Cetera Investment Advisers Decreases Position in Manhattan Associates, Inc. $MANH

Cetera Investment Advisers decreased its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 56.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,546 shares of the software maker’s stock after selling 3,356 shares during the quarter. Cetera Investment Advisers’ holdings in Manhattan Associates were worth $441,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of MANH. Advisor OS LLC boosted its stake in Manhattan Associates by 84.1% during the first quarter. Advisor OS LLC now owns 4,531 shares of the software maker’s stock worth $784,000 after acquiring an additional 2,070 shares in the last quarter. AE Wealth Management LLC increased its holdings in Manhattan Associates by 2,278.5% during the first quarter. AE Wealth Management LLC now owns 19,504 shares of the software maker’s stock valued at $3,375,000 after buying an additional 18,684 shares during the last quarter. Wakefield Asset Management LLLP purchased a new stake in Manhattan Associates during the first quarter valued at approximately $405,000. GW&K Investment Management LLC increased its holdings in Manhattan Associates by 28.5% during the first quarter. GW&K Investment Management LLC now owns 397,901 shares of the software maker’s stock valued at $68,853,000 after buying an additional 88,150 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its stake in shares of Manhattan Associates by 18.9% in the first quarter. Allianz Asset Management GmbH now owns 143,687 shares of the software maker’s stock worth $24,864,000 after purchasing an additional 22,845 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MANH. Raymond James Financial upped their target price on shares of Manhattan Associates from $195.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 23rd. Robert W. Baird upped their target price on shares of Manhattan Associates from $212.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 16th. Truist Financial upped their target price on shares of Manhattan Associates from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Loop Capital increased their price objective on shares of Manhattan Associates from $170.00 to $200.00 and gave the company a “hold” rating in a research report on Tuesday, July 22nd. Finally, Morgan Stanley initiated coverage on shares of Manhattan Associates in a research report on Monday, July 14th. They set an “underweight” rating and a $190.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $216.67.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 2,300 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $220.33, for a total transaction of $506,759.00. Following the sale, the executive vice president owned 48,660 shares of the company’s stock, valued at approximately $10,721,257.80. The trade was a 4.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Linda T. Hollembaek sold 2,024 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $221.53, for a total transaction of $448,376.72. Following the sale, the director directly owned 11,907 shares in the company, valued at approximately $2,637,757.71. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,666 shares of company stock valued at $9,251,781 in the last 90 days. Insiders own 0.88% of the company’s stock.

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $214.79 on Monday. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60. The firm has a market cap of $12.99 billion, a P/E ratio of 60.00 and a beta of 1.10. The firm has a 50-day simple moving average of $203.51 and a 200-day simple moving average of $187.08.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.19. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The firm had revenue of $272.42 million for the quarter, compared to the consensus estimate of $263.62 million. During the same quarter in the previous year, the firm earned $1.18 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, research analysts predict that Manhattan Associates, Inc. will post 3.3 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.