10,433 Shares in Manhattan Associates, Inc. (NASDAQ:MANH) Bought by Zions Bancorporation National Association UT

Key Points

• Zions Bancorporation has acquired 10,433 shares of Manhattan Associates, Inc. (NASDAQ:MANH), valued at approximately $1.8 million, indicating growing institutional interest in the company.
• Analysts have mixed opinions on MANH, with a range of target prices from $190 to $250; the current consensus rating is "Hold".
• In the latest earnings report, Manhattan Associates surpassed analysts' expectations with earnings per share of $1.31 and revenue of $272.42 million.

Zions Bancorporation National Association UT acquired a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,433 shares of the software maker's stock, valued at approximately $1,805,000.

Several other large investors have also modified their holdings of MANH. Central Pacific Bank Trust Division boosted its holdings in shares of Manhattan Associates by 107.3% during the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock worth $34,000 after buying an additional 103 shares during the period. Park Square Financial Group LLC acquired a new position in Manhattan Associates during the 4th quarter valued at $38,000. Transce3nd LLC acquired a new position in Manhattan Associates during the 4th quarter valued at $41,000. Reyes Financial Architecture Inc. raised its stake in Manhattan Associates by 42.5% during the 1st quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock valued at $82,000 after purchasing an additional 142 shares during the last quarter. Finally, Bayforest Capital Ltd raised its stake in Manhattan Associates by 126.6% during the 1st quarter. Bayforest Capital Ltd now owns 494 shares of the software maker's stock valued at $85,000 after purchasing an additional 276 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

MANH has been the subject of several research analyst reports. Redburn Atlantic cut shares of Manhattan Associates from a "buy" rating to a "neutral" rating and cut their target price for the company from $270.00 to $200.00 in a research note on Tuesday, June 10th. Raymond James Financial upped their target price on shares of Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. DA Davidson upped their target price on shares of Manhattan Associates from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Truist Financial upped their target price on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Morgan Stanley began coverage on shares of Manhattan Associates in a research note on Monday, July 14th. They set an "underweight" rating and a $190.00 target price for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $216.67.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $205.79 on Friday. 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 $12.44 billion, a price-to-earnings ratio of 57.48 and a beta of 1.10. The firm has a fifty day moving average of $201.05 and a 200-day moving average of $189.44.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.19. The business had revenue of $272.42 million during the quarter, compared to analysts' expectations of $263.62 million. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the company posted $1.18 EPS. On average, sell-side analysts predict that Manhattan Associates, Inc. will post 3.3 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Eddie Capel sold 37,342 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $222.18, for a total transaction of $8,296,645.56. Following the completion of the sale, the chairman owned 162,988 shares in the company, valued at $36,212,673.84. This trade represents a 18.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP James Stewart Gantt sold 2,300 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $220.33, for a total transaction of $506,759.00. Following the sale, the executive vice president owned 48,660 shares of the company's stock, valued at $10,721,257.80. This trade represents a 4.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,666 shares of company stock worth $9,251,781 in the last quarter. 0.88% of the stock is owned by corporate insiders.

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.

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