Hancock Whitney Corp Sells 760 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Hancock Whitney Corp reduced its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 11.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,684 shares of the software maker’s stock after selling 760 shares during the quarter. Hancock Whitney Corp’s holdings in Manhattan Associates were worth $1,422,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MANH. Blue Trust Inc. lifted its position in shares of Manhattan Associates by 259.4% during the 4th quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock valued at $25,000 after buying an additional 83 shares in the last quarter. Tobam bought a new stake in Manhattan Associates during the 1st quarter worth approximately $25,000. Bear Mountain Capital Inc. purchased a new position in Manhattan Associates during the fourth quarter valued at approximately $26,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Manhattan Associates in the fourth quarter worth approximately $26,000. Finally, Benjamin Edwards Inc. purchased a new stake in shares of Manhattan Associates in the first quarter worth $27,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Price Performance

Shares of NASDAQ MANH traded down $9.37 during midday trading on Friday, reaching $241.29. 69,097 shares of the stock traded hands, compared to its average volume of 425,293. The company’s 50 day moving average is $235.08 and its 200 day moving average is $235.66. Manhattan Associates, Inc. has a one year low of $182.97 and a one year high of $266.94. The stock has a market capitalization of $14.78 billion, a PE ratio of 81.92 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, beating the consensus estimate of $0.96 by $0.22. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The business had revenue of $265.30 million during the quarter, compared to analyst estimates of $255.83 million. During the same quarter last year, the business earned $0.63 earnings per share. Manhattan Associates’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, equities analysts forecast that Manhattan Associates, Inc. will post 3.01 EPS for the current year.

Insider Buying and Selling

In other news, EVP James Stewart Gantt sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total value of $1,539,000.00. Following the completion of the sale, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MANH has been the topic of a number of analyst reports. William Blair restated a “market perform” rating on shares of Manhattan Associates in a research note on Wednesday, April 24th. Redburn Atlantic started coverage on Manhattan Associates in a research note on Tuesday, May 14th. They issued a “buy” rating and a $260.00 price objective for the company. Citigroup lifted their target price on Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a research note on Friday, June 28th. DA Davidson upped their price target on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $257.43.

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.