Caisse DE Depot ET Placement DU Quebec Sells 74,374 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Caisse DE Depot ET Placement DU Quebec lowered its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 32.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 152,498 shares of the software maker’s stock after selling 74,374 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Manhattan Associates were worth $42,910,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA acquired a new stake in Manhattan Associates in the 3rd quarter worth approximately $234,249,000. Fiera Capital Corp acquired a new stake in shares of Manhattan Associates in the second quarter worth $44,705,000. Squarepoint Ops LLC boosted its holdings in shares of Manhattan Associates by 448.9% during the 2nd quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker’s stock worth $39,629,000 after buying an additional 131,381 shares during the period. FMR LLC grew its stake in Manhattan Associates by 7.3% in the 3rd quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock valued at $539,521,000 after buying an additional 130,817 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Manhattan Associates by 118.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker’s stock worth $48,860,000 after acquiring an additional 94,283 shares during the period. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Trading Down 0.8 %

MANH opened at $285.44 on Monday. The stock’s 50 day simple moving average is $282.46 and its 200-day simple moving average is $257.13. The stock has a market cap of $17.43 billion, a PE ratio of 81.09 and a beta of 1.52. Manhattan Associates, Inc. has a 1 year low of $199.23 and a 1 year high of $307.50.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The firm had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. During the same quarter in the previous year, the firm posted $0.79 EPS. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities analysts forecast that Manhattan Associates, Inc. will post 3.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value of $1,001,147.50. Following the sale, the executive vice president now directly owns 42,812 shares in the company, valued at $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MANH shares. Loop Capital upped 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. Piper Sandler started coverage on Manhattan Associates in a research note on Monday, November 25th. They set an “overweight” rating and a $326.00 target price for the company. Citigroup lifted their price target on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Robert W. Baird increased their price objective on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Raymond James raised their price objective on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $290.78.

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.