Gulf International Bank UK Ltd Sells 257 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Gulf International Bank UK Ltd lessened its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 4.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,911 shares of the software maker’s stock after selling 257 shares during the period. Gulf International Bank UK Ltd’s holdings in Manhattan Associates were worth $1,663,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC increased its position in Manhattan Associates by 3.2% during the third quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock worth $347,000 after acquiring an additional 40 shares during the period. UMB Bank n.a. increased its position in Manhattan Associates by 16.7% during the third quarter. UMB Bank n.a. now owns 301 shares of the software maker’s stock worth $85,000 after acquiring an additional 43 shares during the period. SkyView Investment Advisors LLC increased its position in Manhattan Associates by 0.9% during the second quarter. SkyView Investment Advisors LLC now owns 5,018 shares of the software maker’s stock worth $1,238,000 after acquiring an additional 46 shares during the period. iA Global Asset Management Inc. increased its position in Manhattan Associates by 9.7% during the first quarter. iA Global Asset Management Inc. now owns 726 shares of the software maker’s stock worth $182,000 after acquiring an additional 64 shares during the period. Finally, Greenwood Capital Associates LLC increased its position in Manhattan Associates by 2.1% during the third quarter. Greenwood Capital Associates LLC now owns 3,183 shares of the software maker’s stock worth $896,000 after acquiring an additional 66 shares during the period. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

MANH opened at $283.67 on Friday. The firm’s 50-day simple moving average is $276.90 and its 200-day simple moving average is $249.36. Manhattan Associates, Inc. has a twelve month low of $199.23 and a twelve month high of $307.50. The firm has a market cap of $17.33 billion, a price-to-earnings ratio of 80.59 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The business had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. During the same quarter in the prior year, the firm earned $0.79 EPS. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Manhattan Associates, Inc. will post 3.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MANH has been the topic of a number of research reports. Raymond James boosted their target price on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Citigroup boosted their price target 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. DA Davidson boosted their price target on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Loop Capital boosted 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 investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus target price of $286.38.

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.