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

Elite Wealth Management Inc. lowered its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 0.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 12,582 shares of the software maker’s stock after selling 109 shares during the quarter. Manhattan Associates accounts for about 0.2% of Elite Wealth Management Inc.’s portfolio, making the stock its 21st biggest holding. Elite Wealth Management Inc.’s holdings in Manhattan Associates were worth $2,709,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in MANH. Morgan Stanley grew its stake in Manhattan Associates by 302.2% in the 4th quarter. Morgan Stanley now owns 1,361,946 shares of the software maker’s stock valued at $165,340,000 after acquiring an additional 1,023,285 shares during the period. BlackRock Inc. grew its stake in Manhattan Associates by 13.5% in the 1st quarter. BlackRock Inc. now owns 7,461,771 shares of the software maker’s stock valued at $1,155,455,000 after acquiring an additional 888,755 shares during the period. Norges Bank acquired a new stake in Manhattan Associates in the 4th quarter valued at $81,289,000. California Public Employees Retirement System grew its stake in Manhattan Associates by 184.3% in the 3rd quarter. California Public Employees Retirement System now owns 352,665 shares of the software maker’s stock valued at $69,708,000 after acquiring an additional 228,618 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Manhattan Associates by 37.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 819,305 shares of the software maker’s stock worth $93,892,000 after purchasing an additional 225,136 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH traded down $1.08 during trading on Wednesday, hitting $230.08. 60,460 shares of the company were exchanged, compared to its average volume of 361,065. Manhattan Associates, Inc. has a 12-month low of $152.32 and a 12-month high of $266.94. The company has a fifty day moving average price of $247.78 and a 200-day moving average price of $226.05. The firm has a market capitalization of $14.17 billion, a PE ratio of 81.97 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.23. The firm had revenue of $238.26 million for the quarter, compared to analyst estimates of $223.99 million. Manhattan Associates had a net margin of 19.01% and a return on equity of 84.08%. Research analysts anticipate that Manhattan Associates, Inc. will post 2.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

MANH has been the topic of several recent research reports. Rosenblatt Securities reaffirmed a “neutral” rating and set a $225.00 target price on shares of Manhattan Associates in a research note on Monday. Truist Financial lifted their target price on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Citigroup initiated coverage on shares of Manhattan Associates in a research note on Wednesday, March 13th. They set a “neutral” rating and a $260.00 target price on the stock. Finally, Raymond James lifted their target price on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Manhattan Associates presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.29.

Insider Activity at Manhattan Associates

In related news, EVP James Stewart Gantt sold 680 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total value of $169,211.20. Following the sale, the executive vice president now directly owns 57,093 shares in the company, valued at approximately $14,207,022.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the sale, the chief executive officer now directly owns 242,153 shares in the company, valued at $59,988,562.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Stewart Gantt sold 680 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total transaction of $169,211.20. Following the sale, the executive vice president now owns 57,093 shares in the company, valued at $14,207,022.12. The disclosure for this sale can be found here. 0.85% of the stock is owned by insiders.

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.