RGM Capital LLC Sells 213,699 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

RGM Capital LLC trimmed its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 36.7% in the 3rd quarter, Holdings Channel reports. The fund owned 369,338 shares of the software maker’s stock after selling 213,699 shares during the quarter. Manhattan Associates comprises 4.5% of RGM Capital LLC’s portfolio, making the stock its 11th biggest holding. RGM Capital LLC’s holdings in Manhattan Associates were worth $103,924,000 at the end of the most recent quarter.

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

Manhattan Associates Stock Down 0.6 %

MANH traded down $1.79 during trading on Wednesday, hitting $288.95. The company’s stock had a trading volume of 6,085 shares, compared to its average volume of 414,594. The firm’s 50 day moving average price is $281.33 and its two-hundred day moving average price is $255.41. The stock has a market capitalization of $17.65 billion, a price-to-earnings ratio of 82.09 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.

Manhattan Associates (NASDAQ:MANH) last issued 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. The business had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 EPS. On average, sell-side analysts forecast that Manhattan Associates, Inc. will post 3.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MANH shares. Piper Sandler began coverage on shares of Manhattan Associates in a report on Monday. They issued an “overweight” rating and a $326.00 price target on the stock. DA Davidson upped 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. 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 research note on Wednesday, September 25th. Loop Capital increased their target price on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Finally, Raymond James raised their target price on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $290.78.

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.