Intech Investment Management LLC Cuts Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Intech Investment Management LLC lowered its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 60.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 19,288 shares of the software maker’s stock after selling 29,475 shares during the quarter. Intech Investment Management LLC’s holdings in Manhattan Associates were worth $5,427,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Fidelis Capital Partners LLC raised its holdings in shares of Manhattan Associates by 3.2% during the third quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock valued at $347,000 after acquiring an additional 40 shares during the last quarter. UMB Bank n.a. boosted its stake in Manhattan Associates by 16.7% during the 3rd quarter. UMB Bank n.a. now owns 301 shares of the software maker’s stock worth $85,000 after purchasing an additional 43 shares during the last quarter. SkyView Investment Advisors LLC grew its holdings in shares of 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 buying an additional 46 shares in the last quarter. Huntington National Bank lifted its stake in shares of Manhattan Associates by 5.9% in the third quarter. Huntington National Bank now owns 879 shares of the software maker’s stock worth $247,000 after buying an additional 49 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in Manhattan Associates by 3.3% during the third quarter. CIBC Asset Management Inc now owns 1,798 shares of the software maker’s stock worth $506,000 after acquiring an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Up 3.1 %

Manhattan Associates stock opened at $280.40 on Friday. Manhattan Associates, Inc. has a 52-week low of $199.23 and a 52-week high of $307.50. The company’s 50 day moving average is $280.92 and its two-hundred day moving average is $254.34. The firm has a market cap of $17.13 billion, a PE ratio of 79.66 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH) last released its 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 during the quarter, compared to analysts’ expectations 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 firm posted $0.79 EPS. On average, equities research analysts anticipate that Manhattan Associates, Inc. will post 3.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on MANH shares. Raymond James raised their target price on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Truist Financial lifted their price objective on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Citigroup upped their target price on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Loop Capital raised their price objective 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. Four analysts have rated the stock with a hold rating and six have assigned 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 target price 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.