Intech Investment Management LLC Sells 29,475 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Intech Investment Management LLC lessened its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 60.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 19,288 shares of the software maker’s stock after selling 29,475 shares during the period. Intech Investment Management LLC’s holdings in Manhattan Associates were worth $5,427,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its holdings in shares of Manhattan Associates by 40.9% in the third quarter. First Horizon Advisors Inc. now owns 327 shares of the software maker’s stock worth $92,000 after purchasing an additional 95 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in shares of Manhattan Associates during the third quarter valued at approximately $747,000. PNC Financial Services Group Inc. grew its stake in Manhattan Associates by 50.3% in the third quarter. PNC Financial Services Group Inc. now owns 4,751 shares of the software maker’s stock worth $1,337,000 after purchasing an additional 1,591 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Manhattan Associates during the 3rd quarter worth $399,000. Finally, Pathstone Holdings LLC raised its position in Manhattan Associates by 2.0% during the 3rd quarter. Pathstone Holdings LLC now owns 9,739 shares of the software maker’s stock valued at $2,740,000 after purchasing an additional 192 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $280.40 on Friday. Manhattan Associates, Inc. has a fifty-two week low of $199.23 and a fifty-two week high of $307.50. The firm has a market capitalization of $17.13 billion, a PE ratio of 79.66 and a beta of 1.52. The stock’s 50-day simple moving average is $280.92 and its 200-day simple moving average is $254.34.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly 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. The company had revenue of $266.70 million during the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. Manhattan Associates’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the firm posted $0.79 EPS. Sell-side analysts forecast that Manhattan Associates, Inc. will post 3.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Truist Financial raised 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. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Citigroup lifted their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Robert W. Baird upped their target price on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, Loop Capital boosted their price target on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $286.38.

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.