DekaBank Deutsche Girozentrale Reduces Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

DekaBank Deutsche Girozentrale decreased its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 24.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 17,920 shares of the software maker’s stock after selling 5,821 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Manhattan Associates were worth $3,860,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in Manhattan Associates by 259.4% in the 4th quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock worth $25,000 after acquiring an additional 83 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in Manhattan Associates in the 2nd quarter worth about $36,000. Compass Wealth Management LLC bought a new position in Manhattan Associates in the 4th quarter worth about $42,000. ST Germain D J Co. Inc. bought a new position in shares of Manhattan Associates during the 2nd quarter valued at about $44,000. Finally, UMB Bank n.a. increased its position in shares of Manhattan Associates by 474.4% during the 3rd quarter. UMB Bank n.a. now owns 224 shares of the software maker’s stock valued at $44,000 after purchasing an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MANH shares. Citigroup began coverage on Manhattan Associates in a research report on Wednesday, March 13th. They set a “neutral” rating and a $260.00 price objective on the stock. Raymond James raised their price objective on Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Truist Financial lifted their target price on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. StockNews.com raised Manhattan Associates from a “hold” rating to a “buy” rating in a report on Friday, December 15th. Finally, Rosenblatt Securities lifted their target price on Manhattan Associates from $215.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and a consensus price target of $231.29.

Manhattan Associates Stock Down 0.8 %

Shares of Manhattan Associates stock opened at $237.81 on Friday. The company has a market capitalization of $14.64 billion, a price-to-earnings ratio of 84.33 and a beta of 1.44. Manhattan Associates, Inc. has a 52 week low of $152.32 and a 52 week high of $266.94. The stock’s 50-day simple moving average is $248.48 and its 200-day simple moving average is $225.14.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.23. The company had revenue of $238.26 million for the quarter, compared to the consensus estimate of $223.99 million. Manhattan Associates had a return on equity of 84.08% and a net margin of 19.01%. On average, equities analysts expect that Manhattan Associates, Inc. will post 2.78 earnings per share for the current year.

Insider Buying and Selling at Manhattan Associates

In related news, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total value of $169,211.20. Following the completion of the sale, the executive vice president now directly owns 57,093 shares in the company, valued at $14,207,022.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total value of $2,699,513.81. Following the sale, the chief executive officer now owns 242,153 shares in the company, valued at $59,988,562.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP James Stewart Gantt sold 680 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total value of $169,211.20. Following the completion of the sale, the executive vice president now owns 57,093 shares in the company, valued at approximately $14,207,022.12. The disclosure for this sale can be found here. Company insiders own 0.85% of the company’s stock.

About Manhattan Associates

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.