United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Trims Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Key Points

• United Super Pty Ltd reduced its stake in Manhattan Associates, Inc. by 50.0%, owning 1,300 shares worth approximately $225,000 at the end of the quarter.
• Insider trading activity included EVP James Stewart Gantt selling 2,300 shares for about $506,759, reducing his ownership by 4.51%.
• Manhattan Associates' stock is down 2.3% and has a market capitalization of $12.98 billion, with a PE ratio of 59.96 and an average target price of $216.67 from analysts.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund reduced its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 50.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,300 shares of the software maker's stock after selling 1,300 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund's holdings in Manhattan Associates were worth $225,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Central Pacific Bank Trust Division grew its position in Manhattan Associates by 107.3% in the first quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock worth $34,000 after acquiring an additional 103 shares in the last quarter. Park Square Financial Group LLC purchased a new position in Manhattan Associates in the fourth quarter worth $38,000. Transce3nd LLC purchased a new position in Manhattan Associates in the fourth quarter worth $41,000. Reyes Financial Architecture Inc. grew its position in Manhattan Associates by 42.5% in the first quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock worth $82,000 after acquiring an additional 142 shares in the last quarter. Finally, Bayforest Capital Ltd grew its position in Manhattan Associates by 126.6% in the first quarter. Bayforest Capital Ltd now owns 494 shares of the software maker's stock worth $85,000 after acquiring an additional 276 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP James Stewart Gantt sold 2,300 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $220.33, for a total transaction of $506,759.00. Following the completion of the transaction, the executive vice president directly owned 48,660 shares of the company's stock, valued at approximately $10,721,257.80. This represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Linda T. Hollembaek sold 2,024 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total transaction of $448,376.72. Following the transaction, the director directly owned 11,907 shares of the company's stock, valued at approximately $2,637,757.71. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,666 shares of company stock valued at $9,251,781. Insiders own 0.88% of the company's stock.

Manhattan Associates Stock Down 2.3%

Manhattan Associates stock opened at $214.66 on Friday. The company has a market capitalization of $12.98 billion, a PE ratio of 59.96 and a beta of 1.10. The firm has a fifty day simple moving average of $198.54 and a two-hundred day simple moving average of $191.65. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 EPS for the quarter, beating the consensus estimate of $1.12 by $0.19. The firm had revenue of $272.42 million during the quarter, compared to the consensus estimate of $263.62 million. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The company's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.18 earnings per share. As a group, equities analysts expect that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MANH. Loop Capital upped their target price on shares of Manhattan Associates from $170.00 to $200.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. DA Davidson upped their target price on shares of Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Citigroup reiterated a "neutral" rating and issued a $200.00 target price (up from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Robert W. Baird boosted their price target 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. Finally, Morgan Stanley assumed coverage on shares of Manhattan Associates in a research note on Monday, July 14th. They issued an "underweight" rating and a $190.00 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $216.67.

Manhattan Associates Company 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.

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