Universal Beteiligungs und Servicegesellschaft mbH Cuts Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH sold 2,478 shares of Manhattan Associates, Inc., reducing its stake by 5.8%, and now owns approximately 40,444 shares valued at $6,998,000.
• Multiple institutional investors significantly increased their holdings in Manhattan Associates during the fourth quarter, including a 101.1% stake increase by Massachusetts Financial Services.
• Analysts have recently upgraded their price targets for Manhattan Associates, with Truist Financial raising its target from $210 to $230 and DA Davidson from $225 to $250, maintaining strong buy ratings.

Universal Beteiligungs und Servicegesellschaft mbH lowered its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 5.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,444 shares of the software maker's stock after selling 2,478 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.07% of Manhattan Associates worth $6,998,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its stake in shares of Manhattan Associates by 23.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 972 shares of the software maker's stock worth $263,000 after purchasing an additional 186 shares during the last quarter. LPL Financial LLC raised its stake in shares of Manhattan Associates by 22.1% during the fourth quarter. LPL Financial LLC now owns 39,565 shares of the software maker's stock worth $10,724,000 after purchasing an additional 7,162 shares during the last quarter. WINTON GROUP Ltd grew its holdings in Manhattan Associates by 37.7% during the fourth quarter. WINTON GROUP Ltd now owns 4,111 shares of the software maker's stock worth $1,111,000 after acquiring an additional 1,126 shares during the period. Norges Bank acquired a new position in Manhattan Associates during the fourth quarter worth $201,377,000. Finally, New Age Alpha Advisors LLC acquired a new position in Manhattan Associates during the fourth quarter worth $3,515,000. Hedge funds and other institutional investors own 98.45% of the company's stock.

Manhattan Associates Stock Up 1.1%

Shares of MANH traded up $2.53 during trading hours on Wednesday, reaching $227.94. 1,351,299 shares of the company traded hands, compared to its average volume of 573,811. The stock has a market capitalization of $13.78 billion, a PE ratio of 63.67 and a beta of 1.08. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60. The stock has a fifty day simple moving average of $197.31 and a 200 day simple moving average of $192.92.

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

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, 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 value of $506,759.00. Following the sale, the executive vice president directly owned 48,660 shares of the company's stock, valued at approximately $10,721,257.80. This trade represents a 4.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.88% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Robert W. Baird upped their price objective on Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Citigroup reaffirmed a "neutral" rating and set a $200.00 price objective (up previously from $177.00) on shares of Manhattan Associates in a report on Wednesday, July 16th. Redburn Atlantic lowered Manhattan Associates from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $270.00 to $200.00 in a report on Tuesday, June 10th. Truist Financial upped their price objective on Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Raymond James Financial upped their target price on Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a report 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 given a buy rating to the stock. Based on data from MarketBeat.com, the company currently 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.