Zurcher Kantonalbank Zurich Cantonalbank Sells 14,596 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Zurcher Kantonalbank Zurich Cantonalbank cut its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 55.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,669 shares of the software maker’s stock after selling 14,596 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Manhattan Associates were worth $3,283,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Innealta Capital LLC bought a new stake in Manhattan Associates during the 2nd quarter valued at $26,000. International Assets Investment Management LLC bought a new stake in Manhattan Associates during the 2nd quarter valued at $27,000. Capital Performance Advisors LLP bought a new stake in Manhattan Associates during the 3rd quarter valued at $34,000. Ashton Thomas Private Wealth LLC bought a new stake in Manhattan Associates during the 2nd quarter valued at $31,000. Finally, DT Investment Partners LLC bought a new stake in Manhattan Associates during the 2nd quarter valued at $31,000. 98.45% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value of $1,001,147.50. Following the completion of the transaction, the executive vice president now owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the transaction, the senior vice president now directly owns 22,086 shares of the company’s stock, valued at $6,398,976.78. The trade was a 15.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Manhattan Associates Stock Performance

Shares of MANH opened at $297.09 on Wednesday. The stock has a 50-day moving average of $282.57 and a two-hundred day moving average of $257.79. Manhattan Associates, Inc. has a one year low of $199.23 and a one year high of $307.50. The stock has a market cap of $18.15 billion, a P/E ratio of 84.40 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The company had revenue of $266.70 million during the quarter, compared to analysts’ expectations of $262.90 million. During the same quarter in the previous year, the firm posted $0.79 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. Analysts predict that Manhattan Associates, Inc. will post 3.39 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. 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 report on Monday, September 16th. Raymond James lifted their price target on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Citigroup lifted their price target on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Robert W. Baird lifted their price target on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, Truist Financial lifted their price target on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday, October 11th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $290.78.

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.