Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. reduced its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 16.4% during the 3rd quarter, Holdings Channel reports. The fund owned 2,730 shares of the software maker’s stock after selling 534 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Manhattan Associates were worth $766,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MANH. Fidelis Capital Partners LLC increased its holdings in Manhattan Associates by 3.2% during the 3rd quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock worth $347,000 after purchasing an additional 40 shares during the period. Ascent Group LLC grew its position in shares of Manhattan Associates by 4.8% during the third quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock worth $252,000 after buying an additional 41 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Manhattan Associates by 16.7% during the third quarter. UMB Bank n.a. now owns 301 shares of the software maker’s stock worth $85,000 after buying an additional 43 shares during the period. SkyView Investment Advisors LLC raised its holdings in Manhattan Associates by 0.9% in the second quarter. SkyView Investment Advisors LLC now owns 5,018 shares of the software maker’s stock valued at $1,238,000 after acquiring an additional 46 shares in the last quarter. Finally, Huntington National Bank lifted its stake in Manhattan Associates by 5.9% in the third quarter. Huntington National Bank now owns 879 shares of the software maker’s stock worth $247,000 after acquiring an additional 49 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Stock Down 4.6 %

Shares of NASDAQ MANH opened at $281.63 on Thursday. The firm has a 50-day moving average price of $286.62 and a 200 day moving average price of $263.79. Manhattan Associates, Inc. has a 52 week low of $199.23 and a 52 week high of $312.60. The stock has a market capitalization of $17.20 billion, a price-to-earnings ratio of 80.01 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The company had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. During the same quarter in the prior year, the firm earned $0.79 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities research analysts expect that Manhattan Associates, Inc. will post 3.39 EPS for the current fiscal year.

Analyst Ratings Changes

MANH has been the topic of a number of analyst reports. DA Davidson raised 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. Loop Capital raised their price target on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Piper Sandler began coverage on Manhattan Associates in a research report on Monday, November 25th. They set an “overweight” rating and a $326.00 price objective for the company. Robert W. Baird increased their price objective on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, Truist Financial boosted their target price on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Manhattan Associates presently has a consensus rating of “Moderate Buy” and an average target price of $292.89.

Insider Activity at Manhattan Associates

In related news, SVP Bruce Richards sold 4,150 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the transaction, the senior vice president now owns 22,086 shares of the company’s stock, valued at approximately $6,398,976.78. This represents a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the transaction, the executive vice president now owns 42,812 shares in the company, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

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.