MAI Capital Management Lowers Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

MAI Capital Management reduced its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 44.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,557 shares of the software maker’s stock after selling 1,221 shares during the period. MAI Capital Management’s holdings in Manhattan Associates were worth $438,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fiera Capital Corp purchased a new stake in Manhattan Associates during the 2nd quarter valued at about $44,705,000. Squarepoint Ops LLC grew its holdings in shares of Manhattan Associates by 448.9% during the second quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker’s stock valued at $39,629,000 after buying an additional 131,381 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Manhattan Associates by 118.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker’s stock valued at $48,860,000 after buying an additional 94,283 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of Manhattan Associates by 27.2% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 385,311 shares of the software maker’s stock valued at $94,898,000 after acquiring an additional 82,420 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Manhattan Associates in the 2nd quarter worth approximately $19,606,000. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Price Performance

Shares of MANH stock opened at $280.40 on Friday. The company has a market cap of $17.13 billion, a price-to-earnings ratio of 79.66 and a beta of 1.52. Manhattan Associates, Inc. has a 1 year low of $199.23 and a 1 year high of $307.50. The firm has a fifty day moving average price of $280.92 and a 200-day moving average price of $254.34.

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

Wall Street Analyst Weigh In

MANH has been the subject of several research analyst reports. Citigroup lifted their price objective on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. DA Davidson increased their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Loop Capital lifted their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, Robert W. Baird boosted their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $286.38.

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.