Profund Advisors LLC Decreases Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Profund Advisors LLC lowered its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 26.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,786 shares of the software maker’s stock after selling 648 shares during the period. Profund Advisors LLC’s holdings in Manhattan Associates were worth $441,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Corient Private Wealth LLC increased its position in shares of Manhattan Associates by 88.7% during the fourth quarter. Corient Private Wealth LLC now owns 4,368 shares of the software maker’s stock worth $941,000 after purchasing an additional 2,053 shares in the last quarter. Quest Partners LLC acquired a new position in Manhattan Associates during the 4th quarter valued at about $77,000. Assetmark Inc. raised its stake in Manhattan Associates by 18,400.0% in the fourth quarter. Assetmark Inc. now owns 1,295 shares of the software maker’s stock valued at $279,000 after buying an additional 1,288 shares during the last quarter. Advisory Services Network LLC boosted its holdings in Manhattan Associates by 52.2% in the fourth quarter. Advisory Services Network LLC now owns 4,082 shares of the software maker’s stock worth $879,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of Manhattan Associates by 82.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 26,894 shares of the software maker’s stock worth $5,791,000 after acquiring an additional 12,124 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

Shares of MANH opened at $284.13 on Thursday. The business’s 50-day moving average is $255.91 and its two-hundred day moving average is $240.96. The company has a market capitalization of $17.49 billion, a P/E ratio of 92.85 and a beta of 1.50. Manhattan Associates, Inc. has a fifty-two week low of $182.97 and a fifty-two week high of $287.63.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, July 23rd. The software maker reported $1.18 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 firm had revenue of $265.30 million for the quarter, compared to analyst estimates of $255.83 million. During the same period last year, the company earned $0.63 earnings per share. Manhattan Associates’s revenue for the quarter was up 14.8% compared to the same quarter last year. Analysts forecast that Manhattan Associates, Inc. will post 3.01 EPS for the current year.

Analyst Ratings Changes

MANH has been the subject of a number of recent analyst reports. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. DA Davidson lifted their price objective on shares of Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Loop Capital upped their target price 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 raised their target price on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $264.57.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of Manhattan Associates stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total value of $1,539,000.00. Following the completion of the transaction, the executive vice president now owns 46,287 shares of the company’s stock, valued at $11,872,615.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.72% of the company’s stock.

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.