Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 59.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,439 shares of the software maker’s stock after selling 12,203 shares during the period. Nisa Investment Advisors LLC’s holdings in Manhattan Associates were worth $2,082,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. International Assets Investment Management LLC acquired a new position in Manhattan Associates during the 4th quarter valued at about $5,100,000. Cerity Partners LLC purchased a new stake in shares of Manhattan Associates during the fourth quarter worth about $287,000. Vontobel Holding Ltd. acquired a new position in shares of Manhattan Associates during the fourth quarter valued at about $420,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Manhattan Associates by 33.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,581 shares of the software maker’s stock valued at $2,278,000 after purchasing an additional 2,637 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in Manhattan Associates by 27.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 5,083 shares of the software maker’s stock worth $1,094,000 after purchasing an additional 1,083 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Trading Up 1.6 %

Shares of MANH stock opened at $261.44 on Thursday. Manhattan Associates, Inc. has a twelve month low of $182.97 and a twelve month high of $266.94. The stock has a market cap of $16.10 billion, a P/E ratio of 85.51 and a beta of 1.50. The stock has a 50 day moving average of $242.76 and a 200 day moving average of $238.06.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.22. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The firm had revenue of $265.30 million during the quarter, compared to analyst estimates of $255.83 million. During the same period in the previous year, the firm earned $0.63 EPS. The business’s quarterly revenue was up 14.8% on a year-over-year basis. On average, research analysts predict that Manhattan Associates, Inc. will post 3.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MANH shares. Rosenblatt Securities restated a “neutral” rating and set a $225.00 price target on shares of Manhattan Associates in a research note on Wednesday, April 24th. William Blair reaffirmed a “market perform” rating on shares of Manhattan Associates in a research report on Wednesday, April 24th. DA Davidson increased their price objective on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Loop Capital lifted their target price on Manhattan Associates from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Citigroup increased their price target on shares of Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $257.43.

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the sale, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.72% of the stock is owned by corporate insiders.

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 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.