Principal Financial Group Inc. Lowers Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Principal Financial Group Inc. reduced its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 14.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 370,694 shares of the software maker’s stock after selling 64,371 shares during the quarter. Principal Financial Group Inc.’s holdings in Manhattan Associates were worth $104,306,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Innealta Capital LLC acquired a new stake in shares of Manhattan Associates during the 2nd quarter worth approximately $26,000. International Assets Investment Management LLC purchased a new stake in Manhattan Associates during the second quarter worth $27,000. Capital Performance Advisors LLP purchased a new stake in Manhattan Associates during the third quarter worth $34,000. Ashton Thomas Private Wealth LLC acquired a new stake in Manhattan Associates during the second quarter valued at $31,000. Finally, Ashton Thomas Securities LLC purchased a new position in Manhattan Associates in the third quarter valued at $42,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MANH has been the topic of several recent analyst reports. Piper Sandler initiated coverage on shares of Manhattan Associates in a research note on Monday, November 25th. They set an “overweight” rating and a $326.00 target price on the stock. Raymond James increased their price target on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Robert W. Baird boosted their price objective on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Citigroup increased their target price on Manhattan Associates from $287.00 to $306.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Finally, Truist Financial boosted their price target 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $292.89.

Manhattan Associates Stock Performance

NASDAQ MANH opened at $280.26 on Friday. The business has a fifty day moving average price of $286.39 and a 200 day moving average price of $263.92. The company has a market cap of $17.12 billion, a P/E ratio of 79.62 and a beta of 1.50. Manhattan Associates, Inc. has a one year low of $199.23 and a one year high of $312.60.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The firm had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. During the same period last year, the firm posted $0.79 earnings per share. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, sell-side analysts predict that Manhattan Associates, Inc. will post 3.39 EPS for the current fiscal year.

Insider Activity

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the transaction, the senior vice president now directly owns 22,086 shares of the company’s stock, valued at $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the sale, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

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.