Skandinaviska Enskilda Banken AB publ Has $60.22 Million Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Key Points

• Skandinaviska Enskilda Banken AB publ has reduced its stock holdings in Manhattan Associates, Inc. by 20.7% during the first quarter, now owning approximately 348,009 shares valued at $60.22 million.
• Multiple analysts have upgraded their price targets for Manhattan Associates, with Loop Capital raising its target from $170 to $200 and DA Davidson increasing its target from $225 to $250.
• Manhattan Associates reported earnings of $1.31 per share for the latest quarter, exceeding analysts' expectations, with a revenue of $272.42 million and a net margin of 20.91%.

Skandinaviska Enskilda Banken AB publ reduced its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 20.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 348,009 shares of the software maker's stock after selling 90,751 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.57% of Manhattan Associates worth $60,223,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Central Pacific Bank Trust Division increased its holdings in Manhattan Associates by 107.3% during the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock worth $34,000 after purchasing an additional 103 shares during the last quarter. Park Square Financial Group LLC acquired a new position in shares of Manhattan Associates in the 4th quarter worth approximately $38,000. Transce3nd LLC acquired a new position in shares of Manhattan Associates in the 4th quarter worth approximately $41,000. Reyes Financial Architecture Inc. boosted its position in Manhattan Associates by 42.5% during the 1st quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock valued at $82,000 after purchasing an additional 142 shares during the period. Finally, Harbor Investment Advisory LLC boosted its position in Manhattan Associates by 57.7% during the 1st quarter. Harbor Investment Advisory LLC now owns 552 shares of the software maker's stock valued at $96,000 after purchasing an additional 202 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on MANH. Redburn Atlantic lowered Manhattan Associates from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $270.00 to $200.00 in a research report on Tuesday, June 10th. Citigroup reiterated a "neutral" rating and set a $200.00 price target (up previously from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. DA Davidson boosted their price target on Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Robert W. Baird boosted their price target on Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Finally, Loop Capital boosted their price target on Manhattan Associates from $170.00 to $200.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $216.67.

Manhattan Associates Trading Up 0.2%

NASDAQ MANH traded up $0.43 on Tuesday, reaching $221.90. The stock had a trading volume of 255,143 shares, compared to its average volume of 823,838. The business has a 50 day moving average price of $195.84 and a 200 day moving average price of $192.45. Manhattan Associates, Inc. has a 1 year low of $140.81 and a 1 year high of $312.60. The company has a market capitalization of $13.47 billion, a price-to-earnings ratio of 62.04 and a beta of 1.08.

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 (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.19. The company had revenue of $272.42 million during the quarter, compared to the consensus estimate of $263.62 million. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%. The firm's revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.18 EPS. On average, analysts anticipate that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

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.