Robeco Institutional Asset Management B.V. Sells 20,964 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Robeco Institutional Asset Management B.V. cut its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 24.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,764 shares of the software maker’s stock after selling 20,964 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.11% of Manhattan Associates worth $136,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of Manhattan Associates by 42.3% in the third quarter. Royal Bank of Canada now owns 241,427 shares of the software maker’s stock worth $47,720,000 after buying an additional 71,725 shares during the period. Swiss National Bank raised its stake in shares of Manhattan Associates by 48.0% during the third quarter. Swiss National Bank now owns 199,820 shares of the software maker’s stock valued at $39,496,000 after acquiring an additional 64,800 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Manhattan Associates by 1,467.0% during the fourth quarter. Nordea Investment Management AB now owns 66,176 shares of the software maker’s stock worth $14,265,000 after purchasing an additional 61,953 shares during the period. Northern Trust Corp grew its stake in shares of Manhattan Associates by 10.5% in the third quarter. Northern Trust Corp now owns 645,187 shares of the software maker’s stock worth $127,528,000 after purchasing an additional 61,437 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in Manhattan Associates during the 3rd quarter valued at about $11,914,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MANH shares. Truist Financial increased their price objective on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Raymond James boosted their price objective on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. William Blair reaffirmed a “market perform” rating on shares of Manhattan Associates in a research report on Wednesday, April 24th. Redburn Atlantic initiated coverage on shares of Manhattan Associates in a research report on Tuesday, May 14th. They set a “buy” rating and a $260.00 price target on the stock. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $225.00 price objective on shares of Manhattan Associates in a report on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Manhattan Associates currently has a consensus rating of “Moderate Buy” and a consensus target price of $240.50.

Manhattan Associates Stock Performance

Shares of MANH opened at $228.13 on Friday. Manhattan Associates, Inc. has a fifty-two week low of $175.39 and a fifty-two week high of $266.94. The firm’s 50-day simple moving average is $230.20 and its two-hundred day simple moving average is $229.64. The stock has a market cap of $14.05 billion, a PE ratio of 74.55 and a beta of 1.45.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, April 23rd. The software maker reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.23. The company had revenue of $254.55 million for the quarter, compared to the consensus estimate of $243.32 million. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. Equities research analysts predict that Manhattan Associates, Inc. will post 2.72 EPS for the current year.

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.