7,583 Manhattan Associates, Inc. $MANH Shares Sold by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. reduced its Manhattan Associates stake by 61.7% in the third quarter, selling 7,583 shares and retaining 4,704 shares worth approximately $935,000. Institutional investors collectively own 98.45% of the company.
• Analyst sentiment remains positive overall: Manhattan Associates has a consensus rating of “Moderate Buy” and an average price target of $223.70, although DA Davidson and Wall Street Zen downgraded the stock to “Neutral” and “Hold,” respectively.
• The company recently exceeded quarterly expectations, reporting $1.39 in EPS versus a $1.32 consensus estimate and $297.79 million in revenue, up 9.3% year over year. Shares opened at $222.17, near their 52-week high of $231.63, with a market capitalization of roughly $12.95 billion.

First Citizens Bank & Trust Co. lessened its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 61.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,704 shares of the software maker's stock after selling 7,583 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Manhattan Associates were worth $935,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of MANH. BlackRock Inc. purchased a new position in Manhattan Associates during the 2nd quarter worth $944,285,000. T. Rowe Price Investment Management Inc. lifted its position in shares of Manhattan Associates by 35.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker's stock valued at $447,182,000 after purchasing an additional 671,589 shares in the last quarter. Swedbank AB grew its position in Manhattan Associates by 25.0% in the 1st quarter. Swedbank AB now owns 1,500,000 shares of the software maker's stock worth $199,680,000 after purchasing an additional 300,000 shares in the last quarter. William Blair Investment Management LLC bought a new stake in Manhattan Associates in the 2nd quarter worth about $94,049,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in Manhattan Associates by 2.0% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,608 shares of the software maker's stock worth $89,671,000 after purchasing an additional 13,128 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on MANH shares. DA Davidson lowered shares of Manhattan Associates from a "buy" rating to a "neutral" rating and set a $210.00 price target for the company. in a research report on Monday, September 28th. Weiss Ratings upgraded shares of Manhattan Associates from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, October 2nd. UBS Group reissued a "buy" rating on shares of Manhattan Associates in a research report on Wednesday. Stifel Nicolaus raised their price target on shares of Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Wall Street Zen lowered shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $223.70.

Insider Buying and Selling

In related news, CEO Eric Clark sold 3,000 shares of Manhattan Associates stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total value of $593,280.00. Following the transaction, the chief executive officer owned 89,638 shares in the company, valued at $17,726,810.88. This trade represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James Gantt sold 5,139 shares of the business's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the completion of the sale, the executive vice president directly owned 55,676 shares of the company's stock, valued at $10,886,328.28. This represents a 8.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.84% of the stock is owned by company insiders.

Manhattan Associates Stock Down 2.1%

MANH opened at $222.17 on Friday. The business's fifty day simple moving average is $209.27 and its 200 day simple moving average is $168.26. Manhattan Associates, Inc. has a 52 week low of $119.06 and a 52 week high of $231.63. The stock has a market cap of $12.95 billion, a PE ratio of 63.66 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 EPS for the quarter, beating the consensus estimate of $1.32 by $0.07. The firm had revenue of $297.79 million for the quarter, compared to analyst estimates of $289.03 million. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%. The company's revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.31 EPS. As a group, equities analysts anticipate that Manhattan Associates, Inc. will post 3.87 earnings per share for the current year.

Manhattan Associates Profile

Manhattan Associates, Inc develops cloud-based software designed to help businesses manage supply chains, inventory, warehouse operations, transportation, and omnichannel commerce. Its solutions are used by retailers, wholesalers, manufacturers, distributors, logistics providers, and other organizations seeking to coordinate products, orders, labor, and fulfillment activities.

The company's product portfolio includes Manhattan Active Warehouse Management, Manhattan Active Transportation Management, Manhattan Active Order Management, and related tools for inventory optimization, workforce management, customer engagement, and point-of-sale operations.

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