Commerce Bank Has $4.14 Million Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Commerce Bank trimmed its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 8.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,727 shares of the software maker’s stock after selling 1,343 shares during the quarter. Commerce Bank’s holdings in Manhattan Associates were worth $4,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. PNC Financial Services Group Inc. raised its holdings in Manhattan Associates by 50.3% during the third quarter. PNC Financial Services Group Inc. now owns 4,751 shares of the software maker’s stock valued at $1,337,000 after buying an additional 1,591 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Manhattan Associates during the third quarter valued at approximately $399,000. Pathstone Holdings LLC raised its position in shares of Manhattan Associates by 2.0% in the third quarter. Pathstone Holdings LLC now owns 9,739 shares of the software maker’s stock valued at $2,740,000 after purchasing an additional 192 shares during the period. Braun Stacey Associates Inc. lifted its stake in shares of Manhattan Associates by 0.6% in the third quarter. Braun Stacey Associates Inc. now owns 98,975 shares of the software maker’s stock worth $27,850,000 after buying an additional 543 shares during the last quarter. Finally, Quest Partners LLC boosted its holdings in shares of Manhattan Associates by 74,900.0% during the 3rd quarter. Quest Partners LLC now owns 750 shares of the software maker’s stock worth $211,000 after buying an additional 749 shares during the period. Institutional investors own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. 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 downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Loop Capital lifted their price target on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Truist Financial increased their price objective on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Finally, Robert W. Baird boosted their target price 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. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $286.38.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $280.40 on Friday. The firm has a fifty day moving average of $280.92 and a 200-day moving average of $254.34. Manhattan Associates, Inc. has a 52-week low of $199.23 and a 52-week high of $307.50. The stock has a market cap of $17.13 billion, a price-to-earnings ratio of 79.66 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $262.90 million. During the same period in the prior year, the firm posted $0.79 EPS. Manhattan Associates’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts predict that Manhattan Associates, Inc. will post 3.4 earnings per share for the current year.

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.