Harbor Investment Advisory LLC Lowers Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Harbor Investment Advisory LLC cut its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 16.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 350 shares of the software maker’s stock after selling 67 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Manhattan Associates were worth $95,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Oak Thistle LLC purchased a new stake in Manhattan Associates in the fourth quarter worth about $1,326,000. GAMMA Investing LLC lifted its stake in Manhattan Associates by 47.5% in the third quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker’s stock worth $334,000 after acquiring an additional 382 shares during the period. Mediolanum International Funds Ltd raised its holdings in Manhattan Associates by 602.0% in the third quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker’s stock worth $5,607,000 after purchasing an additional 17,187 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Manhattan Associates by 213.7% in the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after purchasing an additional 687,933 shares in the last quarter. Finally, Chartwell Investment Partners LLC raised its holdings in Manhattan Associates by 31.1% in the third quarter. Chartwell Investment Partners LLC now owns 21,557 shares of the software maker’s stock worth $6,065,000 after purchasing an additional 5,119 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Stock Down 0.0 %

MANH opened at $281.95 on Thursday. Manhattan Associates, Inc. has a 52-week low of $205.12 and a 52-week high of $312.60. The company has a market cap of $17.22 billion, a P/E ratio of 80.10 and a beta of 1.52. The firm’s 50-day moving average price is $281.91 and its 200-day moving average price is $270.80.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The company had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. During the same quarter in the prior year, the company earned $0.79 EPS. Manhattan Associates’s quarterly revenue was up 11.9% on a year-over-year basis. On average, research analysts anticipate that Manhattan Associates, Inc. will post 3.39 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total value of $1,001,147.50. Following the transaction, the executive vice president now owns 42,812 shares in the company, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Bruce Richards sold 4,150 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the transaction, the senior vice president now owns 22,086 shares in the company, valued at approximately $6,398,976.78. This trade represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on MANH shares. Citigroup boosted their target price on shares of Manhattan Associates from $287.00 to $306.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. DA Davidson boosted their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Piper Sandler started coverage on shares of Manhattan Associates in a report on Monday, November 25th. They issued an “overweight” rating and a $326.00 target price for the company. Robert W. Baird boosted their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, Raymond James boosted their target price on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average price target of $292.89.

Manhattan Associates Company 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.