Voya Investment Management LLC Sells 22,843 Shares of Manhattan Associates, Inc. $MANH

Voya Investment Management LLC lowered its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 56.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 17,733 shares of the software maker’s stock after selling 22,843 shares during the period. Voya Investment Management LLC’s holdings in Manhattan Associates were worth $3,635,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in MANH. Alliancebernstein L.P. increased its position in Manhattan Associates by 1.5% during the 2nd quarter. Alliancebernstein L.P. now owns 2,283,580 shares of the software maker’s stock valued at $450,939,000 after purchasing an additional 34,205 shares during the period. AQR Capital Management LLC boosted its stake in shares of Manhattan Associates by 181.6% during the second quarter. AQR Capital Management LLC now owns 1,928,053 shares of the software maker’s stock valued at $380,733,000 after purchasing an additional 1,243,390 shares in the last quarter. Swedbank AB increased its holdings in Manhattan Associates by 50.0% during the second quarter. Swedbank AB now owns 1,199,969 shares of the software maker’s stock valued at $236,958,000 after buying an additional 399,969 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Manhattan Associates by 101.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,100,410 shares of the software maker’s stock worth $190,415,000 after buying an additional 554,840 shares in the last quarter. Finally, Norges Bank purchased a new stake in Manhattan Associates during the second quarter worth $162,545,000. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Stock Up 0.6%

MANH opened at $176.35 on Friday. The company has a market cap of $10.63 billion, a P/E ratio of 50.24 and a beta of 1.02. The firm’s 50-day moving average price is $178.47 and its 200-day moving average price is $196.91. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $299.27.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, October 21st. The software maker reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.18. The company had revenue of $275.80 million for the quarter, compared to the consensus estimate of $271.66 million. Manhattan Associates had a net margin of 20.25% and a return on equity of 78.80%. Manhattan Associates’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.35 EPS. Manhattan Associates has set its FY 2025 guidance at 4.950-4.970 EPS. On average, research analysts anticipate that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Barclays cut their price target on Manhattan Associates from $244.00 to $239.00 and set an “overweight” rating on the stock in a report on Thursday, November 13th. Zacks Research downgraded shares of Manhattan Associates from a “strong-buy” rating to a “hold” rating in a report on Monday, September 22nd. UBS Group set a $240.00 price target on shares of Manhattan Associates in a research report on Wednesday, October 22nd. DA Davidson set a $250.00 price objective on shares of Manhattan Associates in a research note on Wednesday, October 22nd. Finally, Stifel Nicolaus decreased their target price on shares of Manhattan Associates from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued 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 $222.42.

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.