Municipal Employees Retirement System of Michigan trimmed its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 22.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,850 shares of the software maker’s stock after selling 5,950 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Manhattan Associates were worth $867,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Sei Investments Co. boosted its position in shares of Manhattan Associates by 4.4% during the third quarter. Sei Investments Co. now owns 60,887 shares of the software maker’s stock worth $2,531,000 after buying an additional 2,581 shares during the period. FDx Advisors Inc. boosted its position in shares of Manhattan Associates by 16.7% during the third quarter. FDx Advisors Inc. now owns 42,442 shares of the software maker’s stock worth $1,764,000 after buying an additional 6,083 shares during the period. Alps Advisors Inc. boosted its position in shares of Manhattan Associates by 39.4% during the third quarter. Alps Advisors Inc. now owns 13,322 shares of the software maker’s stock worth $554,000 after buying an additional 3,763 shares during the period. West Coast Financial LLC acquired a new position in shares of Manhattan Associates during the third quarter worth about $2,610,000. Finally, American Century Companies Inc. acquired a new position in shares of Manhattan Associates during the third quarter worth about $465,000.

In related news, CEO Eddie Capel sold 23,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $42.04, for a total transaction of $966,920.00. Following the sale, the chief executive officer now owns 180,057 shares in the company, valued at $7,569,596.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.01% of the company’s stock.

Several research analysts have recently weighed in on the company. Zacks Investment Research raised Manhattan Associates from a “sell” rating to a “hold” rating in a research report on Saturday, November 18th. KeyCorp reaffirmed a “hold” rating on shares of Manhattan Associates in a research report on Tuesday, October 17th. SunTrust Banks, Inc. raised Manhattan Associates from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Tuesday, October 3rd. They noted that the move was a valuation call. Finally, BidaskClub cut Manhattan Associates from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $65.00.

Manhattan Associates, Inc. (MANH) opened at $43.70 on Monday. The firm has a market capitalization of $3,012.37, a PE ratio of 24.69 and a beta of 1.15. Manhattan Associates, Inc. has a 52-week low of $40.75 and a 52-week high of $55.74.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, October 24th. The software maker reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.02. Manhattan Associates had a return on equity of 74.19% and a net margin of 20.38%. The business had revenue of $152.88 million for the quarter, compared to analyst estimates of $150.30 million. During the same quarter in the prior year, the company posted $0.50 earnings per share. Manhattan Associates’s revenue was up .4% on a year-over-year basis. equities research analysts predict that Manhattan Associates, Inc. will post 1.75 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This report was first published by Watch List News and is owned by of Watch List News. If you are reading this report on another website, it was illegally stolen and reposted in violation of United States and international trademark and copyright laws. The legal version of this report can be read at https://www.watchlistnews.com/manhattan-associates-inc-manh-shares-sold-by-municipal-employees-retirement-system-of-michigan/1728493.html.

Manhattan Associates Profile

Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company operates through three geographical segments: the Americas, Europe, Middle East and Africa (EMEA), and the Asia Pacific (APAC). It is engaged in developing, selling, deploying, servicing and maintaining software solutions designed to manage supply chains, inventory and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers and other organizations.

Institutional Ownership by Quarter for Manhattan Associates (NASDAQ:MANH)

Receive News & Ratings for Manhattan Associates Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manhattan Associates Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.