Tidal Investments LLC Reduces Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Tidal Investments LLC lowered its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 29.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,983 shares of the software maker’s stock after selling 830 shares during the period. Tidal Investments LLC’s holdings in Manhattan Associates were worth $558,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MANH. Innealta Capital LLC purchased a new stake in Manhattan Associates during the 2nd quarter worth about $26,000. International Assets Investment Management LLC bought a new stake in shares of Manhattan Associates during the second quarter valued at about $27,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Manhattan Associates in the second quarter worth about $31,000. Capital Performance Advisors LLP bought a new position in shares of Manhattan Associates in the third quarter valued at approximately $34,000. Finally, Ashton Thomas Securities LLC purchased a new position in Manhattan Associates during the third quarter valued at approximately $42,000. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Stock Performance

MANH stock opened at $280.26 on Monday. Manhattan Associates, Inc. has a one year low of $199.23 and a one year high of $312.60. The company has a market capitalization of $17.12 billion, a PE ratio of 79.62 and a beta of 1.50. The company’s 50 day moving average price is $286.00 and its two-hundred day moving average price is $264.73.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $262.90 million. During the same period in the previous year, the firm posted $0.79 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, research analysts predict that Manhattan Associates, Inc. will post 3.39 EPS for the current year.

Insider Activity

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the sale, the senior vice president now owns 22,086 shares of the company’s stock, valued at $6,398,976.78. This represents a 15.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the transaction, the executive vice president now owns 42,812 shares in the company, valued at $12,334,137.20. The trade was a 7.51 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Truist Financial raised their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday, October 11th. Citigroup boosted their target price on Manhattan Associates from $287.00 to $306.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Piper Sandler began coverage on Manhattan Associates in a report on Monday, November 25th. They issued an “overweight” rating and a $326.00 price target on the stock. Loop Capital boosted their price objective on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Finally, Robert W. Baird raised 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 equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and an average price target of $292.89.

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.