UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stock Position in Manhattan Associates, Inc. $MANH

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 53.9% in the second quarter, Holdings Channel.com reports. The fund owned 222,127 shares of the software maker’s stock after selling 260,136 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Manhattan Associates were worth $30,931,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MANH. BlackRock Inc. purchased a new position in Manhattan Associates in the 2nd quarter valued at approximately $944,285,000. T. Rowe Price Investment Management Inc. boosted its position in Manhattan Associates by 35.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker’s stock worth $447,182,000 after purchasing an additional 671,589 shares in the last quarter. AQR Capital Management LLC grew its holdings in Manhattan Associates by 6.9% in the fourth quarter. AQR Capital Management LLC now owns 2,219,539 shares of the software maker’s stock valued at $384,668,000 after purchasing an additional 142,407 shares during the last quarter. Morgan Stanley grew its holdings in Manhattan Associates by 2.5% in the fourth quarter. Morgan Stanley now owns 2,178,422 shares of the software maker’s stock valued at $377,543,000 after purchasing an additional 53,037 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Manhattan Associates by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker’s stock valued at $305,199,000 after buying an additional 88,005 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Up 2.6%

Shares of NASDAQ:MANH opened at $222.35 on Friday. Manhattan Associates, Inc. has a 52-week low of $119.06 and a 52-week high of $227.03. The stock’s fifty day simple moving average is $181.18 and its 200-day simple moving average is $153.32. The company has a market capitalization of $12.97 billion, a P/E ratio of 63.71 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.07. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The business had revenue of $297.79 million for the quarter, compared to analyst estimates of $289.03 million. During the same quarter last year, the company earned $1.31 earnings per share. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Manhattan Associates, Inc. will post 3.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MANH. Weiss Ratings raised Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 14th. Robert W. Baird raised their target price on shares of Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a report on Wednesday, August 26th. Morgan Stanley set a $180.00 target price on shares of Manhattan Associates in a research report on Wednesday, July 29th. Stifel Nicolaus upped their price target on shares of Manhattan Associates from $200.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Finally, Wall Street Zen lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $213.40.

Insider Activity

In other news, EVP James Gantt sold 5,139 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total value of $1,004,828.67. Following the completion of the transaction, the executive vice president owned 55,676 shares of the company’s stock, valued at $10,886,328.28. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eric Clark sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total transaction of $593,280.00. Following the transaction, the chief executive officer directly owned 89,638 shares in the company, valued at $17,726,810.88. The trade was a 3.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,139 shares of company stock worth $1,744,879 over the last ninety days. 0.84% of the stock is owned by corporate insiders.

Manhattan Associates Profile

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.