US Bancorp DE Cuts Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

US Bancorp DE decreased its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 9.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,508 shares of the software maker’s stock after selling 880 shares during the period. US Bancorp DE’s holdings in Manhattan Associates were worth $2,394,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of MANH. M&G Plc acquired a new position in Manhattan Associates during the 1st quarter worth $77,433,000. Fiera Capital Corp acquired a new position in shares of Manhattan Associates during the second quarter worth about $44,705,000. Squarepoint Ops LLC increased its stake in shares of Manhattan Associates by 448.9% during the second quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker’s stock worth $39,629,000 after buying an additional 131,381 shares during the period. Russell Investments Group Ltd. raised its holdings in Manhattan Associates by 173.2% in the first quarter. Russell Investments Group Ltd. now owns 163,497 shares of the software maker’s stock valued at $40,893,000 after acquiring an additional 103,645 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Manhattan Associates by 118.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker’s stock worth $48,860,000 after acquiring an additional 94,283 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Trading Down 0.1 %

Shares of NASDAQ MANH opened at $266.43 on Wednesday. The stock has a market cap of $16.27 billion, a P/E ratio of 75.69 and a beta of 1.52. Manhattan Associates, Inc. has a twelve month low of $199.23 and a twelve month high of $307.50. The stock has a 50 day moving average of $275.96 and a two-hundred day moving average of $248.61.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating the consensus estimate of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The firm had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. During the same quarter in the prior year, the firm earned $0.79 EPS. Manhattan Associates’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, research analysts predict that Manhattan Associates, Inc. will post 3.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Raymond James raised their price objective on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Truist Financial lifted their price target on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, October 11th. DA Davidson increased their price objective on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird boosted their target price on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $286.38.

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.