Manhattan Associates, Inc. $MANH Shares Sold by Kopp Family Office LLC

Kopp Family Office LLC decreased its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 45.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,879 shares of the software maker’s stock after selling 7,468 shares during the quarter. Manhattan Associates accounts for about 1.0% of Kopp Family Office LLC’s portfolio, making the stock its 13th largest holding. Kopp Family Office LLC’s holdings in Manhattan Associates were worth $1,764,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MANH. BlackRock Inc. bought a new stake in Manhattan Associates in the 2nd quarter valued at about $944,285,000. Swedbank AB increased its holdings in shares of Manhattan Associates by 25.0% during the first quarter. Swedbank AB now owns 1,500,000 shares of the software maker’s stock worth $199,680,000 after purchasing an additional 300,000 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Manhattan Associates in the second quarter valued at approximately $94,049,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Manhattan Associates by 2.0% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,608 shares of the software maker’s stock valued at $89,671,000 after buying an additional 13,128 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Manhattan Associates by 6.2% in the first quarter. Bessemer Group Inc. now owns 670,427 shares of the software maker’s stock valued at $89,247,000 after buying an additional 39,125 shares during the period. Institutional investors own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Barclays increased their price target on Manhattan Associates from $201.00 to $239.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 8th. Weiss Ratings raised Manhattan Associates from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 2nd. Citigroup increased their target price on Manhattan Associates from $203.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday. Stifel Nicolaus raised their target price on shares of Manhattan Associates from $225.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 14th. Finally, UBS Group restated a “buy” rating on shares of Manhattan Associates in a research report on Wednesday, October 14th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Manhattan Associates has an average rating of “Moderate Buy” and an average price target of $229.33.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $235.83 on Thursday. The stock’s fifty day moving average price is $211.48 and its two-hundred day moving average price is $170.59. The company has a market cap of $13.75 billion, a PE ratio of 67.57 and a beta of 0.95. Manhattan Associates, Inc. has a fifty-two week low of $119.06 and a fifty-two week high of $236.62.

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

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, 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 transaction, the executive vice president owned 55,676 shares of the company’s stock, valued at approximately $10,886,328.28. The trade was a 8.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric Clark sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total value of $593,280.00. Following the transaction, the chief executive officer directly owned 89,638 shares of the company’s stock, valued at approximately $17,726,810.88. The trade was a 3.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.84% of the company’s stock.

About Manhattan Associates

Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.

The company’s product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.

Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.