Bank of Nova Scotia Cuts Holdings in Manhattan Associates, Inc. $MANH

Bank of Nova Scotia decreased its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 34.6% in the 1st quarter, HoldingsChannel reports. The fund owned 77,900 shares of the software maker’s stock after selling 41,186 shares during the quarter. Bank of Nova Scotia’s holdings in Manhattan Associates were worth $10,370,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sei Investments Co. raised its holdings in Manhattan Associates by 48.1% during the first quarter. Sei Investments Co. now owns 170,667 shares of the software maker’s stock worth $22,719,000 after purchasing an additional 55,463 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Manhattan Associates by 7.7% in the 1st quarter. Cetera Investment Advisers now owns 2,941 shares of the software maker’s stock valued at $392,000 after purchasing an additional 211 shares in the last quarter. First Citizens Bank & Trust Co. boosted its position in Manhattan Associates by 41.9% during the first quarter. First Citizens Bank & Trust Co. now owns 9,692 shares of the software maker’s stock worth $1,290,000 after acquiring an additional 2,863 shares during the last quarter. First Trust Advisors LP raised its holdings in Manhattan Associates by 4.5% in the 1st quarter. First Trust Advisors LP now owns 22,493 shares of the software maker’s stock valued at $2,994,000 after acquiring an additional 962 shares during the last quarter. Finally, ABN Amro Investment Solutions lifted its stake in shares of Manhattan Associates by 20.6% during the 1st quarter. ABN Amro Investment Solutions now owns 38,479 shares of the software maker’s stock worth $5,122,000 after purchasing an additional 6,584 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Manhattan Associates

In other news, CEO Eric Andrew Clark sold 1,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $146.77, for a total value of $146,770.00. Following the transaction, the chief executive officer owned 92,638 shares of the company’s stock, valued at approximately $13,596,479.26. This trade represents a 1.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on MANH. Barclays decreased their price objective on Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Weiss Ratings upgraded Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 14th. Stifel Nicolaus set a $200.00 target price on Manhattan Associates in a research report on Wednesday, May 20th. Rothschild & Co Redburn set a $145.00 price target on Manhattan Associates in a research note on Thursday, April 16th. Finally, Robert W. Baird lifted their price target on Manhattan Associates from $183.00 to $186.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average price target of $201.00.

Manhattan Associates Price Performance

Shares of MANH stock opened at $151.67 on Monday. The stock has a market cap of $8.97 billion, a price-to-earnings ratio of 42.48 and a beta of 0.97. Manhattan Associates, Inc. has a fifty-two week low of $119.06 and a fifty-two week high of $229.57. The firm’s 50 day moving average price is $145.84 and its two-hundred day moving average price is $144.94.

Manhattan Associates Company Profile

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.