Comerica Bank Sells 1,300 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Comerica Bank lowered its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 3.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,241 shares of the software maker’s stock after selling 1,300 shares during the quarter. Comerica Bank owned approximately 0.06% of Manhattan Associates worth $8,568,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. SkyView Investment Advisors LLC grew its position in Manhattan Associates by 3.0% during the first quarter. SkyView Investment Advisors LLC now owns 4,972 shares of the software maker’s stock valued at $1,244,000 after buying an additional 146 shares during the period. Motley Fool Asset Management LLC lifted its holdings in Manhattan Associates by 21.0% during the first quarter. Motley Fool Asset Management LLC now owns 1,182 shares of the software maker’s stock valued at $296,000 after purchasing an additional 205 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in Manhattan Associates by 36.9% during the first quarter. B. Riley Wealth Advisors Inc. now owns 4,368 shares of the software maker’s stock valued at $1,093,000 after purchasing an additional 1,177 shares during the last quarter. Virtus Investment Advisers Inc. lifted its holdings in Manhattan Associates by 11.4% during the first quarter. Virtus Investment Advisers Inc. now owns 3,919 shares of the software maker’s stock valued at $981,000 after purchasing an additional 400 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Manhattan Associates by 11.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 56,580 shares of the software maker’s stock valued at $14,158,000 after purchasing an additional 6,018 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on MANH shares. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday. Redburn Atlantic began coverage on shares of Manhattan Associates in a report on Tuesday, May 14th. They set a “buy” rating and a $260.00 price objective on the stock. William Blair reissued a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Citigroup increased their price target on shares of Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. Finally, Loop Capital increased their price target on shares of Manhattan Associates from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $257.43.

Insiders Place Their Bets

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the transaction, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at $11,872,615.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.72% of the company’s stock.

Manhattan Associates Stock Down 3.4 %

Shares of MANH stock traded down $8.49 during trading on Friday, hitting $242.17. The company had a trading volume of 97,555 shares, compared to its average volume of 425,485. The stock’s 50-day moving average is $235.08 and its two-hundred day moving average is $235.66. The stock has a market capitalization of $14.83 billion, a price-to-earnings ratio of 78.76 and a beta of 1.50. Manhattan Associates, Inc. has a 52 week low of $182.97 and a 52 week high of $266.94.

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

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.