KBC Group NV Sells 60,067 Shares of Manhattan Associates, Inc. $MANH

KBC Group NV lessened its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 68.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,586 shares of the software maker’s stock after selling 60,067 shares during the period. KBC Group NV’s holdings in Manhattan Associates were worth $3,672,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Eagle Bay Advisors LLC purchased a new stake in Manhattan Associates in the 4th quarter worth about $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in Manhattan Associates by 448.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker’s stock valued at $28,000 after purchasing an additional 112 shares during the last quarter. BNP Paribas bought a new position in Manhattan Associates during the fourth quarter worth about $39,000. TD Private Client Wealth LLC boosted its position in Manhattan Associates by 83.8% during the fourth quarter. TD Private Client Wealth LLC now owns 239 shares of the software maker’s stock worth $41,000 after purchasing an additional 109 shares during the period. Finally, V Square Quantitative Management LLC purchased a new position in shares of Manhattan Associates in the fourth quarter worth about $44,000. Institutional investors own 98.45% of the company’s stock.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, CEO Eric Andrew Clark sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $146.77, for a total value of $146,770.00. Following the completion of the transaction, the chief executive officer owned 92,638 shares of the company’s stock, valued at $13,596,479.26. The trade was a 1.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.84% of the stock is currently owned by insiders.

Manhattan Associates Trading Up 2.9%

Shares of MANH opened at $151.67 on Friday. Manhattan Associates, Inc. has a 12-month low of $119.06 and a 12-month high of $229.57. The company has a market cap of $8.97 billion, a PE ratio of 42.48 and a beta of 0.97. The stock has a 50-day moving average price of $145.84 and a 200-day moving average price of $145.09.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, April 21st. The software maker reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.14. The company had revenue of $282.21 million for the quarter, compared to analysts’ expectations of $273.70 million. Manhattan Associates had a net margin of 19.68% and a return on equity of 78.13%. Manhattan Associates’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.19 earnings per share. As a group, analysts predict that Manhattan Associates, Inc. will post 3.77 earnings per share for the current year.

Analysts Set New Price Targets

MANH has been the subject of a number of recent research reports. Rothschild & Co Redburn set a $145.00 price objective on shares of Manhattan Associates in a research note on Thursday, April 16th. Citigroup raised their price objective on shares of Manhattan Associates from $177.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday. Robert W. Baird boosted their price objective on shares of Manhattan Associates from $183.00 to $186.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. DA Davidson reaffirmed a “buy” rating and set a $200.00 target price on shares of Manhattan Associates in a report on Wednesday, May 20th. Finally, Wall Street Zen cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and an average target price of $201.00.

About Manhattan Associates

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.