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Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Pacer Advisors Inc.

Manhattan Associates logo with Computer and Technology background

Key Points

  • Pacer Advisors Inc. reduced its position in Manhattan Associates by 24.7%, bringing its holdings down to 22,736 shares valued at approximately $3.93 million.
  • Despite this reduction, other investors increased their stakes significantly, with Central Pacific Bank Trust Division boosting its share by 107.3%, now owning 199 shares worth $34,000.
  • Manhattan Associates' stock experienced a 1.8% increase, trading at $225.41, while analysts have raised their price targets with a consensus rating of "Hold" and a target price of $216.67.
  • Five stocks to consider instead of Manhattan Associates.

Pacer Advisors Inc. reduced its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 24.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,736 shares of the software maker's stock after selling 7,451 shares during the period. Pacer Advisors Inc.'s holdings in Manhattan Associates were worth $3,934,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in MANH. BOKF NA lifted its stake in shares of Manhattan Associates by 0.4% in the fourth quarter. BOKF NA now owns 13,271 shares of the software maker's stock valued at $3,522,000 after purchasing an additional 55 shares during the period. Linden Thomas Advisory Services LLC grew its position in Manhattan Associates by 1.1% during the first quarter. Linden Thomas Advisory Services LLC now owns 6,552 shares of the software maker's stock worth $1,134,000 after buying an additional 73 shares during the period. Seeds Investor LLC increased its holdings in Manhattan Associates by 5.0% in the fourth quarter. Seeds Investor LLC now owns 1,556 shares of the software maker's stock valued at $420,000 after buying an additional 74 shares in the last quarter. Signaturefd LLC lifted its position in shares of Manhattan Associates by 6.9% during the 1st quarter. Signaturefd LLC now owns 1,285 shares of the software maker's stock valued at $222,000 after acquiring an additional 83 shares during the period. Finally, Fifth Third Bancorp boosted its stake in shares of Manhattan Associates by 14.6% during the 1st quarter. Fifth Third Bancorp now owns 691 shares of the software maker's stock worth $120,000 after acquiring an additional 88 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MANH shares. Redburn Atlantic cut Manhattan Associates from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $270.00 to $200.00 in a report on Tuesday, June 10th. Robert W. Baird upped their target price on Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Citigroup restated a "neutral" rating and issued a $200.00 price target (up previously from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Morgan Stanley assumed coverage on shares of Manhattan Associates in a research report on Monday, July 14th. They issued an "underweight" rating and a $190.00 price objective on the stock. Finally, Raymond James Financial increased 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $216.67.

View Our Latest Stock Analysis on MANH

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 2,300 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $220.33, for a total value of $506,759.00. Following the completion of the sale, the executive vice president owned 48,660 shares of the company's stock, valued at $10,721,257.80. This represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Eddie Capel sold 37,342 shares of Manhattan Associates 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 sale, the chairman directly owned 162,988 shares in the company, valued at $36,212,673.84. This trade represents a 18.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,666 shares of company stock valued at $9,251,781 over the last ninety days. Corporate insiders own 0.88% of the company's stock.

Manhattan Associates Trading Down 2.3%

Shares of Manhattan Associates stock traded down $5.05 during mid-day trading on Friday, hitting $214.62. 135,035 shares of the stock were exchanged, compared to its average volume of 827,563. The stock has a market capitalization of $12.98 billion, a price-to-earnings ratio of 59.95 and a beta of 1.08. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60. The company has a 50-day simple moving average of $197.95 and a 200 day simple moving average of $192.61.

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

Manhattan Associates Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Manhattan Associates (NASDAQ:MANH)

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