BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Trims Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 12.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,272 shares of the software maker’s stock after selling 1,519 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Manhattan Associates were worth $2,890,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MANH. Fidelis Capital Partners LLC lifted its stake in shares of Manhattan Associates by 3.2% during the 3rd quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock worth $347,000 after purchasing an additional 40 shares during the period. UMB Bank n.a. increased its stake in Manhattan Associates by 16.7% in the third quarter. UMB Bank n.a. now owns 301 shares of the software maker’s stock valued at $85,000 after purchasing an additional 43 shares during the last quarter. SkyView Investment Advisors LLC lifted its position in Manhattan Associates by 0.9% during the second quarter. SkyView Investment Advisors LLC now owns 5,018 shares of the software maker’s stock worth $1,238,000 after buying an additional 46 shares during the period. Huntington National Bank boosted its stake in Manhattan Associates by 5.9% in the 3rd quarter. Huntington National Bank now owns 879 shares of the software maker’s stock worth $247,000 after buying an additional 49 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in Manhattan Associates by 3.3% in the 3rd quarter. CIBC Asset Management Inc now owns 1,798 shares of the software maker’s stock valued at $506,000 after buying an additional 58 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MANH. Loop Capital increased their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Truist Financial lifted their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday, October 11th. Piper Sandler began coverage on Manhattan Associates in a report on Monday, November 25th. They set an “overweight” rating and a $326.00 price objective for the company. DA Davidson lifted their target price on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Raymond James upped their price target on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Manhattan Associates has an average rating of “Moderate Buy” and a consensus price target of $290.78.

Insider Transactions at Manhattan Associates

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

Manhattan Associates Stock Performance

MANH stock opened at $303.33 on Thursday. The stock has a 50-day simple moving average of $282.79 and a 200-day simple moving average of $258.27. The firm has a market cap of $18.53 billion, a P/E ratio of 86.17 and a beta of 1.50. Manhattan Associates, Inc. has a 1 year low of $199.23 and a 1 year high of $307.50.

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

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.