Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Global Retirement Partners LLC

Global Retirement Partners LLC cut its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 5.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,145 shares of the software maker’s stock after selling 239 shares during the period. Global Retirement Partners LLC’s holdings in Manhattan Associates were worth $1,166,000 as of its most recent SEC filing.

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

Insider Transactions at Manhattan Associates

In other news, EVP James Stewart Gantt sold 6,000 shares of Manhattan Associates 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 completion of the transaction, the executive vice president now owns 46,287 shares in the company, valued at approximately $11,872,615.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MANH shares. Citigroup lifted their target price on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Truist Financial upped their target price on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. DA Davidson raised their target price on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Loop Capital raised their target price on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $271.71.

Manhattan Associates Stock Down 2.1 %

MANH stock opened at $298.28 on Friday. Manhattan Associates, Inc. has a 52-week low of $182.97 and a 52-week high of $307.50. The stock’s 50 day moving average is $271.95 and its two-hundred day moving average is $245.66. The company has a market capitalization of $18.37 billion, a PE ratio of 97.48 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data 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. The company had revenue of $265.30 million for the quarter, compared to the consensus estimate of $255.83 million. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. Manhattan Associates’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 EPS. As a group, sell-side analysts anticipate 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.