Chesley Taft & Associates LLC Trims Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Chesley Taft & Associates LLC lessened its holdings in Manhattan Associates, Inc. (NASDAQ:MANHFree Report) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,913 shares of the software maker’s stock after selling 70 shares during the period. Chesley Taft & Associates LLC’s holdings in Manhattan Associates were worth $412,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Eagle Bay Advisors LLC purchased a new position in Manhattan Associates during the second quarter worth approximately $36,000. Compass Wealth Management LLC purchased a new position in Manhattan Associates during the fourth quarter worth approximately $42,000. ST Germain D J Co. Inc. purchased a new position in Manhattan Associates during the second quarter worth approximately $44,000. UMB Bank n.a. increased its position in shares of Manhattan Associates by 474.4% in the third quarter. UMB Bank n.a. now owns 224 shares of the software maker’s stock worth $44,000 after acquiring an additional 185 shares in the last quarter. Finally, First Capital Advisors Group LLC. acquired a new stake in shares of Manhattan Associates in the second quarter worth $65,000. Hedge funds and other institutional investors own 97.85% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on MANH. Truist Financial increased their price objective on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Raymond James raised their price target on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. StockNews.com raised shares of Manhattan Associates from a “hold” rating to a “buy” rating in a report on Friday, December 15th. Rosenblatt Securities raised their price target on shares of Manhattan Associates from $215.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, January 31st. Finally, Citigroup started coverage on shares of Manhattan Associates in a report on Wednesday, March 13th. They set a “neutral” rating and a $260.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $231.29.

Get Our Latest Stock Analysis on Manhattan Associates

Insiders Place Their Bets

In other news, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total value of $2,699,513.81. Following the transaction, the chief executive officer now directly owns 242,153 shares in the company, valued at approximately $59,988,562.69. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total value of $169,211.20. Following the transaction, the executive vice president now directly owns 57,093 shares in the company, valued at approximately $14,207,022.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the completion of the transaction, the chief executive officer now owns 242,153 shares in the company, valued at $59,988,562.69. The disclosure for this sale can be found here. 0.85% of the stock is owned by company insiders.

Manhattan Associates Price Performance

Shares of MANH stock opened at $252.92 on Friday. The firm has a market cap of $15.57 billion, a P/E ratio of 89.69 and a beta of 1.44. Manhattan Associates, Inc. has a 1-year low of $143.95 and a 1-year high of $266.94. The firm has a fifty day moving average of $241.97 and a two-hundred day moving average of $220.14.

Manhattan Associates (NASDAQ:MANHGet Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.23. The company had revenue of $238.26 million during the quarter, compared to analyst estimates of $223.99 million. Manhattan Associates had a net margin of 19.01% and a return on equity of 84.08%. On average, sell-side analysts expect that Manhattan Associates, Inc. will post 2.78 EPS for the current year.

Manhattan Associates Profile

(Free Report)

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.

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

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