Federated Hermes Inc. Reduces Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Federated Hermes Inc. lessened its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,134 shares of the software maker’s stock after selling 1,281 shares during the quarter. Federated Hermes Inc. owned approximately 0.06% of Manhattan Associates worth $7,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Capital Insight Partners LLC boosted its stake in shares of Manhattan Associates by 0.4% during the 3rd quarter. Capital Insight Partners LLC now owns 15,161 shares of the software maker’s stock worth $2,997,000 after acquiring an additional 57 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Manhattan Associates by 4.7% during the 3rd quarter. Signaturefd LLC now owns 1,274 shares of the software maker’s stock worth $252,000 after acquiring an additional 57 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Manhattan Associates by 25.9% during the 4th quarter. UMB Bank n.a. now owns 282 shares of the software maker’s stock worth $61,000 after acquiring an additional 58 shares during the last quarter. DAVENPORT & Co LLC boosted its stake in shares of Manhattan Associates by 1.2% during the 3rd quarter. DAVENPORT & Co LLC now owns 5,220 shares of the software maker’s stock worth $1,032,000 after acquiring an additional 60 shares during the last quarter. Finally, Raleigh Capital Management Inc. boosted its stake in shares of Manhattan Associates by 19.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 395 shares of the software maker’s stock worth $78,000 after acquiring an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MANH shares. Citigroup lowered their target price on shares of Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday. Truist Financial lifted their target price on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Rosenblatt Securities restated a “neutral” rating and set a $225.00 target price on shares of Manhattan Associates in a research note on Wednesday. Finally, Raymond James lifted their target price on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $225.57.

Insider Transactions at Manhattan Associates

In other news, CEO Eddie Capel sold 10,897 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total value of $2,699,513.81. Following the sale, the chief executive officer now directly owns 242,153 shares in the company, valued at approximately $59,988,562.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP James Stewart Gantt sold 680 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total transaction of $169,211.20. Following the transaction, the executive vice president now directly owns 57,093 shares in the company, valued at approximately $14,207,022.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eddie Capel sold 10,897 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the transaction, the chief executive officer now owns 242,153 shares in the company, valued at $59,988,562.69. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH opened at $206.32 on Thursday. The company has a market cap of $12.70 billion, a P/E ratio of 67.43 and a beta of 1.44. The firm’s fifty day moving average is $245.97 and its two-hundred day moving average is $227.06. Manhattan Associates, Inc. has a 52-week low of $152.32 and a 52-week high of $266.94.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.23. The company had revenue of $238.26 million for the quarter, compared to the consensus estimate of $223.99 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 87.22%. As a group, analysts forecast that Manhattan Associates, Inc. will post 2.78 EPS for the current fiscal year.

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.