Plato Investment Management Ltd Sells 869 Shares of Manhattan Associates, Inc. $MANH

Plato Investment Management Ltd lessened its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 29.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,054 shares of the software maker’s stock after selling 869 shares during the period. Plato Investment Management Ltd’s holdings in Manhattan Associates were worth $404,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. DAVENPORT & Co LLC acquired a new stake in Manhattan Associates in the first quarter valued at approximately $214,000. OneDigital Investment Advisors LLC increased its stake in Manhattan Associates by 3.7% during the 1st quarter. OneDigital Investment Advisors LLC now owns 4,653 shares of the software maker’s stock valued at $805,000 after purchasing an additional 164 shares in the last quarter. IFM Investors Pty Ltd increased its stake in Manhattan Associates by 11.0% during the 1st quarter. IFM Investors Pty Ltd now owns 13,201 shares of the software maker’s stock valued at $2,284,000 after purchasing an additional 1,303 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Manhattan Associates by 10.1% during the 1st quarter. Bank of New York Mellon Corp now owns 591,794 shares of the software maker’s stock valued at $102,404,000 after purchasing an additional 54,273 shares in the last quarter. Finally, M&T Bank Corp increased its stake in Manhattan Associates by 17.9% during the 1st quarter. M&T Bank Corp now owns 6,136 shares of the software maker’s stock valued at $1,062,000 after purchasing an additional 930 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH opened at $181.56 on Tuesday. The company’s fifty day moving average price is $204.94 and its 200 day moving average price is $199.55. Manhattan Associates, Inc. has a 1 year low of $140.81 and a 1 year high of $312.60. The company has a market capitalization of $10.94 billion, a PE ratio of 51.73 and a beta of 1.12.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, October 21st. The software maker reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.18. Manhattan Associates had a net margin of 20.25% and a return on equity of 78.80%. The firm had revenue of $275.80 million for the quarter, compared to the consensus estimate of $271.66 million. During the same period in the prior year, the firm posted $1.35 earnings per share. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. Manhattan Associates has set its FY 2025 guidance at 4.950-4.970 EPS. On average, equities analysts expect that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MANH shares. Barclays cut their price target on shares of Manhattan Associates from $247.00 to $244.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 22nd. Morgan Stanley set a $200.00 price objective on shares of Manhattan Associates and gave the company an “equal weight” rating in a research note on Wednesday, October 22nd. DA Davidson set a $250.00 price objective on shares of Manhattan Associates in a research note on Wednesday, October 22nd. Truist Financial set a $230.00 price objective on shares of Manhattan Associates in a research note on Wednesday, October 22nd. Finally, Zacks Research cut shares of Manhattan Associates from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $222.83.

Manhattan Associates 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.