Alpha DNA Investment Management LLC Reduces Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Alpha DNA Investment Management LLC cut its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 48.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,785 shares of the software maker’s stock after selling 2,574 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in Manhattan Associates were worth $687,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MANH. Tobam purchased a new position in shares of Manhattan Associates in the 1st quarter valued at approximately $25,000. Innealta Capital LLC acquired a new stake in shares of Manhattan Associates during the second quarter worth $26,000. Benjamin Edwards Inc. purchased a new stake in shares of Manhattan Associates during the first quarter valued at $27,000. International Assets Investment Management LLC acquired a new position in shares of Manhattan Associates in the 2nd quarter valued at $27,000. Finally, Contravisory Investment Management Inc. purchased a new position in Manhattan Associates in the 1st quarter worth $31,000. 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 dated Tuesday, July 30th. The stock was 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 directly owns 46,287 shares in the company, valued at approximately $11,872,615.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

MANH has been the topic of several research analyst reports. DA Davidson boosted their price target on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Citigroup upped their target price on Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Loop Capital lifted their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Manhattan Associates currently has a consensus rating of “Moderate Buy” and a consensus price target of $260.29.

Manhattan Associates Trading Up 1.7 %

Shares of NASDAQ:MANH opened at $286.00 on Wednesday. Manhattan Associates, Inc. has a 12-month low of $182.97 and a 12-month high of $287.63. The business has a 50 day moving average of $254.71 and a two-hundred day moving average of $240.65. The company has a market capitalization of $17.52 billion, a PE ratio of 93.46 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.22. The firm had revenue of $265.30 million during the quarter, compared to analysts’ expectations of $255.83 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The business’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.63 EPS. Equities research analysts predict that Manhattan Associates, Inc. will post 3.01 earnings per share for the current fiscal year.

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.