Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC lessened its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 12.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,684 shares of the software maker’s stock after selling 229 shares during the period. Chesley Taft & Associates LLC’s holdings in Manhattan Associates were worth $421,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Janiczek Wealth Management LLC boosted its position in Manhattan Associates by 4.6% during the 1st quarter. Janiczek Wealth Management LLC now owns 1,492 shares of the software maker’s stock worth $373,000 after acquiring an additional 65 shares during the period. DGS Capital Management LLC raised its stake in shares of Manhattan Associates by 13.4% during the first quarter. DGS Capital Management LLC now owns 7,412 shares of the software maker’s stock valued at $1,855,000 after purchasing an additional 877 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in Manhattan Associates by 57.1% in the first quarter. Sunbelt Securities Inc. now owns 779 shares of the software maker’s stock worth $195,000 after purchasing an additional 283 shares during the period. FCF Advisors LLC grew its position in Manhattan Associates by 5.6% in the 1st quarter. FCF Advisors LLC now owns 9,346 shares of the software maker’s stock valued at $2,339,000 after buying an additional 494 shares in the last quarter. Finally, Contravisory Investment Management Inc. bought a new position in Manhattan Associates in the 1st quarter valued at about $31,000. 98.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MANH. Redburn Atlantic started coverage on Manhattan Associates in a research report on Tuesday, May 14th. They set a “buy” rating and a $260.00 price target on the stock. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, May 27th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $225.00 price objective on shares of Manhattan Associates in a research note on Wednesday, April 24th. William Blair reissued a “market perform” rating on shares of Manhattan Associates in a research note on Wednesday, April 24th. Finally, Citigroup decreased their price target on shares of Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Manhattan Associates has an average rating of “Moderate Buy” and an average price target of $240.50.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH traded up $9.42 during trading hours on Thursday, hitting $251.21. The stock had a trading volume of 575,469 shares, compared to its average volume of 400,115. The company has a market capitalization of $15.47 billion, a P/E ratio of 79.02 and a beta of 1.48. The firm’s 50-day moving average price is $222.90 and its two-hundred day moving average price is $230.67. Manhattan Associates, Inc. has a 52 week low of $182.97 and a 52 week high of $266.94.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, April 23rd. The software maker reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.23. The business had revenue of $254.55 million during the quarter, compared to analyst estimates of $243.32 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. As a group, analysts expect that Manhattan Associates, Inc. will post 2.72 EPS for the current fiscal 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.