Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC reduced its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 8.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,828 shares of the software maker’s stock after selling 158 shares during the period. Apollon Wealth Management LLC’s holdings in Manhattan Associates were worth $514,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MANH. Innealta Capital LLC acquired a new stake in shares of Manhattan Associates in the second quarter valued at about $26,000. International Assets Investment Management LLC acquired a new stake in Manhattan Associates in the second quarter valued at approximately $27,000. DT Investment Partners LLC acquired a new stake in Manhattan Associates in the second quarter valued at approximately $31,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Manhattan Associates during the second quarter valued at approximately $31,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Manhattan Associates during the third quarter worth $34,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MANH shares. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Raymond James boosted their price target on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Citigroup raised their price objective on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. DA Davidson upped their target price on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Truist Financial raised their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $286.38.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $272.62 on Friday. Manhattan Associates, Inc. has a 12 month low of $199.23 and a 12 month high of $307.50. The company has a fifty day moving average price of $279.80 and a two-hundred day moving average price of $252.45. The company has a market cap of $16.65 billion, a PE ratio of 77.45 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. The business had revenue of $266.70 million during the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 EPS. Equities research analysts anticipate that Manhattan Associates, Inc. will post 3.4 earnings per share for the current year.

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.