Oppenheimer Asset Management Inc. Lowers Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Oppenheimer Asset Management Inc. lowered its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,433 shares of the software maker’s stock after selling 439 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Manhattan Associates were worth $3,780,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MANH. State Board of Administration of Florida Retirement System grew its holdings in shares of Manhattan Associates by 2.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 71,935 shares of the software maker’s stock worth $18,000,000 after buying an additional 2,052 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Manhattan Associates by 12.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 32,798 shares of the software maker’s stock valued at $8,207,000 after purchasing an additional 3,533 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in Manhattan Associates by 10.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 77,727 shares of the software maker’s stock valued at $19,363,000 after purchasing an additional 7,506 shares during the period. Intech Investment Management LLC lifted its position in Manhattan Associates by 309.6% in the first quarter. Intech Investment Management LLC now owns 18,146 shares of the software maker’s stock valued at $4,541,000 after purchasing an additional 13,716 shares during the period. Finally, Vanguard Group Inc. lifted its position in Manhattan Associates by 0.9% in the first quarter. Vanguard Group Inc. now owns 6,671,321 shares of the software maker’s stock valued at $1,669,365,000 after purchasing an additional 58,905 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

MANH stock opened at $272.62 on Friday. Manhattan Associates, Inc. has a 1 year low of $199.23 and a 1 year high of $307.50. The stock’s 50 day moving average price is $279.80 and its 200 day moving average price is $252.13. The firm has a market cap of $16.65 billion, a P/E ratio of 77.45 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The firm had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. During the same quarter in the prior year, the company earned $0.79 EPS. Manhattan Associates’s revenue was up 11.9% on a year-over-year basis. On average, research analysts predict that Manhattan Associates, Inc. will post 3.4 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on MANH. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Truist Financial raised their price objective on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, October 11th. DA Davidson lifted their price target on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird lifted their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Raymond James lifted their price target on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Manhattan Associates presently has an average rating of “Moderate Buy” and an average target price of $286.38.

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.