Menard Financial Group LLC Decreases Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Menard Financial Group LLC reduced its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 9.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,421 shares of the software maker’s stock after selling 262 shares during the period. Menard Financial Group LLC’s holdings in Manhattan Associates were worth $681,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MANH. Massachusetts Financial Services Co. MA purchased a new position in shares of Manhattan Associates in the 3rd quarter valued at $234,249,000. Fiera Capital Corp purchased a new position in shares of Manhattan Associates during the second quarter worth about $44,705,000. Squarepoint Ops LLC grew its holdings in shares of Manhattan Associates by 448.9% during the second quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker’s stock worth $39,629,000 after purchasing an additional 131,381 shares during the last quarter. FMR LLC increased its position in shares of Manhattan Associates by 7.3% during the third quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock worth $539,521,000 after purchasing an additional 130,817 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Manhattan Associates by 118.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker’s stock valued at $48,860,000 after purchasing an additional 94,283 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Up 3.7 %

NASDAQ:MANH opened at $297.09 on Wednesday. Manhattan Associates, Inc. has a fifty-two week low of $199.23 and a fifty-two week high of $307.50. The firm’s fifty day simple moving average is $282.79 and its 200-day simple moving average is $258.27. The stock has a market cap of $18.15 billion, a PE ratio of 84.40 and a beta of 1.50.

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, beating analysts’ consensus estimates of $1.06 by $0.29. The company had revenue of $266.70 million during the quarter, compared to analysts’ expectations of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company posted $0.79 earnings per share. Equities analysts anticipate that Manhattan Associates, Inc. will post 3.39 earnings per share for the current year.

Analysts Set New Price Targets

MANH has been the topic of several research analyst reports. Citigroup lifted their price target on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Piper Sandler started coverage on shares of Manhattan Associates in a report on Monday, November 25th. They issued an “overweight” rating and a $326.00 target price on the stock. Raymond James raised their price objective on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Loop Capital upped their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th. Finally, DA Davidson increased their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $290.78.

Insiders Place Their Bets

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the transaction, the senior vice president now directly owns 22,086 shares in the company, valued at approximately $6,398,976.78. This trade represents a 15.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the sale, the executive vice president now directly owns 42,812 shares in the company, valued at $12,334,137.20. This trade represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

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.