Inspire Investing LLC Sells 2,356 Shares of Manhattan Associates, Inc. $MANH

Inspire Investing LLC decreased its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 9.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,551 shares of the software maker’s stock after selling 2,356 shares during the period. Inspire Investing LLC’s holdings in Manhattan Associates were worth $4,680,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. bought a new position in Manhattan Associates during the 2nd quarter valued at $944,285,000. Swedbank AB increased its position in shares of Manhattan Associates by 25.0% in the first quarter. Swedbank AB now owns 1,500,000 shares of the software maker’s stock worth $199,680,000 after acquiring an additional 300,000 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Manhattan Associates during the second quarter valued at approximately $94,049,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Manhattan Associates by 2.0% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,608 shares of the software maker’s stock valued at $89,671,000 after acquiring an additional 13,128 shares during the period. Finally, Bessemer Group Inc. lifted its position in shares of Manhattan Associates by 6.2% in the 1st quarter. Bessemer Group Inc. now owns 670,427 shares of the software maker’s stock valued at $89,247,000 after acquiring an additional 39,125 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Weiss Ratings raised shares of Manhattan Associates from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. DA Davidson cut Manhattan Associates from a “buy” rating to a “neutral” rating and set a $210.00 target price for the company. in a research report on Monday, September 28th. Citigroup lifted their price target on Manhattan Associates from $203.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday. Stifel Nicolaus increased their price objective on Manhattan Associates from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 14th. Finally, UBS Group reissued a “buy” rating on shares of Manhattan Associates in a research note on Wednesday, October 14th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $229.33.

Insider Transactions at Manhattan Associates

In other news, CEO Eric Clark sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total transaction of $593,280.00. Following the completion of the sale, the chief executive officer directly owned 89,638 shares of the company’s stock, valued at $17,726,810.88. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James Gantt sold 5,139 shares of Manhattan Associates stock in a transaction dated 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 sale, the executive vice president owned 55,676 shares of the company’s stock, valued at approximately $10,886,328.28. This represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.84% of the stock is owned by company insiders.

Manhattan Associates Stock Down 1.6%

Shares of NASDAQ:MANH opened at $238.19 on Friday. The firm has a fifty day moving average of $213.12 and a two-hundred day moving average of $171.81. Manhattan Associates, Inc. has a 12-month low of $119.06 and a 12-month high of $242.63. The firm has a market capitalization of $13.89 billion, a P/E ratio of 68.25 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.07. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The business had revenue of $297.79 million for the quarter, compared to the consensus estimate of $289.03 million. During the same period in the prior year, the business posted $1.31 earnings per share. Manhattan Associates’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts expect that Manhattan Associates, Inc. will post 3.87 earnings per share for the current fiscal year.

About Manhattan Associates

Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.

The company’s product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.

Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.