National Bank of Canada FI Sells 30,003 Shares of Manhattan Associates, Inc. $MANH

Key Points

• National Bank of Canada FI significantly reduced its stake in Manhattan Associates by 99.1%, selling 30,003 shares, leaving it with only 276 shares valued at $48,000.
• Several hedge funds have increased their holdings in Manhattan Associates, with Lazard Asset Management boosting its stake by 2,075.5% and GAMMA Investing LLC by 10,499.0%.
• Manhattan Associates reported earnings of $1.31 per share, exceeding estimates, with revenues growing 2.7% year-over-year to $272.42 million.

National Bank of Canada FI trimmed its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 99.1% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 276 shares of the software maker's stock after selling 30,003 shares during the period. National Bank of Canada FI's holdings in Manhattan Associates were worth $48,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Lazard Asset Management LLC boosted its holdings in Manhattan Associates by 2,075.5% in the fourth quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker's stock valued at $107,842,000 after acquiring an additional 380,722 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Manhattan Associates by 10,499.0% in the 1st quarter. GAMMA Investing LLC now owns 176,155 shares of the software maker's stock valued at $30,482,000 after purchasing an additional 174,493 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Manhattan Associates by 26.5% in the 4th quarter. Northern Trust Corp now owns 761,820 shares of the software maker's stock valued at $205,874,000 after purchasing an additional 159,572 shares during the last quarter. AustralianSuper Pty Ltd boosted its stake in Manhattan Associates by 59.6% in the first quarter. AustralianSuper Pty Ltd now owns 371,526 shares of the software maker's stock valued at $64,289,000 after acquiring an additional 138,807 shares during the last quarter. Finally, Premier Fund Managers Ltd boosted its stake in Manhattan Associates by 50.1% in the first quarter. Premier Fund Managers Ltd now owns 300,122 shares of the software maker's stock valued at $52,055,000 after acquiring an additional 100,122 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, Chairman Eddie Capel sold 37,342 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $222.18, for a total transaction of $8,296,645.56. Following the transaction, the chairman owned 162,988 shares in the company, valued at $36,212,673.84. This trade represents a 18.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James Stewart Gantt sold 2,300 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $220.33, for a total transaction of $506,759.00. Following the transaction, the executive vice president directly owned 48,660 shares in the company, valued at approximately $10,721,257.80. This represents a 4.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,666 shares of company stock worth $9,251,781. Company insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MANH. Raymond James Financial raised their price objective on shares of Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Robert W. Baird lifted their price objective 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. Morgan Stanley assumed coverage on shares of Manhattan Associates in a research report on Monday, July 14th. They set an "underweight" rating and a $190.00 price target on the stock. DA Davidson lifted their target price on Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Truist Financial lifted 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Manhattan Associates currently has a consensus rating of "Hold" and an average target price of $216.67.

Manhattan Associates Price Performance

Shares of MANH opened at $216.85 on Tuesday. The firm has a market capitalization of $13.11 billion, a PE ratio of 60.57 and a beta of 1.10. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60. The company's 50-day moving average is $203.97 and its 200-day moving average is $187.14.

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, beating the consensus estimate of $1.12 by $0.19. The firm had revenue of $272.42 million for the quarter, compared to analysts' expectations of $263.62 million. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The business's revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.18 EPS. Analysts predict that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

About Manhattan Associates

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.

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