Castleark Management LLC Reduces Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Castleark Management LLC reduced its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 72.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 890 shares of the software maker’s stock after selling 2,390 shares during the period. Castleark Management LLC’s holdings in Manhattan Associates were worth $250,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in shares of Manhattan Associates by 47.5% in the third quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker’s stock worth $334,000 after buying an additional 382 shares during the period. Boston Trust Walden Corp raised its stake in shares of Manhattan Associates by 3.3% during the second quarter. Boston Trust Walden Corp now owns 109,542 shares of the software maker’s stock valued at $27,022,000 after acquiring an additional 3,525 shares during the last quarter. Mediolanum International Funds Ltd boosted its holdings in shares of Manhattan Associates by 602.0% during the third quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker’s stock worth $5,607,000 after purchasing an additional 17,187 shares during the period. Chartwell Investment Partners LLC boosted its holdings in shares of Manhattan Associates by 31.1% during the third quarter. Chartwell Investment Partners LLC now owns 21,557 shares of the software maker’s stock worth $6,065,000 after purchasing an additional 5,119 shares during the period. Finally, M&G Plc increased its holdings in Manhattan Associates by 2.1% during the 2nd quarter. M&G Plc now owns 316,243 shares of the software maker’s stock valued at $78,112,000 after purchasing an additional 6,511 shares during the period. Institutional investors own 98.45% of the company’s stock.

Insider Activity at Manhattan Associates

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Raymond James lifted their price objective on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. DA Davidson boosted their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird raised their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Loop Capital boosted 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. Finally, Truist Financial raised their price objective on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Manhattan Associates has a consensus rating of “Moderate Buy” and an average target price of $290.78.

Manhattan Associates Stock Performance

MANH stock opened at $302.59 on Friday. The firm has a 50 day moving average price of $283.99 and a 200-day moving average price of $259.63. Manhattan Associates, Inc. has a 52-week low of $199.23 and a 52-week high of $307.50. The firm has a market capitalization of $18.48 billion, a price-to-earnings ratio of 85.96 and a beta of 1.50.

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. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The business had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. During the same period in the previous year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Manhattan Associates, Inc. will post 3.39 earnings per share 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.