Manhattan Associates, Inc. (NASDAQ:MANH) Stock Position Lessened by Pitcairn Co.

Pitcairn Co. trimmed its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 47.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,954 shares of the software maker’s stock after selling 3,602 shares during the period. Pitcairn Co.’s holdings in Manhattan Associates were worth $1,113,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Innealta Capital LLC bought a new position in Manhattan Associates during the 2nd quarter valued at $26,000. International Assets Investment Management LLC acquired a new position in Manhattan Associates during the second quarter worth about $27,000. DT Investment Partners LLC acquired a new position in Manhattan Associates during the second quarter worth about $31,000. Ashton Thomas Private Wealth LLC bought a new stake in Manhattan Associates in the second quarter worth about $31,000. Finally, Capital Performance Advisors LLP acquired a new stake in Manhattan Associates in the 3rd quarter valued at about $34,000. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Stock Performance

MANH stock opened at $280.40 on Monday. The firm has a 50 day simple moving average of $280.92 and a 200 day simple moving average of $254.89. Manhattan Associates, Inc. has a 52 week low of $199.23 and a 52 week high of $307.50. The stock has a market cap of $17.13 billion, a P/E ratio of 79.66 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating the consensus estimate of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The business had revenue of $266.70 million for the quarter, compared to analysts’ expectations of $262.90 million. During the same period in the previous year, the company posted $0.79 EPS. Manhattan Associates’s revenue was up 11.9% on a year-over-year basis. Sell-side analysts predict that Manhattan Associates, Inc. will post 3.4 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the stock. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Robert W. Baird raised their price objective on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Truist Financial upped their target price on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday, October 11th. Loop Capital lifted their price target on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, Citigroup upped their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $286.38.

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.