Panagora Asset Management Inc. Trims Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Panagora Asset Management Inc. lowered its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 64.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,507 shares of the software maker’s stock after selling 73,270 shares during the quarter. Panagora Asset Management Inc.’s holdings in Manhattan Associates were worth $6,273,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. ST Germain D J Co. Inc. purchased a new stake in Manhattan Associates in the 4th quarter worth $27,000. Belpointe Asset Management LLC purchased a new stake in shares of Manhattan Associates during the fourth quarter worth about $32,000. Eagle Bay Advisors LLC bought a new stake in Manhattan Associates during the 2nd quarter valued at approximately $36,000. Compass Wealth Management LLC purchased a new position in Manhattan Associates in the 4th quarter worth approximately $42,000. Finally, Harvest Fund Management Co. Ltd boosted its stake in Manhattan Associates by 193.9% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 479 shares of the software maker’s stock worth $74,000 after purchasing an additional 316 shares during the period. 97.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Loop Capital boosted their target price on shares of Manhattan Associates from $190.00 to $205.00 in a report on Wednesday, May 24th. Robert W. Baird boosted their price target on shares of Manhattan Associates from $184.00 to $219.00 in a research note on Tuesday, July 18th. Truist Financial increased their price target on Manhattan Associates from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. Raymond James lifted their price objective on Manhattan Associates from $165.00 to $214.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 26th. Finally, Rosenblatt Securities increased their target price on Manhattan Associates from $160.00 to $196.00 and gave the company a “neutral” rating in a research report on Wednesday, July 26th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.50.

Insider Transactions at Manhattan Associates

In related news, Director John J. Huntz, Jr. sold 11,815 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $202.95, for a total transaction of $2,397,854.25. Following the transaction, the director now directly owns 53,096 shares in the company, valued at approximately $10,775,833.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Manhattan Associates news, Director John J. Huntz, Jr. sold 11,815 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $202.95, for a total value of $2,397,854.25. Following the sale, the director now owns 53,096 shares in the company, valued at $10,775,833.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Edmond Eger sold 1,885 shares of Manhattan Associates stock in a transaction on Monday, June 12th. The stock was sold at an average price of $189.45, for a total value of $357,113.25. Following the sale, the director now owns 12,385 shares of the company’s stock, valued at $2,346,338.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,500 shares of company stock worth $3,096,968. 0.85% of the stock is currently owned by insiders.

Manhattan Associates Price Performance

Shares of MANH stock opened at $201.20 on Friday. The company has a market cap of $12.41 billion, a PE ratio of 86.72 and a beta of 1.57. Manhattan Associates, Inc. has a 1 year low of $107.18 and a 1 year high of $208.31. The stock’s 50 day simple moving average is $193.25 and its two-hundred day simple moving average is $172.79.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, July 25th. The software maker reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.13. The company had revenue of $231.02 million during the quarter, compared to the consensus estimate of $216.43 million. Manhattan Associates had a return on equity of 75.18% and a net margin of 17.21%. Equities research analysts expect that Manhattan Associates, Inc. will post 2.17 EPS for the current year.

Manhattan Associates Profile

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 omnichannel solution, which include enterprise solutions and omnichannel solutions for store.