KBC Group NV Sells 60,067 Shares of Manhattan Associates, Inc. $MANH

KBC Group NV lowered its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 68.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 27,586 shares of the software maker’s stock after selling 60,067 shares during the period. KBC Group NV’s holdings in Manhattan Associates were worth $3,672,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in Manhattan Associates by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker’s stock worth $305,199,000 after buying an additional 88,005 shares in the last quarter. MUFG Securities EMEA plc bought a new position in Manhattan Associates during the 4th quarter valued at $6,066,000. John G Ullman & Associates Inc. bought a new position in Manhattan Associates during the 4th quarter valued at $2,106,000. VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in shares of Manhattan Associates by 30.6% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 187,555 shares of the software maker’s stock worth $32,505,000 after acquiring an additional 43,955 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Manhattan Associates by 771.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 63,117 shares of the software maker’s stock valued at $10,939,000 after purchasing an additional 55,877 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH opened at $151.67 on Friday. The company has a market capitalization of $8.97 billion, a P/E ratio of 42.48 and a beta of 0.97. The company’s 50-day moving average is $145.84 and its 200 day moving average is $145.09. Manhattan Associates, Inc. has a fifty-two week low of $119.06 and a fifty-two week high of $229.57.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, April 21st. The software maker reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.14. The business had revenue of $282.21 million during the quarter, compared to the consensus estimate of $273.70 million. Manhattan Associates had a net margin of 19.68% and a return on equity of 78.13%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.19 earnings per share. As a group, research analysts predict that Manhattan Associates, Inc. will post 3.77 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. DA Davidson reissued a “buy” rating and set a $200.00 target price on shares of Manhattan Associates in a research report on Wednesday, May 20th. Citigroup lifted their target price on shares of Manhattan Associates from $177.00 to $193.00 and gave the stock a “buy” rating in a research report on Tuesday. Barclays cut their target price on Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Finally, Robert W. Baird upped their target price on Manhattan Associates from $183.00 to $186.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $201.00.

Insiders Place Their Bets

In other news, CEO Eric Andrew Clark sold 1,000 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $146.77, for a total transaction of $146,770.00. Following the completion of the transaction, the chief executive officer directly owned 92,638 shares of the company’s stock, valued at $13,596,479.26. This represents a 1.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.84% of the stock is currently owned by insiders.

About Manhattan Associates

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.