Manhattan Associates, Inc. $MANH Stock Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. cut its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 61.7% in the 3rd quarter, Holdings Channel reports. The firm owned 4,704 shares of the software maker’s stock after selling 7,583 shares during the period. First Citizens Bank & Trust Co.’s holdings in Manhattan Associates were worth $935,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP lifted its position in Manhattan Associates by 3.1% during the 2nd quarter. Allworth Financial LP now owns 2,587 shares of the software maker’s stock valued at $360,000 after acquiring an additional 77 shares during the period. V Square Quantitative Management LLC raised its holdings in Manhattan Associates by 35.9% in the first quarter. V Square Quantitative Management LLC now owns 348 shares of the software maker’s stock worth $46,000 after buying an additional 92 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its stake in shares of Manhattan Associates by 7.4% in the third quarter. NorthCrest Asset Manangement LLC now owns 1,772 shares of the software maker’s stock worth $366,000 after buying an additional 122 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Manhattan Associates by 1.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 12,202 shares of the software maker’s stock valued at $1,624,000 after buying an additional 158 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Manhattan Associates by 21.6% during the first quarter. Parallel Advisors LLC now owns 907 shares of the software maker’s stock valued at $121,000 after buying an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Down 2.1%

NASDAQ MANH opened at $222.17 on Friday. Manhattan Associates, Inc. has a twelve month low of $119.06 and a twelve month high of $231.63. The business has a 50-day moving average price of $209.27 and a 200-day moving average price of $168.26. The firm has a market cap of $12.95 billion, a price-to-earnings ratio of 63.66 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.07. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%. The firm had revenue of $297.79 million during the quarter, compared to analyst estimates of $289.03 million. During the same quarter last year, the business posted $1.31 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Research analysts expect that Manhattan Associates, Inc. will post 3.87 EPS for the current fiscal year.

Insider Buying and Selling at Manhattan Associates

In other news, CEO Eric Clark sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total value of $593,280.00. Following the sale, the chief executive officer directly owned 89,638 shares in the company, valued at $17,726,810.88. The trade was a 3.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP James Gantt sold 5,139 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the completion of the sale, the executive vice president owned 55,676 shares in the company, valued at approximately $10,886,328.28. This trade represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.84% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Morgan Stanley raised shares of Manhattan Associates from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $180.00 to $250.00 in a research report on Monday. Stifel Nicolaus raised their target price on shares of Manhattan Associates from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays lifted their target price on shares of Manhattan Associates from $201.00 to $239.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 8th. Wall Street Zen lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, UBS Group restated a “buy” rating on shares of Manhattan Associates in a research note on Wednesday. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $223.70.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops cloud-based software designed to help businesses manage supply chains, inventory, warehouse operations, transportation, and omnichannel commerce. Its solutions are used by retailers, wholesalers, manufacturers, distributors, logistics providers, and other organizations seeking to coordinate products, orders, labor, and fulfillment activities.

The company’s product portfolio includes Manhattan Active Warehouse Management, Manhattan Active Transportation Management, Manhattan Active Order Management, and related tools for inventory optimization, workforce management, customer engagement, and point-of-sale operations.