US Bancorp DE reduced its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 24.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,166 shares of the software maker’s stock after selling 1,374 shares during the period. US Bancorp DE’s holdings in Manhattan Associates were worth $196,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Transamerica Financial Advisors Inc. acquired a new position in shares of Manhattan Associates in the 2nd quarter valued at $111,000. Hartford Investment Management Co. acquired a new position in shares of Manhattan Associates in the 2nd quarter valued at $245,000. Barings LLC acquired a new position in shares of Manhattan Associates in the 2nd quarter valued at $291,000. M&T Bank Corp lifted its stake in shares of Manhattan Associates by 48.9% in the 1st quarter. M&T Bank Corp now owns 7,867 shares of the software maker’s stock valued at $329,000 after purchasing an additional 2,582 shares during the period. Finally, Denali Advisors LLC acquired a new position in shares of Manhattan Associates in the 2nd quarter valued at $385,000.

MANH opened at $59.13 on Tuesday. Manhattan Associates, Inc. has a 1 year low of $39.10 and a 1 year high of $62.39. The firm has a market capitalization of $3.98 billion, a P/E ratio of 37.36 and a beta of 1.25.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, July 24th. The software maker reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.06. The company had revenue of $141.90 million during the quarter, compared to analysts’ expectations of $140.42 million. Manhattan Associates had a net margin of 18.87% and a return on equity of 68.14%. The firm’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 earnings per share. research analysts anticipate that Manhattan Associates, Inc. will post 1.36 earnings per share for the current year.

Several research firms recently issued reports on MANH. BidaskClub upgraded shares of Manhattan Associates from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 10th. ValuEngine upgraded shares of Manhattan Associates from a “sell” rating to a “hold” rating in a research note on Wednesday, June 6th. TheStreet upgraded shares of Manhattan Associates from a “c+” rating to a “b-” rating in a research note on Friday, July 6th. Benchmark reiterated a “buy” rating and issued a $65.00 target price (up from $55.00) on shares of Manhattan Associates in a research note on Friday. Finally, Zacks Investment Research cut shares of Manhattan Associates from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Manhattan Associates currently has a consensus rating of “Buy” and an average target price of $60.00.

In other Manhattan Associates news, VP Bruce Richards sold 7,740 shares of the company’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $49.84, for a total transaction of $385,761.60. Following the completion of the transaction, the vice president now directly owns 20,820 shares in the company, valued at $1,037,668.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John J. Huntz, Jr. sold 2,000 shares of the company’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $56.42, for a total transaction of $112,840.00. Following the transaction, the director now owns 72,636 shares of the company’s stock, valued at $4,098,123.12. The disclosure for this sale can be found here. Insiders have sold 12,560 shares of company stock valued at $646,905 over the last 90 days. 0.99% of the stock is currently owned by company insiders.

About Manhattan Associates

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers, and other organizations. The company provides supply chain solutions, including distribution management, transportation management, and visibility solutions; omni-channel solutions; and inventory optimization and planning solutions.

Recommended Story: Technical Analysis

Want to see what other hedge funds are holding MANH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manhattan Associates, Inc. (NASDAQ:MANH).

Institutional Ownership by Quarter for Manhattan Associates (NASDAQ:MANH)

Receive News & Ratings for Manhattan Associates Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manhattan Associates and related companies with MarketBeat.com's FREE daily email newsletter.