Manhattan Associates, Inc. (NASDAQ:MANH) Stock Holdings Lessened by ClariVest Asset Management LLC

ClariVest Asset Management LLC trimmed its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 10.2% during the second quarter, HoldingsChannel.com reports. The fund owned 13,381 shares of the software maker’s stock after selling 1,516 shares during the period. ClariVest Asset Management LLC’s holdings in Manhattan Associates were worth $3,301,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Coldstream Capital Management Inc. raised its holdings in Manhattan Associates by 5.9% during the 2nd quarter. Coldstream Capital Management Inc. now owns 2,709 shares of the software maker’s stock worth $668,000 after buying an additional 151 shares during the period. Texas Permanent School Fund Corp boosted its stake in Manhattan Associates by 24.3% in the 2nd quarter. Texas Permanent School Fund Corp now owns 66,966 shares of the software maker’s stock worth $16,519,000 after purchasing an additional 13,084 shares during the period. Choreo LLC grew its position in Manhattan Associates by 35.8% during the 2nd quarter. Choreo LLC now owns 1,935 shares of the software maker’s stock worth $475,000 after purchasing an additional 510 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Manhattan Associates during the 2nd quarter valued at $31,000. Finally, Caprock Group LLC purchased a new stake in shares of Manhattan Associates in the second quarter valued at $1,024,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Trading Up 1.7 %

Shares of NASDAQ:MANH opened at $259.49 on Wednesday. The stock has a market capitalization of $15.89 billion, a PE ratio of 84.80 and a beta of 1.50. Manhattan Associates, Inc. has a 1 year low of $182.97 and a 1 year high of $267.00. The firm has a fifty day moving average price of $248.91 and a 200 day moving average price of $239.42.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.22. The firm had revenue of $265.30 million during the quarter, compared to analysts’ expectations of $255.83 million. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The company’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 earnings per share. On average, sell-side analysts forecast that Manhattan Associates, Inc. will post 3.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total value of $1,539,000.00. Following the sale, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at $11,872,615.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MANH shares. Loop Capital lifted their price target on Manhattan Associates from $250.00 to $265.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Redburn Atlantic started coverage on Manhattan Associates in a report on Tuesday, May 14th. They issued a “buy” rating and a $260.00 target price on the stock. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Citigroup upped their price objective on shares of Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a research note on Friday, June 28th. Finally, DA Davidson boosted their price target on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.43.

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.