Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Pitcairn Co.

Pitcairn Co. lowered its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 47.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,954 shares of the software maker’s stock after selling 3,602 shares during the period. Pitcairn Co.’s holdings in Manhattan Associates were worth $1,113,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MANH. Cerity Partners LLC grew its stake in Manhattan Associates by 45.8% in the 3rd quarter. Cerity Partners LLC now owns 19,622 shares of the software maker’s stock worth $5,521,000 after acquiring an additional 6,162 shares during the period. Raymond James Trust N.A. grew its position in shares of Manhattan Associates by 10.0% in the third quarter. Raymond James Trust N.A. now owns 2,239 shares of the software maker’s stock valued at $630,000 after purchasing an additional 204 shares during the period. Eagle Asset Management Inc. increased its stake in Manhattan Associates by 4.1% in the third quarter. Eagle Asset Management Inc. now owns 39,163 shares of the software maker’s stock valued at $11,102,000 after purchasing an additional 1,527 shares during the last quarter. Banco Santander S.A. boosted its stake in Manhattan Associates by 1.3% in the 3rd quarter. Banco Santander S.A. now owns 73,240 shares of the software maker’s stock worth $20,608,000 after buying an additional 955 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in Manhattan Associates in the 3rd quarter valued at about $234,249,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Price Performance

Shares of NASDAQ MANH opened at $280.40 on Monday. The company has a market capitalization of $17.13 billion, a price-to-earnings ratio of 79.66 and a beta of 1.52. Manhattan Associates, Inc. has a 1-year low of $199.23 and a 1-year high of $307.50. The business has a 50-day moving average of $280.92 and a 200-day moving average of $254.89.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.29. The business had revenue of $266.70 million for the quarter, compared to analysts’ expectations of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 earnings per share. Research analysts expect that Manhattan Associates, Inc. will post 3.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MANH has been the topic of several research analyst reports. DA Davidson raised their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Citigroup boosted their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Robert W. Baird upped their price objective on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Raymond James lifted their target price on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $286.38.

About Manhattan Associates

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.