Forsta AP Fonden reduces position in shares of Manhattan Associates, Inc. (NASDAQ:MANH)

VaselineSeptember 14, 2024

0 3 minutes read

Forsta AP Fonden reduced its stake in Manhattan Associates, Inc. (NASDAQ:MANH – Free Report) by 11.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,098 shares of the software maker’s stock after selling 4,500 shares during the quarter. Forsta AP Fonden’s holdings in Manhattan Associates were worth $8,411,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. CenterBook Partners LP purchased a new position in Manhattan Associates in the fourth quarter valued at approximately $761,000. Nomura Asset Management Co. Ltd. raised its holdings in shares of Manhattan Associates by 82.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 26,894 shares of the software maker’s stock valued at $5,791,000 after purchasing an additional 12,124 shares during the last quarter. Vinva Investment Management Ltd boosted its stake in Manhattan Associates by 69.5% in the fourth quarter. Vinva Investment Management Ltd now owns 39,571 shares of the software maker’s stock valued at $8,570,000 after buying an additional 16,229 shares during the period. Weiss Asset Management LP purchased a new stake in Manhattan Associates during the fourth quarter valued at $1,417,000. Finally, Boston Trust Walden Corp grew its position in Manhattan Associates by 3.3% during the second quarter. Boston Trust Walden Corp now owns 109,542 shares of the software maker’s stock valued at $27,022,000 after buying an additional 3,525 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s shares.

Insider trading at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total value of $1,539,000.00. Following the completion of the sale, the executive vice president now owns 46,287 shares in the company, valued at approximately $11,872,615.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. Insiders own 0.72% of the company’s shares.

Analyst upgrades and downgrades

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A number of research analysts have weighed in on the stock. Citigroup boosted their price objective on shares of Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Loop Capital upped their target price on Manhattan Associates from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. DA Davidson upped their target price on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average price target of $257.43, based on data from MarketBeat.

Check out our latest analysis of Manhattan Associates

Manhattan Associates trades down 0.1%

NASDAQ:MANH opened at $263.74 on Friday. The stock has a 50-day moving average of $250.03 and a two-hundred-day moving average of $239.88. Manhattan Associates, Inc. has a 12-month low of $182.97 and a 12-month high of $268.89. The firm has a market cap of $16.15 billion, a P/E ratio of 86.19 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH – Get Free Report ) last posted its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, topping the consensus estimate of $0.96 by $0.22. The firm had revenue of $265.30 million during the quarter, compared to analysts’ expectations of $255.83 million. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The company’s revenue for the quarter was up 14.8% year over year. In the same period last year, the company earned $0.63 per share. On average, research analysts estimate that Manhattan Associates, Inc. will post 3.01 earnings per share for the current year.

Profile of Manhattan Associates

(Free Report)

Manhattan Associates, Inc develops, sells, implements, services and maintains software solutions to manage supply chains, inventory and omnichannel operations. Provides warehouse management solution for managing goods and information in distribution centers; Manhattan Active Warehouse Management, a cloud-native application with no associate versions; and transportation management solution to help shippers navigate their way through requirements and meet customer service expectations at the lowest possible transportation costs; Manhattan SCALE, a portfolio of logistics execution solutions; and Manhattan Active Omni, which provides order management, in-store inventory and fulfillment, POS and customer engagement tools for businesses and stores.