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% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,760 shares of the software maker’s stock after selling 648 shares during the period. LGT Group Foundation’s holdings in Manhattan Associates were worth $4,628,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MANH. Vanguard Group Inc. boosted its stake in shares of Manhattan Associates by 0.9% in the first quarter. Vanguard Group Inc. now owns 6,671,321 shares of the software maker’s stock valued at $1,669,365,000 after purchasing an additional 58,905 shares during the period. Franklin Resources Inc. boosted its stake in shares of Manhattan Associates by 16.8% in the fourth quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker’s stock valued at $187,967,000 after purchasing an additional 125,541 shares during the period. Norges Bank purchased a new position in shares of Manhattan Associates in the fourth quarter valued at approximately $146,984,000. TD Asset Management Inc lifted its stake in Manhattan Associates by 10.5% in the first quarter. TD Asset Management Inc now owns 607,167 shares of the software maker’s stock worth $151,931,000 after acquiring an additional 57,859 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Manhattan Associates by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker’s stock worth $149,023,000 after acquiring an additional 2,156 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, EVP James Stewart Gantt sold 6,000 shares of Manhattan Associates stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total value of $1,539,000.00. Following the transaction, the executive vice president now directly owns 46,287 shares of the company’s stock, 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.

Manhattan Associates Trading Up 1.8 %

Shares of NASDAQ:MANH opened at $255.08 on Tuesday. The company has a market capitalization of $15.62 billion, a PE ratio of 83.36 and a beta of 1.50. Manhattan Associates, Inc. has a twelve month low of $182.97 and a twelve month high of $267.00. The firm has a 50 day simple moving average of $248.64 and a 200-day simple moving average of $239.34.

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