Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by RGM Capital LLC

RGM Capital LLC cut its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 36.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 369,338 shares of the software maker’s stock after selling 213,699 shares during the quarter. Manhattan Associates accounts for 4.5% of RGM Capital LLC’s portfolio, making the stock its 11th largest holding. RGM Capital LLC owned 0.60% of Manhattan Associates worth $103,924,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Innealta Capital LLC acquired a new position in Manhattan Associates in the 2nd quarter worth approximately $26,000. International Assets Investment Management LLC acquired a new position in Manhattan Associates during the second quarter valued at $27,000. DT Investment Partners LLC purchased a new stake in Manhattan Associates in the 2nd quarter worth about $31,000. Ashton Thomas Private Wealth LLC acquired a new stake in Manhattan Associates during the 2nd quarter worth about $31,000. Finally, Capital Performance Advisors LLP purchased a new position in Manhattan Associates during the 3rd quarter valued at about $34,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. Citigroup raised their price target on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Loop Capital boosted their price target 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. Truist Financial increased their price objective on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Robert W. Baird boosted their target price on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Finally, DA Davidson raised their price target on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $290.78.

Manhattan Associates Price Performance

Shares of MANH stock traded down $1.79 during trading on Wednesday, reaching $288.95. The company had a trading volume of 6,085 shares, compared to its average volume of 414,594. The firm’s 50 day simple moving average is $281.33 and its two-hundred day simple moving average is $255.41. Manhattan Associates, Inc. has a one year low of $199.23 and a one year high of $307.50. The company has a market capitalization of $17.65 billion, a PE ratio of 82.09 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. The company had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.79 earnings per share. Analysts forecast 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.