Bank of New York Mellon Corp Reduces Stock Position in Manhattan Associates, Inc. $MANH

Bank of New York Mellon Corp lessened its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 395,900 shares of the software maker's stock after selling 10,870 shares during the period. Bank of New York Mellon Corp owned 0.67% of Manhattan Associates worth $52,702,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. NewEdge Advisors LLC grew its stake in shares of Manhattan Associates by 3.3% in the second quarter. NewEdge Advisors LLC now owns 1,852 shares of the software maker's stock worth $366,000 after purchasing an additional 59 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Manhattan Associates by 2.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,708 shares of the software maker's stock worth $555,000 after buying an additional 69 shares during the period. Covestor Ltd lifted its holdings in Manhattan Associates by 12.2% in the 4th quarter. Covestor Ltd now owns 670 shares of the software maker's stock worth $116,000 after buying an additional 73 shares during the period. Verdence Capital Advisors LLC grew its position in shares of Manhattan Associates by 3.4% in the 4th quarter. Verdence Capital Advisors LLC now owns 2,322 shares of the software maker's stock worth $402,000 after buying an additional 76 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Manhattan Associates by 1.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 6,369 shares of the software maker's stock valued at $1,104,000 after acquiring an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Analysts Set New Price Targets

MANH has been the subject of a number of research analyst reports. Wall Street Zen lowered Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Weiss Ratings raised shares of Manhattan Associates from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, July 14th. Rothschild & Co Redburn set a $145.00 price objective on Manhattan Associates in a research report on Thursday, April 16th. Citigroup increased their target price on Manhattan Associates from $177.00 to $193.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Barclays lowered their target price on Manhattan Associates from $239.00 to $201.00 and set an "overweight" rating for the company in a research note on Friday, May 29th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $201.00.

Insider Activity

In related news, CEO Eric Andrew Clark sold 1,000 shares of the company's stock in a transaction dated 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 in the company, valued at $13,596,479.26. The trade was a 1.07% decrease in their position. 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 corporate insiders.

Manhattan Associates Stock Down 1.1%

Manhattan Associates stock opened at $147.43 on Friday. Manhattan Associates, Inc. has a twelve month low of $119.06 and a twelve month high of $229.57. The company has a market capitalization of $8.72 billion, a P/E ratio of 41.30 and a beta of 0.97. The stock's 50 day moving average is $145.44 and its 200 day moving average is $145.04.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The software maker reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.14. Manhattan Associates had a return on equity of 78.13% and a net margin of 19.68%.The business had revenue of $282.21 million during the quarter, compared to analysts' expectations of $273.70 million. During the same quarter in the previous year, the business earned $1.19 earnings per share. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities analysts expect that Manhattan Associates, Inc. will post 3.72 EPS for the current year.

About Manhattan Associates

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.

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