Mackenzie Financial Corp Has $710,000 Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Mackenzie Financial Corp lessened its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 95.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,102 shares of the software maker's stock after selling 77,863 shares during the period. Mackenzie Financial Corp's holdings in Manhattan Associates were worth $710,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DAVENPORT & Co LLC acquired a new position in shares of Manhattan Associates during the 1st quarter worth $214,000. Allianz Asset Management GmbH raised its holdings in Manhattan Associates by 18.9% during the first quarter. Allianz Asset Management GmbH now owns 143,687 shares of the software maker's stock worth $24,864,000 after purchasing an additional 22,845 shares during the last quarter. SG Americas Securities LLC boosted its position in Manhattan Associates by 876.3% during the first quarter. SG Americas Securities LLC now owns 7,615 shares of the software maker's stock worth $1,318,000 after purchasing an additional 6,835 shares in the last quarter. Abacus FCF Advisors LLC grew its holdings in Manhattan Associates by 170.0% in the first quarter. Abacus FCF Advisors LLC now owns 32,865 shares of the software maker's stock valued at $5,687,000 after purchasing an additional 20,691 shares during the last quarter. Finally, Merit Financial Group LLC grew its holdings in Manhattan Associates by 165.1% in the first quarter. Merit Financial Group LLC now owns 4,279 shares of the software maker's stock valued at $740,000 after purchasing an additional 2,665 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MANH. Truist Financial upped their price target on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Loop Capital increased their price objective on Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a research note on Tuesday, July 22nd. Morgan Stanley assumed coverage on shares of Manhattan Associates in a research note on Monday, July 14th. They issued an "underweight" rating and a $190.00 target price for the company. Raymond James Financial increased their target price on Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Finally, Robert W. Baird boosted their target price on shares of Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating 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 assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $216.67.

Manhattan Associates Price Performance

Shares of MANH traded down $5.49 during mid-day trading on Friday, hitting $205.79. The company's stock had a trading volume of 389,719 shares, compared to its average volume of 817,338. The firm has a 50-day moving average price of $200.70 and a 200 day moving average price of $190.60. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60. The stock has a market capitalization of $12.44 billion, a price-to-earnings ratio of 57.48 and a beta of 1.10.

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

Insiders Place Their Bets

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

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.