Commerce Bank Sells 1,343 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Commerce Bank lessened its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 8.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 14,727 shares of the software maker’s stock after selling 1,343 shares during the period. Commerce Bank’s holdings in Manhattan Associates were worth $4,144,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its position in Manhattan Associates by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker’s stock valued at $149,023,000 after acquiring an additional 2,156 shares in the last quarter. RGM Capital LLC increased its holdings in shares of Manhattan Associates by 4.1% in the second quarter. RGM Capital LLC now owns 583,037 shares of the software maker’s stock valued at $143,824,000 after purchasing an additional 23,000 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Manhattan Associates by 20.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 441,314 shares of the software maker’s stock worth $108,881,000 after purchasing an additional 76,378 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Manhattan Associates by 7.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 426,729 shares of the software maker’s stock valued at $106,782,000 after buying an additional 29,063 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of Manhattan Associates by 27.2% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 385,311 shares of the software maker’s stock valued at $94,898,000 after buying an additional 82,420 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Stock Up 3.1 %

MANH opened at $280.40 on Friday. The stock has a market cap of $17.13 billion, a P/E ratio of 79.66 and a beta of 1.52. Manhattan Associates, Inc. has a 12 month low of $199.23 and a 12 month high of $307.50. The company has a fifty day simple moving average of $280.92 and a 200 day simple moving average of $254.34.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (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 company had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. During the same period in the prior year, the company earned $0.79 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities research analysts expect that Manhattan Associates, Inc. will post 3.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on MANH. Raymond James upped their price target on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. DA Davidson raised their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Loop Capital boosted their price target 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. Citigroup raised 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. Finally, StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and a consensus target price 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.