Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Angeles Wealth Management LLC

Angeles Wealth Management LLC lessened its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 16.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,199 shares of the software maker’s stock after selling 237 shares during the quarter. Angeles Wealth Management LLC’s holdings in Manhattan Associates were worth $207,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MANH. Massachusetts Financial Services Co. MA raised its holdings in shares of Manhattan Associates by 101.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker’s stock valued at $452,321,000 after buying an additional 841,276 shares during the period. Norges Bank purchased a new position in Manhattan Associates during the 4th quarter worth approximately $201,377,000. Franklin Resources Inc. raised its position in Manhattan Associates by 43.2% in the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock valued at $517,917,000 after purchasing an additional 578,295 shares during the last quarter. Lazard Asset Management LLC raised its position in Manhattan Associates by 2,075.5% in the 4th quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker’s stock valued at $107,842,000 after purchasing an additional 380,722 shares during the last quarter. Finally, FMR LLC lifted its position in Manhattan Associates by 16.2% during the 4th quarter. FMR LLC now owns 2,227,669 shares of the software maker’s stock worth $602,005,000 after acquiring an additional 310,257 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Trading Down 1.1%

Shares of Manhattan Associates stock opened at $217.75 on Friday. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60. The stock has a market capitalization of $13.22 billion, a P/E ratio of 60.82 and a beta of 1.08. The business’s fifty day moving average price is $195.27 and its 200 day moving average price is $193.31.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.19. The company had revenue of $272.42 million for the quarter, compared to analysts’ expectations of $263.62 million. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.18 earnings per share. As a group, sell-side analysts predict that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MANH shares. Loop Capital increased their price objective on 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 raised their price objective on Manhattan Associates from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday. Robert W. Baird raised their price target on Manhattan Associates from $212.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 16th. Raymond James Financial raised their price target on Manhattan Associates from $195.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Citigroup restated 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus 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.