Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by LGT Group Foundation

LGT Group Foundation cut its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 3.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,760 shares of the software maker’s stock after selling 648 shares during the quarter. LGT Group Foundation’s holdings in Manhattan Associates were worth $4,628,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. boosted its position in shares of Manhattan Associates by 44.9% in the 4th quarter. Victory Capital Management Inc. now owns 37,643 shares of the software maker’s stock worth $8,105,000 after buying an additional 11,669 shares in the last quarter. Private Advisor Group LLC purchased a new stake in shares of Manhattan Associates in the 4th quarter worth about $270,000. Principal Securities Inc. purchased a new stake in shares of Manhattan Associates in the 4th quarter worth about $93,000. QRG Capital Management Inc. boosted its position in shares of Manhattan Associates by 3.4% in the 4th quarter. QRG Capital Management Inc. now owns 2,424 shares of the software maker’s stock worth $522,000 after buying an additional 80 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Manhattan Associates by 2.6% in the 4th quarter. Principal Financial Group Inc. now owns 502,550 shares of the software maker’s stock worth $108,209,000 after buying an additional 12,536 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MANH. Citigroup upped their target price on shares of Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Loop Capital upped their target price on shares of Manhattan Associates from $250.00 to $265.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Redburn Atlantic began coverage on shares of Manhattan Associates in a report on Tuesday, May 14th. They issued a “buy” rating and a $260.00 target price on the stock. DA Davidson upped their target price on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $257.43.

Insider Activity

In related news, EVP James Stewart Gantt sold 6,000 shares of the 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 owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Manhattan Associates Price Performance

NASDAQ MANH opened at $255.08 on Tuesday. Manhattan Associates, Inc. has a 12 month low of $182.97 and a 12 month high of $267.00. The company has a 50-day moving average of $248.64 and a 200-day moving average of $239.34. The company has a market cap of $15.62 billion, a P/E ratio of 83.36 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.22. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The company had revenue of $265.30 million during the quarter, compared to the consensus estimate of $255.83 million. During the same quarter in the prior year, the company posted $0.63 EPS. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Manhattan Associates, Inc. will post 3.01 EPS for the current year.

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.