Mutual of America Capital Management LLC Sells 2,151 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Mutual of America Capital Management LLC decreased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 6.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,102 shares of the software maker’s stock after selling 2,151 shares during the period. Mutual of America Capital Management LLC owned approximately 0.05% of Manhattan Associates worth $9,314,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. CIBC Asset Management Inc raised its stake in Manhattan Associates by 3.3% in the 3rd quarter. CIBC Asset Management Inc now owns 1,798 shares of the software maker’s stock worth $506,000 after purchasing an additional 58 shares in the last quarter. OneDigital Investment Advisors LLC increased its holdings in shares of Manhattan Associates by 3.8% during the third quarter. OneDigital Investment Advisors LLC now owns 6,267 shares of the software maker’s stock worth $1,763,000 after purchasing an additional 228 shares during the period. Metis Global Partners LLC acquired a new stake in shares of Manhattan Associates in the third quarter valued at approximately $220,000. Zions Bancorporation N.A. boosted its stake in shares of Manhattan Associates by 18.2% in the third quarter. Zions Bancorporation N.A. now owns 8,619 shares of the software maker’s stock valued at $2,425,000 after buying an additional 1,325 shares during the period. Finally, Huntington National Bank grew its position in Manhattan Associates by 5.9% during the third quarter. Huntington National Bank now owns 879 shares of the software maker’s stock worth $247,000 after buying an additional 49 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

NASDAQ MANH opened at $272.62 on Monday. The firm’s fifty day moving average price is $279.80 and its two-hundred day moving average price is $252.76. The stock has a market cap of $16.65 billion, a PE ratio of 77.45 and a beta of 1.52. Manhattan Associates, Inc. has a fifty-two week low of $199.23 and a fifty-two week high of $307.50.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $262.90 million. During the same quarter in the prior year, the firm earned $0.79 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, sell-side analysts predict that Manhattan Associates, Inc. will post 3.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. DA Davidson lifted their price objective on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Truist Financial boosted their price target on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Loop Capital increased their price objective 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. Robert W. Baird boosted their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Citigroup increased their price target on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.