Private Trust Co. NA Sells 54 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Private Trust Co. NA decreased its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 14.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 329 shares of the software maker’s stock after selling 54 shares during the period. Private Trust Co. NA’s holdings in Manhattan Associates were worth $93,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Innealta Capital LLC purchased a new position in Manhattan Associates during the second quarter valued at $26,000. International Assets Investment Management LLC purchased a new position in shares of Manhattan Associates during the 2nd quarter valued at about $27,000. Capital Performance Advisors LLP bought a new position in shares of Manhattan Associates during the 3rd quarter valued at approximately $34,000. Ashton Thomas Private Wealth LLC purchased a new stake in Manhattan Associates in the 2nd quarter worth approximately $31,000. Finally, DT Investment Partners LLC bought a new stake in Manhattan Associates during the 2nd quarter worth approximately $31,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Stock Performance

Shares of MANH opened at $285.44 on Friday. The stock has a market capitalization of $17.43 billion, a PE ratio of 81.09 and a beta of 1.52. The company’s fifty day moving average is $282.27 and its 200 day moving average is $256.35. Manhattan Associates, Inc. has a fifty-two week low of $199.23 and a fifty-two week high of $307.50.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share 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 firm had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. During the same period in the previous year, the firm posted $0.79 EPS. The business’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, research analysts forecast that Manhattan Associates, Inc. will post 3.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MANH shares. DA Davidson increased their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Robert W. Baird increased their price target on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Piper Sandler started coverage on Manhattan Associates in a research report on Monday, November 25th. They issued an “overweight” rating and a $326.00 price objective on the stock. Citigroup upped their price objective on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Finally, Loop Capital lifted their target price on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average price target of $290.78.

Insider Transactions 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 shares were sold at an average price of $288.10, for a total value of $1,001,147.50. Following the completion of the sale, the executive vice president now owns 42,812 shares in the company, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.72% of the company’s stock.

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.