Gladius Capital Management LP Reduces Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Gladius Capital Management LP cut its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 16.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,906 shares of the software maker’s stock after selling 765 shares during the quarter. Manhattan Associates makes up approximately 0.1% of Gladius Capital Management LP’s investment portfolio, making the stock its 4th largest holding. Gladius Capital Management LP’s holdings in Manhattan Associates were worth $1,099,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MANH. Vanguard Group Inc. raised its stake in shares of Manhattan Associates by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 6,671,321 shares of the software maker’s stock worth $1,669,365,000 after acquiring an additional 58,905 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Manhattan Associates by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker’s stock worth $149,023,000 after purchasing an additional 2,156 shares in the last quarter. RGM Capital LLC lifted its holdings in shares of Manhattan Associates by 4.1% during the 2nd quarter. RGM Capital LLC now owns 583,037 shares of the software maker’s stock valued at $143,824,000 after purchasing an additional 23,000 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Manhattan Associates by 0.3% in the 1st quarter. Bessemer Group Inc. now owns 561,901 shares of the software maker’s stock worth $140,604,000 after purchasing an additional 1,757 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Manhattan Associates by 20.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 441,314 shares of the software maker’s stock worth $108,881,000 after buying an additional 76,378 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Price Performance

NASDAQ MANH 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 company has a market capitalization of $16.65 billion, a PE ratio of 77.45 and a beta of 1.52. The company has a fifty day moving average of $279.80 and a 200 day moving average of $252.45.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share 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 business had revenue of $266.70 million during the quarter, compared to analyst estimates of $262.90 million. During the same quarter last year, the business posted $0.79 EPS. The company’s revenue was up 11.9% on a year-over-year basis. Research analysts expect that Manhattan Associates, Inc. will post 3.4 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on MANH. Truist Financial raised their price target on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Citigroup boosted their target price on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. DA Davidson boosted their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Loop Capital raised their target price on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $286.38.

Manhattan Associates Company Profile

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.