Elite Wealth Management Inc. Trims Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Elite Wealth Management Inc. reduced its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,582 shares of the software maker’s stock after selling 109 shares during the period. Manhattan Associates accounts for 0.2% of Elite Wealth Management Inc.’s portfolio, making the stock its 21st biggest position. Elite Wealth Management Inc.’s holdings in Manhattan Associates were worth $2,709,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MANH. Private Advisor Group LLC boosted its stake in shares of Manhattan Associates by 19.6% during the 1st quarter. Private Advisor Group LLC now owns 1,911 shares of the software maker’s stock valued at $265,000 after buying an additional 313 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Manhattan Associates by 7.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,518 shares of the software maker’s stock valued at $349,000 after buying an additional 174 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Manhattan Associates by 8.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 34,926 shares of the software maker’s stock valued at $4,978,000 after buying an additional 2,644 shares during the last quarter. Raymond James Trust N.A. boosted its stake in shares of Manhattan Associates by 6.2% during the 1st quarter. Raymond James Trust N.A. now owns 2,841 shares of the software maker’s stock valued at $394,000 after buying an additional 166 shares during the last quarter. Finally, Aviva PLC boosted its stake in shares of Manhattan Associates by 6.1% during the 1st quarter. Aviva PLC now owns 16,701 shares of the software maker’s stock valued at $2,317,000 after buying an additional 965 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 680 shares of the firm’s 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 transaction, the executive vice president now directly owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP James Stewart Gantt sold 680 shares of the firm’s 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 transaction, the executive vice president now directly owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the chief executive officer now directly owns 242,153 shares in the company, valued at $59,988,562.69. The disclosure for this sale can be found here. 0.85% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Manhattan Associates Stock Down 0.5 %

NASDAQ MANH traded down $1.08 during trading hours on Wednesday, hitting $230.08. The company had a trading volume of 60,460 shares, compared to its average volume of 361,065. Manhattan Associates, Inc. has a fifty-two week low of $152.32 and a fifty-two week high of $266.94. The business has a fifty day simple moving average of $247.78 and a 200-day simple moving average of $226.05. The firm has a market cap of $14.17 billion, a P/E ratio of 81.97 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.23. Manhattan Associates had a return on equity of 84.08% and a net margin of 19.01%. The firm had revenue of $238.26 million for the quarter, compared to analyst estimates of $223.99 million. Equities analysts forecast that Manhattan Associates, Inc. will post 2.78 EPS for the current fiscal year.

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.