Assetmark Inc. Has $143,000 Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Assetmark Inc. lessened its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 91.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 827 shares of the software maker's stock after selling 9,194 shares during the period. Assetmark Inc.'s holdings in Manhattan Associates were worth $143,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MANH. Central Pacific Bank Trust Division grew its holdings in Manhattan Associates by 107.3% during the first quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock valued at $34,000 after purchasing an additional 103 shares during the last quarter. Park Square Financial Group LLC acquired a new position in Manhattan Associates during the fourth quarter valued at approximately $38,000. Transce3nd LLC acquired a new position in Manhattan Associates during the fourth quarter valued at approximately $41,000. Reyes Financial Architecture Inc. grew its holdings in Manhattan Associates by 42.5% during the first quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock valued at $82,000 after purchasing an additional 142 shares during the last quarter. Finally, Harbor Investment Advisory LLC grew its holdings in Manhattan Associates by 57.7% during the first quarter. Harbor Investment Advisory LLC now owns 552 shares of the software maker's stock valued at $96,000 after purchasing an additional 202 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MANH. Raymond James Financial raised their price objective on shares of Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Truist Financial raised their price objective on shares of Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Loop Capital raised their price objective on shares of Manhattan Associates from $170.00 to $200.00 and gave the stock a "hold" rating in a research note on Tuesday, July 22nd. DA Davidson raised their price objective on shares of Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, Citigroup restated a "neutral" rating and issued a $200.00 price objective (up previously from $177.00) on shares of Manhattan Associates in a research note on Wednesday, July 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Manhattan Associates presently has an average rating of "Hold" and a consensus target price of $216.67.

Insider Buying and Selling

In other Manhattan Associates news, Chairman Eddie Capel sold 37,342 shares of Manhattan Associates stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $222.18, for a total transaction of $8,296,645.56. Following the completion of the transaction, the chairman directly owned 162,988 shares of the company's stock, valued at approximately $36,212,673.84. This trade represents a 18.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Linda T. Hollembaek sold 2,024 shares of Manhattan Associates stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total value of $448,376.72. Following the transaction, the director directly owned 11,907 shares of the company's stock, valued at approximately $2,637,757.71. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,666 shares of company stock valued at $9,251,781 over the last ninety days. 0.72% of the stock is owned by company insiders.

Manhattan Associates Price Performance

Shares of MANH stock opened at $214.66 on Monday. The stock has a market cap of $12.98 billion, a P/E ratio of 59.96 and a beta of 1.10. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60. The stock has a fifty day moving average price of $198.54 and a 200 day moving average price of $191.06.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The software maker reported $1.31 EPS for the quarter, topping the consensus estimate of $1.12 by $0.19. The firm had revenue of $272.42 million during the quarter, compared to analysts' expectations of $263.62 million. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%. Manhattan Associates's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $1.18 earnings per share. Equities research analysts anticipate that Manhattan Associates, Inc. will post 3.3 EPS for the current 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.

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