Manhattan Associates, Inc. (NASDAQ:MANH) Position Cut by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec lowered its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 32.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,498 shares of the software maker’s stock after selling 74,374 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.25% of Manhattan Associates worth $42,910,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new position in shares of Manhattan Associates in the second quarter valued at approximately $26,000. International Assets Investment Management LLC bought a new stake in shares of Manhattan Associates in the 2nd quarter worth $27,000. Capital Performance Advisors LLP acquired a new stake in shares of Manhattan Associates in the third quarter valued at $34,000. Ashton Thomas Private Wealth LLC bought a new position in Manhattan Associates during the second quarter valued at about $31,000. Finally, DT Investment Partners LLC acquired a new position in Manhattan Associates during the second quarter worth about $31,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on MANH. Raymond James raised their price objective on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Truist Financial increased their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Piper Sandler initiated coverage on Manhattan Associates in a report on Monday, November 25th. They issued an “overweight” rating and a $326.00 price target on the stock. Robert W. Baird lifted their target price on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, Loop Capital boosted their target price on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $290.78.

Manhattan Associates Trading Down 0.8 %

Shares of Manhattan Associates stock opened at $285.44 on Monday. Manhattan Associates, Inc. has a 1 year low of $199.23 and a 1 year high of $307.50. The company has a market cap of $17.43 billion, a P/E ratio of 81.09 and a beta of 1.52. The stock has a 50-day moving average price of $282.46 and a 200 day moving average price of $257.13.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $262.90 million. During the same period in the prior year, the firm earned $0.79 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year. On average, equities analysts forecast that Manhattan Associates, Inc. will post 3.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the sale, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at $12,334,137.20. This trade represents a 7.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

Manhattan Associates Profile

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.