PNC Financial Services Group Inc. Sells 723 Shares of Manhattan Associates, Inc. $MANH

PNC Financial Services Group Inc. trimmed its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 8.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,968 shares of the software maker’s stock after selling 723 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Manhattan Associates were worth $1,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Whipplewood Advisors LLC boosted its stake in shares of Manhattan Associates by 907.7% during the second quarter. Whipplewood Advisors LLC now owns 131 shares of the software maker’s stock valued at $26,000 after purchasing an additional 118 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Manhattan Associates by 117.0% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 230 shares of the software maker’s stock valued at $45,000 after buying an additional 124 shares during the last quarter. Hantz Financial Services Inc. boosted its position in Manhattan Associates by 1,000.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 308 shares of the software maker’s stock valued at $61,000 after buying an additional 280 shares during the period. Brooklyn Investment Group grew its holdings in Manhattan Associates by 70.1% in the 1st quarter. Brooklyn Investment Group now owns 359 shares of the software maker’s stock worth $62,000 after acquiring an additional 148 shares during the last quarter. Finally, Bayforest Capital Ltd increased its position in shares of Manhattan Associates by 126.6% in the first quarter. Bayforest Capital Ltd now owns 494 shares of the software maker’s stock valued at $85,000 after acquiring an additional 276 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MANH has been the topic of several recent analyst reports. Truist Financial set a $230.00 target price on Manhattan Associates in a research note on Wednesday, October 22nd. Stifel Nicolaus dropped their price objective on Manhattan Associates from $250.00 to $240.00 and set a “buy” rating for the company in a report on Wednesday, October 22nd. UBS Group set a $240.00 target price on Manhattan Associates in a research note on Wednesday, October 22nd. Zacks Research downgraded Manhattan Associates from a “strong-buy” rating to a “hold” rating in a report on Monday, September 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Manhattan Associates in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $222.42.

Manhattan Associates Stock Down 0.3%

MANH opened at $171.50 on Thursday. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60. The stock has a market cap of $10.33 billion, a PE ratio of 48.86 and a beta of 1.08. The business has a 50 day moving average of $195.67 and a 200-day moving average of $199.63.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data 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. The business had revenue of $275.80 million during the quarter, compared to the consensus estimate of $271.66 million. Manhattan Associates had a return on equity of 78.80% and a net margin of 20.25%.The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.35 earnings per share. Manhattan Associates has set its FY 2025 guidance at 4.950-4.970 EPS. Equities analysts anticipate that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

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.