Mirae Asset Global Investments Co. Ltd. Sells 1,990 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Mirae Asset Global Investments Co. Ltd. lessened its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 15.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,694 shares of the software maker’s stock after selling 1,990 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Manhattan Associates were worth $2,303,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the business. Blue Trust Inc. boosted its stake in Manhattan Associates by 259.4% during the fourth quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock worth $25,000 after acquiring an additional 83 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Manhattan Associates in the 2nd quarter worth about $36,000. Compass Wealth Management LLC purchased a new stake in Manhattan Associates during the 4th quarter valued at about $42,000. UMB Bank n.a. increased its stake in 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 in the last quarter. Finally, First Capital Advisors Group LLC. purchased a new position in Manhattan Associates in the second quarter worth about $65,000. Institutional investors own 98.45% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on MANH. Truist Financial boosted their price objective on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Rosenblatt Securities reaffirmed a “neutral” rating and set a $225.00 price target on shares of Manhattan Associates in a report on Monday. Raymond James lifted their price objective on Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Finally, Citigroup initiated coverage on shares of Manhattan Associates in a research note on Wednesday, March 13th. They set a “neutral” rating and a $260.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Manhattan Associates has a consensus rating of “Moderate Buy” and an average target price of $231.29.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $230.44 on Friday. The stock has a market cap of $14.19 billion, a PE ratio of 81.72 and a beta of 1.44. The stock has a fifty day moving average of $247.10 and a 200 day moving average of $226.09. Manhattan Associates, Inc. has a one year low of $152.32 and a one year high of $266.94.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.55 by $0.23. The firm had revenue of $238.26 million during the quarter, compared to analyst estimates of $223.99 million. Manhattan Associates had a net margin of 19.01% and a return on equity of 84.08%. As a group, sell-side analysts predict that Manhattan Associates, Inc. will post 2.78 EPS for the current fiscal year.

Insider Buying and Selling at Manhattan Associates

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