Forsta AP Fonden Sells 19,798 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Forsta AP Fonden lessened its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 60.0% in the first quarter, Holdings Channel.com reports. The firm owned 13,200 shares of the software maker’s stock after selling 19,798 shares during the period. Forsta AP Fonden’s holdings in Manhattan Associates were worth $2,284,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MANH. Raymond James Financial Inc. bought a new position in Manhattan Associates during the fourth quarter worth about $49,416,000. Barclays PLC boosted its position in shares of Manhattan Associates by 40.7% in the fourth quarter. Barclays PLC now owns 99,259 shares of the software maker’s stock valued at $26,824,000 after acquiring an additional 28,702 shares during the period. CreativeOne Wealth LLC boosted its position in shares of Manhattan Associates by 6.5% in the fourth quarter. CreativeOne Wealth LLC now owns 5,106 shares of the software maker’s stock valued at $1,380,000 after acquiring an additional 310 shares during the period. XTX Topco Ltd bought a new position in shares of Manhattan Associates in the fourth quarter valued at approximately $1,100,000. Finally, Jump Financial LLC bought a new position in shares of Manhattan Associates in the fourth quarter valued at approximately $687,000. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

Shares of MANH opened at $212.75 on Wednesday. The firm has a market cap of $12.86 billion, a price-to-earnings ratio of 59.43 and a beta of 1.10. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60. The firm has a 50 day moving average price of $201.98 and a 200-day moving average price of $188.35.

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

Insider Transactions at Manhattan Associates

In other news, Chairman Eddie Capel sold 37,342 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $222.18, for a total value of $8,296,645.56. Following the completion of the sale, the chairman directly owned 162,988 shares in the company, valued at approximately $36,212,673.84. The trade was a 18.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Linda T. Hollembaek sold 2,024 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $221.53, for a total transaction of $448,376.72. Following the completion of the sale, the director owned 11,907 shares of the company’s stock, valued at approximately $2,637,757.71. The trade was 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 sold 41,666 shares of company stock worth $9,251,781. 0.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MANH shares. Citigroup restated a “neutral” rating and issued a $200.00 price objective (up from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Robert W. Baird raised their price objective on shares of Manhattan Associates from $212.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. DA Davidson raised their price objective on shares of Manhattan Associates from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Morgan Stanley began coverage on shares of Manhattan Associates in a research note on Monday, July 14th. They issued an “underweight” rating and a $190.00 target price on the stock. Finally, Redburn Atlantic downgraded shares of Manhattan Associates from a “buy” rating to a “neutral” rating and lowered their target price for the company from $270.00 to $200.00 in a research note on Tuesday, June 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Manhattan Associates has a consensus rating of “Hold” and an average target price 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.