Exchange Traded Concepts LLC Has $16.90 Million Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Exchange Traded Concepts LLC trimmed its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 21.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 60,072 shares of the software maker’s stock after selling 16,829 shares during the period. Exchange Traded Concepts LLC owned 0.10% of Manhattan Associates worth $16,903,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Tobam purchased a new position in Manhattan Associates during the 1st quarter valued at about $25,000. Innealta Capital LLC purchased a new position in Manhattan Associates during the second quarter valued at approximately $26,000. Benjamin Edwards Inc. acquired a new position in Manhattan Associates in the 1st quarter valued at approximately $27,000. International Assets Investment Management LLC purchased a new stake in Manhattan Associates in the 2nd quarter worth approximately $27,000. Finally, Contravisory Investment Management Inc. acquired a new stake in shares of Manhattan Associates during the 1st quarter valued at $31,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Manhattan Associates Trading Up 1.9 %

Manhattan Associates stock opened at $299.50 on Friday. Manhattan Associates, Inc. has a 1 year low of $182.97 and a 1 year high of $299.67. The firm has a market capitalization of $18.44 billion, a P/E ratio of 97.88 and a beta of 1.50. The business has a 50-day moving average of $266.01 and a 200-day moving average of $243.76.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.22. The business had revenue of $265.30 million for the quarter, compared to analyst estimates of $255.83 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the business posted $0.63 earnings per share. Research analysts anticipate that Manhattan Associates, Inc. will post 3.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. DA Davidson boosted their target price on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Citigroup boosted their price target on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Loop Capital raised their price objective 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. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Truist Financial raised their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $271.71.

Manhattan Associates Company 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.