Jupiter Asset Management Ltd. Sells 39,431 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Jupiter Asset Management Ltd. lessened its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 20.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 152,812 shares of the software maker’s stock after selling 39,431 shares during the period. Jupiter Asset Management Ltd.’s holdings in Manhattan Associates were worth $37,696,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Qsemble Capital Management LP bought a new position in shares of Manhattan Associates during the 2nd quarter worth approximately $975,000. Ground Swell Capital LLC bought a new position in shares of Manhattan Associates during the 2nd quarter worth approximately $549,000. Coldstream Capital Management Inc. raised its stake in shares of 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 acquiring an additional 151 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in shares of Manhattan Associates by 24.3% during the 2nd quarter. Texas Permanent School Fund Corp now owns 66,966 shares of the software maker’s stock worth $16,519,000 after acquiring an additional 13,084 shares in the last quarter. Finally, Choreo LLC increased its stake in Manhattan Associates by 35.8% during the 2nd quarter. Choreo LLC now owns 1,935 shares of the software maker’s stock valued at $475,000 after purchasing an additional 510 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 $268.12 on Thursday. The company’s fifty day moving average price is $249.35 and its 200 day moving average price is $239.62. Manhattan Associates, Inc. has a 1 year low of $182.97 and a 1 year high of $268.89. The company has a market capitalization of $16.51 billion, a PE ratio of 87.62 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly 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. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The firm had revenue of $265.30 million for the quarter, compared to the consensus estimate of $255.83 million. During the same period in the prior year, the firm posted $0.63 earnings per share. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, equities analysts expect that Manhattan Associates, Inc. will post 3.01 EPS for the current year.

Analyst Ratings Changes

MANH has been the topic of a number of recent analyst reports. Citigroup upped their price target 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. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. DA Davidson upped their price target on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Loop Capital upped their price target on shares of Manhattan Associates from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $257.43.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the transaction, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at $11,872,615.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.72% of the company’s stock.

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.