MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Lowers Position in Manhattan Associates, Inc. (NASDAQ:MANH)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH trimmed its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 69.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,702 shares of the software maker’s stock after selling 3,834 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Manhattan Associates were worth $461,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Fidelis Capital Partners LLC lifted its position in Manhattan Associates by 3.2% during the third quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock valued at $347,000 after buying an additional 40 shares in the last quarter. Ascent Group LLC lifted its position in Manhattan Associates by 4.8% during the third quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock valued at $252,000 after buying an additional 41 shares in the last quarter. UMB Bank n.a. lifted its position in Manhattan Associates by 16.7% during the third quarter. UMB Bank n.a. now owns 301 shares of the software maker’s stock valued at $85,000 after buying an additional 43 shares in the last quarter. SkyView Investment Advisors LLC lifted its position in Manhattan Associates by 0.9% during the second quarter. SkyView Investment Advisors LLC now owns 5,018 shares of the software maker’s stock valued at $1,238,000 after buying an additional 46 shares in the last quarter. Finally, Huntington National Bank lifted its position in Manhattan Associates by 5.9% during the third quarter. Huntington National Bank now owns 879 shares of the software maker’s stock valued at $247,000 after buying an additional 49 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Citigroup boosted their target price on shares of Manhattan Associates from $287.00 to $306.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. DA Davidson boosted their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird boosted their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Piper Sandler assumed coverage on shares of Manhattan Associates in a research report on Monday, November 25th. They set an “overweight” rating and a $326.00 target price on the stock. Finally, StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus price target of $292.89.

Manhattan Associates Price Performance

MANH opened at $289.38 on Friday. The stock has a market capitalization of $17.67 billion, a PE ratio of 82.21 and a beta of 1.52. The firm’s fifty day moving average price is $282.35 and its 200 day moving average price is $271.20. Manhattan Associates, Inc. has a 12-month low of $205.12 and a 12-month high of $312.60.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share 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 analyst estimates of $262.90 million. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities research analysts forecast that Manhattan Associates, Inc. will post 3.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the transaction, the executive vice president now owns 42,812 shares in the company, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Bruce Richards sold 4,150 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the transaction, the senior vice president now owns 22,086 shares of the company’s stock, valued at $6,398,976.78. This represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

About Manhattan Associates

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.