Manhattan Associates, Inc. $MANH Shares Sold by Quantinno Capital Management LP

Key Points

• Quantinno Capital Management cut its Manhattan Associates stake by 22.6% in the first quarter, selling 29,257 shares and retaining 99,963 shares valued at about $13.3 million. Institutional investors and hedge funds collectively own 98.45% of the company.
• Analysts remain broadly positive, with eight Buy ratings and three Holds, producing a consensus rating of “Moderate Buy” and an average price target of $209.20. Several firms recently raised their targets, including Stifel Nicolaus to $225 and DA Davidson to $210.
• Manhattan Associates exceeded quarterly expectations, reporting $1.39 in adjusted EPS versus $1.32 expected and $297.79 million in revenue versus $289.03 million forecast; revenue increased 9.3% year over year.

Quantinno Capital Management LP lowered its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 22.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 99,963 shares of the software maker's stock after selling 29,257 shares during the quarter. Quantinno Capital Management LP owned approximately 0.17% of Manhattan Associates worth $13,307,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Manhattan Associates by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 6,957,028 shares of the software maker's stock valued at $1,205,723,000 after purchasing an additional 136,708 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake 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 worth $447,182,000 after purchasing an additional 671,589 shares in the last quarter. AQR Capital Management LLC increased its holdings in Manhattan Associates by 6.9% in the fourth quarter. AQR Capital Management LLC now owns 2,219,539 shares of the software maker's stock valued at $384,668,000 after buying an additional 142,407 shares during the last quarter. Morgan Stanley increased its holdings in Manhattan Associates by 2.5% in the fourth quarter. Morgan Stanley now owns 2,178,422 shares of the software maker's stock valued at $377,543,000 after buying an additional 53,037 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Manhattan Associates by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker's stock valued at $305,199,000 after buying an additional 88,005 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MANH. DA Davidson lifted their price target on Manhattan Associates from $200.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. Weiss Ratings raised Manhattan Associates from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 14th. Stifel Nicolaus boosted their target price on Manhattan Associates from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Morgan Stanley set a $180.00 target price on Manhattan Associates in a research note on Wednesday, July 29th. Finally, Citigroup upped their price target on Manhattan Associates from $177.00 to $193.00 and gave the company a "buy" rating in a report on Tuesday, July 21st. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $209.20.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, CEO Eric Andrew Clark sold 1,000 shares of the firm's stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $146.77, for a total transaction of $146,770.00. Following the transaction, the chief executive officer directly owned 92,638 shares of the company's stock, valued at approximately $13,596,479.26. This trade represents a 1.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP James Stewart Gantt sold 5,139 shares of Manhattan Associates stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the completion of the transaction, the executive vice president owned 55,676 shares in the company, valued at approximately $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 corporate insiders.

Manhattan Associates Stock Down 2.2%

NASDAQ:MANH opened at $187.24 on Tuesday. The company has a market capitalization of $11.08 billion, a PE ratio of 53.65 and a beta of 0.97. Manhattan Associates, Inc. has a 52-week low of $119.06 and a 52-week high of $220.72. The stock's 50 day moving average price is $151.44 and its 200 day moving average price is $145.36.

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