American Century Companies Inc. Sells 9,863 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

American Century Companies Inc. trimmed its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 1.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 923,926 shares of the software maker’s stock after selling 9,863 shares during the quarter. American Century Companies Inc.’s holdings in Manhattan Associates were worth $227,914,000 as of its most recent filing with the Securities & Exchange Commission.

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

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $263.94 on Friday. The stock’s fifty day moving average price is $249.71 and its two-hundred day moving average price is $239.79. Manhattan Associates, Inc. has a 52-week low of $182.97 and a 52-week high of $268.89. The company has a market cap of $16.25 billion, a price-to-earnings ratio of 86.25 and a beta of 1.50.

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

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the company’s stock in a transaction 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 in the company, valued at approximately $11,872,615.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

MANH has been the topic of several recent analyst reports. DA Davidson boosted their target price on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Loop Capital boosted their target price on Manhattan Associates from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Citigroup boosted their target price on Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. Finally, StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $257.43.

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.