IFM Investors Pty Ltd Cuts Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

IFM Investors Pty Ltd cut its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,201 shares of the software maker’s stock after selling 273 shares during the quarter. IFM Investors Pty Ltd’s holdings in Manhattan Associates were worth $3,714,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Sunbelt Securities Inc. raised its position in Manhattan Associates by 57.1% in the 1st quarter. Sunbelt Securities Inc. now owns 779 shares of the software maker’s stock worth $195,000 after purchasing an additional 283 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Manhattan Associates by 67.7% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 3,312 shares of the software maker’s stock valued at $829,000 after acquiring an additional 1,337 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Manhattan Associates by 126.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 26,837 shares of the software maker’s stock valued at $6,715,000 after acquiring an additional 14,966 shares during the period. State of Michigan Retirement System grew its position in Manhattan Associates by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 16,131 shares of the software maker’s stock worth $4,036,000 after acquiring an additional 400 shares during the last quarter. Finally, Norden Group LLC purchased a new position in Manhattan Associates in the 1st quarter worth approximately $225,000. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Price Performance

Shares of MANH opened at $275.70 on Friday. The company has a 50-day simple moving average of $274.95 and a two-hundred day simple moving average of $247.04. The firm has a market capitalization of $16.89 billion, a PE ratio of 78.32 and a beta of 1.50. Manhattan Associates, Inc. has a one year low of $186.77 and a one year high of $307.50.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. The company 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 86.65% and a net margin of 21.38%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 EPS. Analysts expect that Manhattan Associates, Inc. will post 3.01 EPS for the current fiscal year.

Insider Activity

In related news, EVP James Stewart Gantt sold 6,000 shares of Manhattan Associates stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at $11,872,615.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Raymond James increased their price objective on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday. Citigroup raised their price target on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Robert W. Baird boosted their price objective on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Loop Capital increased their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Finally, DA Davidson boosted their price target on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Manhattan Associates has an average rating of “Moderate Buy” and a consensus price target of $286.38.

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.