Sumitomo Mitsui DS Asset Management Company Ltd Decreases Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Sumitomo Mitsui DS Asset Management Company Ltd cut its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,910 shares of the software maker’s stock after selling 79 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Manhattan Associates were worth $1,382,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Tobam purchased a new position in shares of Manhattan Associates during the first quarter worth approximately $25,000. Innealta Capital LLC purchased a new position in shares of Manhattan Associates during the second quarter worth approximately $26,000. International Assets Investment Management LLC purchased a new position in shares of Manhattan Associates during the second quarter worth approximately $27,000. DT Investment Partners LLC purchased a new position in shares of Manhattan Associates during the second quarter worth approximately $31,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Manhattan Associates in the second quarter worth $31,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Manhattan Associates

In other news, EVP James Stewart Gantt sold 6,000 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the sale, the executive vice president now owns 46,287 shares in the company, valued at approximately $11,872,615.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.72% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on MANH shares. Robert W. Baird lifted their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday. 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 note on Monday, September 16th. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Citigroup lifted their target price on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Finally, DA Davidson lifted their target price on shares of Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $275.75.

Manhattan Associates Stock Down 1.1 %

NASDAQ:MANH opened at $292.32 on Wednesday. The stock has a market cap of $18.00 billion, a P/E ratio of 95.53 and a beta of 1.50. The firm’s fifty day simple moving average is $272.92 and its 200 day simple moving average is $246.07. Manhattan Associates, Inc. has a twelve month low of $182.97 and a twelve month high of $307.50.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.22. The business had revenue of $265.30 million for the quarter, compared to analysts’ expectations of $255.83 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share. On average, analysts expect that Manhattan Associates, Inc. will post 3.01 EPS for the current fiscal year.

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.