Hsbc Holdings PLC Trims Stock Position in Manhattan Associates, Inc. $MANH

Hsbc Holdings PLC lessened its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 55.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,592 shares of the software maker’s stock after selling 44,087 shares during the quarter. Hsbc Holdings PLC owned about 0.06% of Manhattan Associates worth $4,742,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its position in Manhattan Associates by 3.3% during the 2nd quarter. NewEdge Advisors LLC now owns 1,852 shares of the software maker’s stock worth $366,000 after acquiring an additional 59 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Manhattan Associates by 2.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,708 shares of the software maker’s stock valued at $555,000 after purchasing an additional 69 shares during the last quarter. Covestor Ltd increased its holdings in shares of Manhattan Associates by 12.2% in the fourth quarter. Covestor Ltd now owns 670 shares of the software maker’s stock valued at $116,000 after purchasing an additional 73 shares during the period. Verdence Capital Advisors LLC raised its stake in shares of Manhattan Associates by 3.4% during the fourth quarter. Verdence Capital Advisors LLC now owns 2,322 shares of the software maker’s stock worth $402,000 after purchasing an additional 76 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of Manhattan Associates by 1.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 6,369 shares of the software maker’s stock worth $1,104,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Wall Street Zen cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Stifel Nicolaus set a $200.00 target price on shares of Manhattan Associates in a research note on Wednesday, May 20th. Barclays lowered their target price on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Rothschild & Co Redburn set a $145.00 price target on shares of Manhattan Associates in a research note on Thursday, April 16th. Finally, Robert W. Baird increased their price target on shares of Manhattan Associates from $183.00 to $186.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $201.00.

Manhattan Associates Price Performance

Shares of MANH opened at $151.67 on Friday. The firm has a 50 day simple moving average of $145.84 and a 200-day simple moving average of $145.09. Manhattan Associates, Inc. has a 1-year low of $119.06 and a 1-year high of $229.57. The stock has a market cap of $8.97 billion, a price-to-earnings ratio of 42.48 and a beta of 0.97.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, April 21st. The software maker reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.14. The business had revenue of $282.21 million for the quarter, compared to analyst estimates of $273.70 million. Manhattan Associates had a return on equity of 78.13% and a net margin of 19.68%.The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.19 earnings per share. On average, equities analysts expect that Manhattan Associates, Inc. will post 3.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Eric Andrew Clark sold 1,000 shares of Manhattan Associates stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $146.77, for a total value of $146,770.00. Following the transaction, the chief executive officer directly owned 92,638 shares of the company’s stock, valued at $13,596,479.26. The trade was a 1.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.84% of the stock is currently owned by corporate insiders.

About Manhattan Associates

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.