Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Sunbelt Securities Inc.

Sunbelt Securities Inc. lessened its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 6.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 593 shares of the software maker’s stock after selling 44 shares during the quarter. Sunbelt Securities Inc.’s holdings in Manhattan Associates were worth $167,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MANH. Wealth Enhancement Advisory Services LLC increased its stake in shares of Manhattan Associates by 15.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,080 shares of the software maker’s stock worth $513,000 after acquiring an additional 280 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in shares of Manhattan Associates by 26.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,348 shares of the software maker’s stock valued at $1,319,000 after buying an additional 1,105 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Manhattan Associates by 238.4% in the 2nd quarter. Blue Trust Inc. now owns 555 shares of the software maker’s stock valued at $139,000 after buying an additional 391 shares during the period. Chesley Taft & Associates LLC boosted its stake in shares of Manhattan Associates by 20.8% in the second quarter. Chesley Taft & Associates LLC now owns 2,035 shares of the software maker’s stock worth $502,000 after buying an additional 351 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in Manhattan Associates by 16.9% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 3,872 shares of the software maker’s stock worth $955,000 after acquiring an additional 560 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Manhattan Associates

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Raymond James boosted their price target on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Loop Capital raised their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Piper Sandler assumed coverage on shares of Manhattan Associates in a report on Monday, November 25th. They issued an “overweight” rating and a $326.00 price objective for the company. Robert W. Baird raised their target price on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Finally, DA Davidson lifted their price target on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and seven have given 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 price target of $290.78.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock opened at $298.17 on Friday. The stock has a market capitalization of $18.21 billion, a P/E ratio of 84.71 and a beta of 1.50. The business has a 50 day simple moving average of $286.25 and a two-hundred day simple moving average of $262.25. Manhattan Associates, Inc. has a 12 month low of $199.23 and a 12 month high of $312.60.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating the consensus estimate of $1.06 by $0.29. The firm had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 EPS. As a group, research analysts anticipate that Manhattan Associates, Inc. will post 3.39 EPS for the current fiscal year.

Manhattan Associates 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.