Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by abrdn plc

abrdn plc lessened its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 18.6% during the fourth quarter, HoldingsChannel reports. The firm owned 24,253 shares of the software maker’s stock after selling 5,551 shares during the period. abrdn plc’s holdings in Manhattan Associates were worth $5,222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. lifted its stake in shares of 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 purchasing an additional 83 shares in the last quarter. Bear Mountain Capital Inc. acquired a new position in shares of Manhattan Associates during the fourth quarter worth about $26,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Manhattan Associates during the fourth quarter worth about $26,000. UMB Bank n.a. lifted its stake in shares of Manhattan Associates by 474.4% during the third quarter. UMB Bank n.a. now owns 224 shares of the software maker’s stock worth $44,000 after purchasing an additional 185 shares in the last quarter. Finally, Raleigh Capital Management Inc. lifted its stake in shares of Manhattan Associates by 19.3% during the third quarter. Raleigh Capital Management Inc. now owns 395 shares of the software maker’s stock worth $78,000 after purchasing an additional 64 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Buying and Selling

In related news, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the transaction, the chief executive officer now directly owns 242,153 shares in the company, valued at $59,988,562.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Manhattan Associates news, 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 sale, the executive vice president now directly owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the sale, the chief executive officer now directly owns 242,153 shares in the company, valued at $59,988,562.69. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

Manhattan Associates Trading Up 0.3 %

MANH stock opened at $209.02 on Friday. The stock’s 50 day simple moving average is $243.64 and its 200 day simple moving average is $226.91. Manhattan Associates, Inc. has a 12-month low of $164.55 and a 12-month high of $266.94. The firm has a market cap of $12.87 billion, a P/E ratio of 68.31 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.23. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. The firm had revenue of $238.26 million for the quarter, compared to analysts’ expectations of $223.99 million. On average, research analysts forecast that Manhattan Associates, Inc. will post 2.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MANH. Rosenblatt Securities restated a “neutral” rating and set a $225.00 price objective on shares of Manhattan Associates in a research note on Wednesday. Truist Financial boosted their price target on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. William Blair reiterated a “market perform” rating on shares of Manhattan Associates in a research note on Wednesday. Raymond James boosted their price target on Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Finally, Citigroup cut their price target on Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $234.86.

Manhattan Associates Company 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.