Bank of New York Mellon Corp Sells 10,870 Shares of Manhattan Associates, Inc. $MANH

Bank of New York Mellon Corp decreased its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 2.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 395,900 shares of the software maker’s stock after selling 10,870 shares during the period. Bank of New York Mellon Corp’s holdings in Manhattan Associates were worth $52,702,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of MANH. State of Michigan Retirement System raised its holdings in shares of Manhattan Associates by 1.4% during the first quarter. State of Michigan Retirement System now owns 14,431 shares of the software maker’s stock valued at $1,921,000 after purchasing an additional 200 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Manhattan Associates by 4.2% in the first quarter. Principal Financial Group Inc. now owns 152,407 shares of the software maker’s stock worth $20,288,000 after purchasing an additional 6,076 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in Manhattan Associates by 82.4% in the 1st quarter. Chicago Partners Investment Group LLC now owns 4,650 shares of the software maker’s stock worth $664,000 after purchasing an additional 2,101 shares during the period. Procyon Advisors LLC raised its stake in Manhattan Associates by 23.9% during the 1st quarter. Procyon Advisors LLC now owns 2,504 shares of the software maker’s stock valued at $333,000 after buying an additional 483 shares during the last quarter. Finally, Citizens Financial Group Inc. RI bought a new position in shares of Manhattan Associates during the 1st quarter valued at $375,000. Institutional investors own 98.45% of the company’s stock.

Insider Buying and Selling at Manhattan Associates

In other news, CEO Eric Andrew Clark sold 1,000 shares of the 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 completion of the sale, the chief executive officer directly owned 92,638 shares of the company’s stock, valued at $13,596,479.26. This represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.84% of the stock is currently owned by insiders.

Manhattan Associates Trading Down 1.1%

Shares of NASDAQ:MANH opened at $147.43 on Friday. The stock has a 50 day moving average of $145.44 and a 200 day moving average of $145.04. The company has a market cap of $8.72 billion, a PE ratio of 41.30 and a beta of 0.97. Manhattan Associates, Inc. has a 12-month low of $119.06 and a 12-month high of $229.57.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, April 21st. The software maker reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.14. Manhattan Associates had a net margin of 19.68% and a return on equity of 78.13%. The company had revenue of $282.21 million for the quarter, compared to analysts’ expectations of $273.70 million. During the same quarter last year, the business earned $1.19 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. Equities research analysts predict that Manhattan Associates, Inc. will post 3.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on MANH shares. DA Davidson reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Manhattan Associates in a report on Wednesday, May 20th. Robert W. Baird raised their target price on Manhattan Associates from $183.00 to $186.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Citigroup upped their price target on shares of Manhattan Associates from $177.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday. Barclays dropped their price objective on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Finally, Rothschild & Co Redburn set a $145.00 target price on shares of Manhattan Associates in a report on Thursday, April 16th. Eight equities 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $201.00.

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.