Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 402,154 shares of the software maker’s stock after selling 2,775 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.66% of Manhattan Associates worth $113,158,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Banco Santander S.A. raised its holdings in shares of Manhattan Associates by 1.3% during the 3rd quarter. Banco Santander S.A. now owns 73,240 shares of the software maker’s stock valued at $20,608,000 after buying an additional 955 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in shares of Manhattan Associates during the third quarter valued at approximately $234,249,000. First Horizon Advisors Inc. lifted its position in shares of Manhattan Associates by 40.9% during the third quarter. First Horizon Advisors Inc. now owns 327 shares of the software maker’s stock worth $92,000 after purchasing an additional 95 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in shares of Manhattan Associates in the third quarter valued at $747,000. Finally, PNC Financial Services Group Inc. grew its holdings in Manhattan Associates by 50.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,751 shares of the software maker’s stock valued at $1,337,000 after purchasing an additional 1,591 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Raymond James boosted their price objective on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Citigroup increased their price target on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Loop Capital lifted their price objective on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Piper Sandler began coverage on Manhattan Associates in a research note on Monday. They set an “overweight” rating and a $326.00 target price for the company. Finally, Robert W. Baird lifted their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Manhattan Associates presently has an average rating of “Moderate Buy” and an average price target of $290.78.

Manhattan Associates Price Performance

MANH stock opened at $290.74 on Tuesday. The firm has a market cap of $17.76 billion, a price-to-earnings ratio of 82.60 and a beta of 1.52. Manhattan Associates, Inc. has a 1-year low of $199.23 and a 1-year high of $307.50. The firm has a fifty day moving average price of $281.33 and a two-hundred day moving average price of $255.41.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The business 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. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, analysts expect that Manhattan Associates, Inc. will post 3.4 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.