Mirae Asset Global Investments Co. Ltd. Has $2.30 Million Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Mirae Asset Global Investments Co. Ltd. reduced its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 15.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,694 shares of the software maker’s stock after selling 1,990 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Manhattan Associates were worth $2,303,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in shares of Manhattan Associates by 13.5% during the 1st quarter. BlackRock Inc. now owns 7,461,771 shares of the software maker’s stock worth $1,155,455,000 after buying an additional 888,755 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Manhattan Associates by 3.6% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,738,298 shares of the software maker’s stock worth $424,025,000 after acquiring an additional 95,122 shares during the last quarter. State Street Corp boosted its stake in shares of Manhattan Associates by 2.1% in the 1st quarter. State Street Corp now owns 1,739,702 shares of the software maker’s stock valued at $269,393,000 after purchasing an additional 35,505 shares in the last quarter. FMR LLC boosted its stake in shares of Manhattan Associates by 2.1% in the 3rd quarter. FMR LLC now owns 1,628,850 shares of the software maker’s stock valued at $321,958,000 after purchasing an additional 33,549 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of Manhattan Associates by 0.9% during the 3rd quarter. Morgan Stanley now owns 1,522,444 shares of the software maker’s stock valued at $300,927,000 after purchasing an additional 13,303 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Trading Up 0.9 %

Shares of MANH opened at $230.44 on Friday. The stock’s 50-day moving average price is $247.10 and its two-hundred day moving average price is $226.09. Manhattan Associates, Inc. has a 12 month low of $152.32 and a 12 month high of $266.94. The company has a market capitalization of $14.19 billion, a PE ratio of 81.72 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.23. The company had revenue of $238.26 million for the quarter, compared to analyst estimates of $223.99 million. Manhattan Associates had a return on equity of 84.08% and a net margin of 19.01%. Equities research analysts predict that Manhattan Associates, Inc. will post 2.78 EPS for the current fiscal year.

Insider Activity

In related news, CEO Eddie Capel sold 10,897 shares of Manhattan Associates stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the completion of the transaction, the chief executive officer now owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Manhattan Associates news, EVP James Stewart Gantt sold 680 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total value of $169,211.20. Following the completion of the sale, the executive vice president now directly owns 57,093 shares in the company, valued at $14,207,022.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eddie Capel sold 10,897 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total value of $2,699,513.81. Following the transaction, the chief executive officer now owns 242,153 shares in the company, valued at $59,988,562.69. The disclosure for this sale can be found here. Insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on MANH. Rosenblatt Securities reissued a “neutral” rating and issued a $225.00 price objective on shares of Manhattan Associates in a research note on Monday. Raymond James raised their price objective on Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Citigroup started coverage on Manhattan Associates in a report on Wednesday, March 13th. They issued a “neutral” rating and a $260.00 target price for the company. Finally, Truist Financial boosted their price target on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Manhattan Associates presently has an average rating of “Moderate Buy” and an average price target of $231.29.

About Manhattan Associates

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.