Commerce Bank Sells 9,431 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Key Points

• Commerce Bank reduced its holdings in Manhattan Associates by 68.9%, now owning 4,250 shares worth approximately $735,000 after selling 9,431 shares.
• Insider sales included Director Linda T. Hollembaek selling 2,024 shares and Chairman Eddie Capel selling 37,342 shares, reflecting significant decreases in their respective ownership stakes.
• Analysts have mixed opinions on Manhattan Associates, with Redburn Atlantic downgrading the stock from "buy" to "neutral" while other analysts have set varying price targets, resulting in a consensus rating of "Hold".

Commerce Bank lowered its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 68.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,250 shares of the software maker's stock after selling 9,431 shares during the period. Commerce Bank's holdings in Manhattan Associates were worth $735,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Central Pacific Bank Trust Division lifted its holdings in shares of Manhattan Associates by 107.3% during the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock worth $34,000 after acquiring an additional 103 shares during the period. Park Square Financial Group LLC bought a new stake in shares of Manhattan Associates during the 4th quarter worth approximately $38,000. Transce3nd LLC bought a new stake in shares of Manhattan Associates during the 4th quarter worth approximately $41,000. Reyes Financial Architecture Inc. lifted its holdings in shares of Manhattan Associates by 42.5% during the 1st quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock worth $82,000 after acquiring an additional 142 shares during the period. Finally, Bayforest Capital Ltd lifted its holdings in shares of Manhattan Associates by 126.6% during the 1st quarter. Bayforest Capital Ltd now owns 494 shares of the software maker's stock worth $85,000 after acquiring an additional 276 shares during the period. Institutional investors own 98.45% of the company's stock.

Insiders Place Their Bets

In other Manhattan Associates news, Chairman Eddie Capel sold 37,342 shares of Manhattan Associates stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $222.18, for a total value of $8,296,645.56. Following the sale, the chairman owned 162,988 shares of the company's stock, valued at approximately $36,212,673.84. The trade was a 18.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Linda T. Hollembaek sold 2,024 shares of Manhattan Associates stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $221.53, for a total transaction of $448,376.72. Following the completion of the sale, the director directly owned 11,907 shares in the company, valued at approximately $2,637,757.71. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,666 shares of company stock valued at $9,251,781. Company insiders own 0.88% of the company's stock.

Manhattan Associates Price Performance

Shares of NASDAQ MANH traded down $5.49 during mid-day trading on Friday, reaching $205.79. 389,719 shares of the company's stock traded hands, compared to its average volume of 671,013. The stock has a market cap of $12.44 billion, a P/E ratio of 57.48 and a beta of 1.10. The business has a 50-day simple moving average of $201.05 and a 200 day simple moving average of $190.07. Manhattan Associates, Inc. has a 1-year low of $140.81 and a 1-year high of $312.60.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Redburn Atlantic downgraded shares of Manhattan Associates from a "buy" rating to a "neutral" rating and cut their price target for the stock from $270.00 to $200.00 in a report on Tuesday, June 10th. Loop Capital raised their price target on shares of Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a research note on Tuesday, July 22nd. Truist Financial raised their price target on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Robert W. Baird lifted their target price on shares of Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Finally, Citigroup restated a "neutral" rating and issued a $200.00 price target (up from $177.00) on shares of Manhattan Associates in a report on Wednesday, July 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $216.67.

Manhattan Associates Company 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.