Brown Capital Management LLC Decreases Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Brown Capital Management LLC lessened its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 15.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,094,098 shares of the software maker’s stock after selling 378,233 shares during the quarter. Manhattan Associates makes up 4.8% of Brown Capital Management LLC’s holdings, making the stock its 3rd biggest holding. Brown Capital Management LLC owned approximately 3.38% of Manhattan Associates worth $324,271,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MANH. ST Germain D J Co. Inc. bought a new stake in shares of Manhattan Associates in the fourth quarter worth $27,000. Belpointe Asset Management LLC bought a new stake in shares of Manhattan Associates in the fourth quarter worth $32,000. Eagle Bay Advisors LLC bought a new stake in shares of Manhattan Associates in the second quarter worth $36,000. Compass Wealth Management LLC bought a new stake in shares of Manhattan Associates in the fourth quarter worth $42,000. Finally, Harvest Fund Management Co. Ltd grew its stake in shares of Manhattan Associates by 193.9% in the first 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 last quarter. Institutional investors own 97.85% of the company’s stock.

Insider Transactions at Manhattan Associates

In other news, Director Linda T. Hollembaek sold 1,800 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $190.00, for a total transaction of $342,000.00. Following the transaction, the director now owns 11,747 shares of the company’s stock, valued at approximately $2,231,930. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John J. Huntz, Jr. sold 11,815 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $202.95, for a total value of $2,397,854.25. Following the transaction, the director now owns 53,096 shares of the company’s stock, valued at approximately $10,775,833.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Linda T. Hollembaek sold 1,800 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $190.00, for a total transaction of $342,000.00. Following the completion of the transaction, the director now directly owns 11,747 shares in the company, valued at approximately $2,231,930. The disclosure for this sale can be found here. Insiders have sold 17,679 shares of company stock valued at $3,536,864 in the last 90 days. 0.85% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MANH has been the topic of several analyst reports. Robert W. Baird boosted their price objective on shares of Manhattan Associates from $184.00 to $219.00 in a research note on Tuesday, July 18th. Rosenblatt Securities boosted their price objective on shares of Manhattan Associates from $160.00 to $196.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 26th. Loop Capital upped their price target on shares of Manhattan Associates from $190.00 to $205.00 in a research report on Wednesday, May 24th. Truist Financial upped their price target on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. Finally, Raymond James upped their price target on shares of Manhattan Associates from $165.00 to $214.00 and gave the company an “outperform” 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $206.50.

Manhattan Associates Trading Down 0.0 %

Shares of MANH opened at $200.48 on Friday. The firm’s fifty day simple moving average is $194.32 and its two-hundred day simple moving average is $175.30. Manhattan Associates, Inc. has a 12 month low of $107.18 and a 12 month high of $208.31. The stock has a market capitalization of $12.36 billion, a P/E ratio of 86.41 and a beta of 1.54.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $216.43 million. Manhattan Associates had a net margin of 17.21% and a return on equity of 75.18%. As a group, research analysts predict that Manhattan Associates, Inc. will post 2.17 EPS for the current fiscal 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.