Sunbelt Securities Inc. Has $157,000 Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Sunbelt Securities Inc. cut its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 18.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 637 shares of the software maker’s stock after selling 142 shares during the period. Sunbelt Securities Inc.’s holdings in Manhattan Associates were worth $157,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MANH. Tobam bought a new stake in Manhattan Associates during the first quarter worth about $25,000. Innealta Capital LLC bought a new stake in Manhattan Associates during the 2nd quarter worth approximately $26,000. Benjamin Edwards Inc. acquired a new stake in Manhattan Associates during the 1st quarter valued at $27,000. International Assets Investment Management LLC bought a new position in Manhattan Associates in the 2nd quarter valued at $27,000. Finally, Contravisory Investment Management Inc. acquired a new position in Manhattan Associates in the first quarter worth $31,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates 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 transaction, the executive vice president now owns 46,287 shares in the company, valued at $11,872,615.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

MANH has been the subject of a number of research reports. Citigroup raised their target price on 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. DA Davidson upped their target price on shares of Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Loop Capital raised their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Manhattan Associates currently has a consensus rating of “Moderate Buy” and a consensus target price of $264.57.

Manhattan Associates Price Performance

MANH opened at $277.28 on Friday. The firm has a 50 day simple moving average of $261.09 and a 200 day simple moving average of $241.91. Manhattan Associates, Inc. has a fifty-two week low of $182.97 and a fifty-two week high of $287.63. The company has a market cap of $17.07 billion, a price-to-earnings ratio of 90.61 and a beta of 1.50.

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

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.