Desjardins Global Asset Management Inc. Cuts Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Desjardins Global Asset Management Inc. trimmed its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 11.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,045 shares of the software maker’s stock after selling 923 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Manhattan Associates were worth $1,517,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Blue Trust Inc. raised its stake in shares of Manhattan Associates by 259.4% during the fourth quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock valued at $25,000 after acquiring an additional 83 shares during the last quarter. Bear Mountain Capital Inc. bought a new position in Manhattan Associates in the fourth quarter worth about $26,000. Eagle Bay Advisors LLC bought a new position in Manhattan Associates in the second quarter worth about $36,000. Compass Wealth Management LLC bought a new position in Manhattan Associates in the fourth quarter worth about $42,000. Finally, UMB Bank n.a. raised its stake in Manhattan Associates by 474.4% in the third quarter. UMB Bank n.a. now owns 224 shares of the software maker’s stock worth $44,000 after buying an additional 185 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Manhattan Associates Stock Up 0.3 %

NASDAQ:MANH opened at $231.16 on Wednesday. The company’s 50 day moving average price is $247.78 and its 200-day moving average price is $226.05. Manhattan Associates, Inc. has a 52 week low of $152.32 and a 52 week high of $266.94. The stock has a market cap of $14.23 billion, a price-to-earnings ratio of 81.97 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.23. Manhattan Associates had a net margin of 19.01% and a return on equity of 84.08%. The firm had revenue of $238.26 million for the quarter, compared to analysts’ expectations of $223.99 million. As a group, sell-side analysts anticipate that Manhattan Associates, Inc. will post 2.78 earnings per share for the current year.

Analyst Ratings Changes

MANH has been the subject of a number of research reports. Truist Financial increased their price target on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Raymond James raised their target price on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Citigroup began coverage on shares of Manhattan Associates in a research note on Wednesday, March 13th. They set a “neutral” rating and a $260.00 target price for the company. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $225.00 target price on shares of Manhattan Associates in a research note on Monday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.