TD Private Client Wealth LLC Sells 42 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

TD Private Client Wealth LLC cut its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 3.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,197 shares of the software maker’s stock after selling 42 shares during the period. TD Private Client Wealth LLC’s holdings in Manhattan Associates were worth $337,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. State Street Corp lifted its holdings in Manhattan Associates by 0.6% in the third quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock valued at $619,918,000 after buying an additional 12,787 shares during the period. FMR LLC raised its position in shares of Manhattan Associates by 7.3% during the 3rd quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock valued at $539,521,000 after acquiring an additional 130,817 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Manhattan Associates by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock valued at $426,308,000 after acquiring an additional 82,995 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Manhattan Associates in the 3rd quarter valued at $234,249,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Manhattan Associates by 0.4% in the 2nd 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 during the last quarter. Institutional investors own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Piper Sandler initiated coverage on Manhattan Associates in a research note on Monday, November 25th. They issued an “overweight” rating and a $326.00 target price on the stock. Loop Capital boosted their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th. DA Davidson increased their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a 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 stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Raymond James upped their price objective 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 equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $290.78.

Manhattan Associates Trading Down 3.7 %

MANH opened at $298.17 on Friday. The firm’s fifty day simple moving average is $286.25 and its 200 day simple moving average is $262.25. The stock has a market capitalization of $18.21 billion, a P/E ratio of 84.71 and a beta of 1.50. Manhattan Associates, Inc. has a 12 month low of $199.23 and a 12 month high of $312.60.

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

Insiders Place Their Bets

In related news, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the sale, the executive vice president now owns 42,812 shares in the company, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the firm’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 value 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 disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

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.