Manhattan Associates, Inc. $MANH Stock: M&G PLC Decreases Stake

Key Points

• M&G PLC cut its Manhattan Associates stake by 18.8% in the third quarter, selling 37,009 shares and retaining 159,398 shares valued at about $31.7 million.
• Manhattan Associates reported quarterly results above expectations: earnings of $1.55 per share versus $1.46 expected, while revenue rose 11% year over year to $306.2 million.
• Analysts maintained a “Moderate Buy” consensus with an average price target of $261.11; eight analysts rated the stock Buy and two rated it Hold.

M&G PLC lessened its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 18.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 159,398 shares of the software maker's stock after selling 37,009 shares during the quarter. M&G PLC owned approximately 0.27% of Manhattan Associates worth $31,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of MANH. BlackRock Inc. bought a new position in Manhattan Associates in the 2nd quarter worth $944,285,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in Manhattan Associates by 0.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 711,615 shares of the software maker's stock valued at $141,398,000 after purchasing an additional 3,658 shares during the period. William Blair Investment Management LLC bought a new stake in Manhattan Associates during the second quarter valued at about $94,049,000. Bessemer Group Inc. increased its position in Manhattan Associates by 6.2% in the first quarter. Bessemer Group Inc. now owns 670,427 shares of the software maker's stock worth $89,247,000 after buying an additional 39,125 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Manhattan Associates by 28.5% in the first quarter. Renaissance Technologies LLC now owns 654,760 shares of the software maker's stock worth $87,162,000 after buying an additional 145,200 shares in the last quarter. Institutional investors own 98.45% of the company's stock.

Manhattan Associates Trading Down 0.4%

NASDAQ:MANH opened at $251.72 on Tuesday. Manhattan Associates, Inc. has a 12-month low of $119.06 and a 12-month high of $263.47. The stock has a 50-day moving average price of $221.08 and a 200 day moving average price of $169.18. The stock has a market capitalization of $14.61 billion, a P/E ratio of 70.51 and a beta of 0.85.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The software maker reported $1.55 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.09. Manhattan Associates had a return on equity of 98.67% and a net margin of 18.41%. The company had revenue of $306.19 million for the quarter, compared to analysts' expectations of $297.01 million. During the same period in the previous year, the firm earned $1.36 EPS. The firm's revenue was up 11.0% compared to the same quarter last year. On average, research analysts predict that Manhattan Associates, Inc. will post 3.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MANH has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on Manhattan Associates from $250.00 to $300.00 and gave the company a "buy" rating in a research report on Wednesday, October 28th. Morgan Stanley raised shares of Manhattan Associates from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $180.00 to $250.00 in a report on Monday, October 12th. DA Davidson raised their target price on shares of Manhattan Associates from $210.00 to $230.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 28th. UBS Group set a $305.00 price target on shares of Manhattan Associates in a report on Wednesday, October 28th. Finally, Wall Street Zen lowered shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Sunday, November 1st. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $261.11.

Insider Activity

In other news, Director Linda Hollembaek sold 1,315 shares of the business's stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $250.00, for a total value of $328,750.00. Following the transaction, the director owned 10,953 shares of the company's stock, valued at approximately $2,738,250. The trade was a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.84% of the stock is currently owned by insiders.

Manhattan Associates Profile

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