Manhattan Associates, Inc. has a one year low of $182.97 and a one year high of $276.99.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.22. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The business had revenue of $265.30 million for the quarter, compared to analyst estimates of $255.83 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. Manhattan Associates’s revenue was up 14.8% on a year-over-year basis. On average, equities analysts expect that Manhattan Associates, Inc. will post 3.01 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Citigroup boosted their target price on Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a research note on Friday, June 28th. DA Davidson boosted their target price on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Loop Capital boosted their target price on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $260.29.

Insider Buying and Selling

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the company’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 sale, the executive vice president now owns 46,287 shares in the company, valued at $11,872,615.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is currently owned by corporate insiders.

Manhattan Associates Company 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.