Desjardins Global Asset Management Inc. Sells 923 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Desjardins Global Asset Management Inc. reduced its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 11.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 7,045 shares of the software maker’s stock after selling 923 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Manhattan Associates were worth $1,517,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky grew its stake in Manhattan Associates by 59.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 21,612 shares of the software maker’s stock worth $4,271,000 after acquiring an additional 8,094 shares in the last quarter. Highland Capital Management LLC purchased a new stake in shares of Manhattan Associates in the 4th quarter worth approximately $1,142,000. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Manhattan Associates in the 4th quarter worth approximately $1,050,000. Zions Bancorporation N.A. lifted its position in shares of Manhattan Associates by 6.2% in the 3rd quarter. Zions Bancorporation N.A. now owns 8,418 shares of the software maker’s stock worth $1,664,000 after purchasing an additional 489 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Manhattan Associates in the 4th quarter worth approximately $2,039,000. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Trading Up 0.3 %

NASDAQ MANH opened at $231.16 on Wednesday. The company has a fifty day simple moving average of $247.78 and a two-hundred day simple moving average of $226.05. The stock has a market cap of $14.23 billion, a P/E ratio of 81.97 and a beta of 1.44. Manhattan Associates, Inc. has a 12-month low of $152.32 and a 12-month high of $266.94.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.23. The business had revenue of $238.26 million during the quarter, compared to analysts’ expectations of $223.99 million. Manhattan Associates had a net margin of 19.01% and a return on equity of 84.08%. As a group, sell-side analysts forecast that Manhattan Associates, Inc. will post 2.78 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Manhattan Associates in a research report on Monday. Truist Financial increased their target price on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Citigroup began coverage on shares of Manhattan Associates in a research report on Wednesday, March 13th. They set a “neutral” rating and a $260.00 target price for the company. Finally, Raymond James increased their target price on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Manhattan Associates currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.29.

Insiders Place Their Bets

In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total value of $2,699,513.81. Following the completion of the transaction, the chief executive officer now owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Eddie Capel sold 10,897 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total value of $2,699,513.81. Following the sale, the chief executive officer now owns 242,153 shares in the company, valued at $59,988,562.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James Stewart Gantt sold 680 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total transaction of $169,211.20. Following the completion of the sale, the executive vice president now owns 57,093 shares in the company, valued at approximately $14,207,022.12. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.

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.