Shell Asset Management Co. Cuts Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Shell Asset Management Co. lessened its stake in Manhattan Associates, Inc. (NASDAQ:MANHGet Rating) by 12.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,807 shares of the software maker’s stock after selling 704 shares during the quarter. Shell Asset Management Co.’s holdings in Manhattan Associates were worth $667,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Invesco Ltd. increased its holdings in Manhattan Associates by 16.3% in the 4th quarter. Invesco Ltd. now owns 3,436,974 shares of the software maker’s stock worth $534,415,000 after acquiring an additional 481,951 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Manhattan Associates by 5.0% during the fourth quarter. Alliancebernstein L.P. now owns 2,223,608 shares of the software maker’s stock worth $345,749,000 after buying an additional 106,752 shares in the last quarter. State Street Corp grew its holdings in shares of Manhattan Associates by 0.8% during the fourth quarter. State Street Corp now owns 1,656,816 shares of the software maker’s stock worth $257,618,000 after buying an additional 13,670 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Manhattan Associates by 26.7% during the fourth quarter. Acadian Asset Management LLC now owns 656,049 shares of the software maker’s stock worth $101,985,000 after buying an additional 138,276 shares in the last quarter. Finally, GW&K Investment Management LLC grew its holdings in shares of Manhattan Associates by 22.3% during the fourth quarter. GW&K Investment Management LLC now owns 528,363 shares of the software maker’s stock worth $82,155,000 after buying an additional 96,288 shares in the last quarter. Hedge funds and other institutional investors own 96.76% of the company’s stock.

Manhattan Associates Price Performance

NASDAQ MANH opened at $140.16 on Tuesday. The stock has a market capitalization of $8.85 billion, a P/E ratio of 75.36 and a beta of 1.87. Manhattan Associates, Inc. has a 12 month low of $106.02 and a 12 month high of $188.52. The firm’s 50-day moving average is $119.58 and its two-hundred day moving average is $127.07.

Manhattan Associates (NASDAQ:MANHGet Rating) last released its earnings results on Tuesday, July 26th. The software maker reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.16. Manhattan Associates had a net margin of 16.67% and a return on equity of 51.87%. During the same quarter last year, the business earned $0.48 EPS. As a group, analysts anticipate that Manhattan Associates, Inc. will post 1.61 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Rosenblatt Securities dropped their target price on shares of Manhattan Associates from $165.00 to $150.00 and set a “buy” rating for the company in a report on Friday, July 22nd. Raymond James reissued a “maintains” rating on shares of Manhattan Associates in a report on Wednesday, July 27th. Finally, StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, July 28th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $181.00.

About Manhattan Associates

(Get Rating)

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Manhattan SCALE, a portfolio of logistics execution solutions that provide trading partner management, yard management, optimization, warehouse management, and transportation execution services; and Manhattan Active, a set of enterprise and store omni-channel solutions.

See Also

Institutional Ownership by Quarter for Manhattan Associates (NASDAQ:MANH)

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