abrdn plc Reduces Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

abrdn plc lessened its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 3.4% in the third quarter, HoldingsChannel reports. The firm owned 22,612 shares of the software maker’s stock after selling 786 shares during the quarter. abrdn plc’s holdings in Manhattan Associates were worth $6,332,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in Manhattan Associates by 47.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker’s stock worth $334,000 after purchasing an additional 382 shares in the last quarter. Boston Trust Walden Corp boosted its stake in Manhattan Associates by 3.3% in the 2nd quarter. Boston Trust Walden Corp now owns 109,542 shares of the software maker’s stock worth $27,022,000 after buying an additional 3,525 shares during the last quarter. Mediolanum International Funds Ltd boosted its stake in Manhattan Associates by 602.0% in the 3rd quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker’s stock worth $5,607,000 after buying an additional 17,187 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Manhattan Associates in the 1st quarter worth about $2,407,000. Finally, SG Americas Securities LLC boosted its stake in Manhattan Associates by 399.7% in the 1st quarter. SG Americas Securities LLC now owns 13,417 shares of the software maker’s stock worth $3,357,000 after buying an additional 10,732 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

MANH has been the topic of a number of research analyst reports. Loop Capital raised their price target on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Citigroup raised their price target on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. DA Davidson raised their price target on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Truist Financial lifted their price objective on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $286.38.

Manhattan Associates Price Performance

NASDAQ MANH opened at $264.35 on Friday. The business’s 50-day simple moving average is $275.85 and its 200-day simple moving average is $248.10. The firm has a market capitalization of $16.15 billion, a P/E ratio of 75.10 and a beta of 1.52. Manhattan Associates, Inc. has a 1-year low of $198.45 and a 1-year high of $307.50.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping the consensus estimate of $1.06 by $0.29. The firm had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. Manhattan Associates’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 EPS. On average, equities research analysts expect that Manhattan Associates, Inc. will post 3.4 EPS 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.