Burney Co. Sells 334 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Burney Co. reduced its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 14.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,007 shares of the software maker’s stock after selling 334 shares during the quarter. Burney Co.’s holdings in Manhattan Associates were worth $347,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of MANH. Central Pacific Bank Trust Division boosted its stake in shares of Manhattan Associates by 107.3% in the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker’s stock valued at $34,000 after purchasing an additional 103 shares during the last quarter. Park Square Financial Group LLC bought a new position in Manhattan Associates during the fourth quarter worth $38,000. Transce3nd LLC acquired a new stake in Manhattan Associates in the fourth quarter worth $41,000. Reyes Financial Architecture Inc. increased its stake in Manhattan Associates by 42.5% in the first 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 in the last quarter. Finally, Harbor Investment Advisory LLC increased its stake in Manhattan Associates by 57.7% in the first 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 in the last quarter. 98.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MANH has been the subject of several research analyst reports. Truist Financial lifted their price target on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup reaffirmed a “neutral” rating and issued a $200.00 price target (up from $177.00) on shares of Manhattan Associates in a research note on Wednesday, July 16th. DA Davidson lifted their price target on shares of Manhattan Associates from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday. Redburn Atlantic downgraded shares of Manhattan Associates from a “buy” rating to a “neutral” rating and decreased their price target for the company from $270.00 to $200.00 in a research note on Tuesday, June 10th. Finally, Morgan Stanley initiated 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 issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $216.67.

Manhattan Associates Trading Down 1.1%

MANH opened at $217.75 on Friday. The company’s fifty day moving average price is $195.27 and its two-hundred day moving average price is $193.86. Manhattan Associates, Inc. has a 1-year low of $140.81 and a 1-year high of $312.60. The company has a market cap of $13.22 billion, a price-to-earnings ratio of 60.82 and a beta of 1.08.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.19. The firm had revenue of $272.42 million for 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 business’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 earnings per share. As a group, equities 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.