Vestcor Inc Sells 4,404 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Key Points

• Vestcor Inc reduced its stake in Manhattan Associates, Inc. by 80.7%, selling 4,404 shares and holding only 1,052 shares valued at $182,000 by the end of the first quarter.
• Stock analysts have set a consensus price target of $216.67 for Manhattan Associates, with six analysts issuing buy ratings and one issuing a sell rating.
• Chairman Eddie Capel sold 37,342 shares at an average price of $222.18, decreasing his ownership by 18.64% and bringing his total holdings to 162,988 shares valued at over $36 million.

Vestcor Inc decreased its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 80.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,052 shares of the software maker's stock after selling 4,404 shares during the quarter. Vestcor Inc's holdings in Manhattan Associates were worth $182,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. XTX Topco Ltd increased its position in shares of Manhattan Associates by 74.5% in the first quarter. XTX Topco Ltd now owns 7,100 shares of the software maker's stock valued at $1,229,000 after buying an additional 3,031 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Manhattan Associates in the 1st quarter worth about $661,000. Premier Fund Managers Ltd boosted its stake in Manhattan Associates by 50.1% in the 1st quarter. Premier Fund Managers Ltd now owns 300,122 shares of the software maker's stock worth $52,055,000 after buying an additional 100,122 shares during the last quarter. Meeder Advisory Services Inc. boosted its stake in Manhattan Associates by 40.1% in the 1st quarter. Meeder Advisory Services Inc. now owns 1,681 shares of the software maker's stock worth $291,000 after buying an additional 481 shares during the last quarter. Finally, First National Advisers LLC lifted its stake in shares of Manhattan Associates by 2.2% in the 1st quarter. First National Advisers LLC now owns 11,846 shares of the software maker's stock valued at $2,049,000 after purchasing an additional 251 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Insider Buying and Selling at Manhattan Associates

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Truist Financial raised their target price on Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Redburn Atlantic lowered Manhattan Associates from a "buy" rating to a "neutral" rating and dropped their price target for the company from $270.00 to $200.00 in a research report on Tuesday, June 10th. Raymond James Financial increased their target price on shares of Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Loop Capital upped their price objective on Manhattan Associates from $170.00 to $200.00 and gave the stock a "hold" rating in a research note on Tuesday, July 22nd. Finally, 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $216.67.

Manhattan Associates Stock Down 2.6%

Shares of MANH stock traded down $5.51 during mid-day trading on Friday, reaching $205.77. The stock had a trading volume of 183,273 shares, compared to its average volume of 815,881. The firm's 50 day simple moving average is $200.70 and its 200 day simple moving average is $190.60. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60. The firm has a market cap of $12.44 billion, a PE ratio of 57.50 and a beta of 1.10.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its 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 business had revenue of $272.42 million during the quarter, compared to analysts' expectations of $263.62 million. During the same period in the prior year, the firm posted $1.18 EPS. Manhattan Associates's quarterly revenue was up 2.7% compared to the same quarter last year. Sell-side analysts forecast 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.