NorthCrest Asset Manangement LLC Invests $421,000 in Manhattan Associates, Inc. $MANH

Key Points

• NorthCrest Asset Management LLC purchased 2,105 shares of Manhattan Associates, Inc., worth approximately $421,000, indicating institutional interest in the company's stock.
• Multiple analysts have upgraded Manhattan Associates' stock ratings, with price targets ranging from $200.00 to $250.00, suggesting a positive outlook for the company.
• Insider trading activity included the chairman selling over 37,000 shares at an average price of $222.18, resulting in a significant decrease in his holdings.

NorthCrest Asset Manangement LLC bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 2,105 shares of the software maker's stock, valued at approximately $421,000.

A number of other large investors also recently bought and sold shares of the company. Swedbank AB lifted its holdings in Manhattan Associates by 50.0% during the 2nd quarter. Swedbank AB now owns 1,199,969 shares of the software maker's stock worth $236,958,000 after buying an additional 399,969 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Manhattan Associates by 101.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,100,410 shares of the software maker's stock worth $190,415,000 after buying an additional 554,840 shares during the last quarter. Northern Trust Corp lifted its holdings in Manhattan Associates by 6.3% during the 1st quarter. Northern Trust Corp now owns 809,894 shares of the software maker's stock worth $140,144,000 after buying an additional 48,074 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Manhattan Associates by 103.0% during the 1st quarter. AQR Capital Management LLC now owns 684,663 shares of the software maker's stock worth $116,872,000 after buying an additional 347,358 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Manhattan Associates by 1,214.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 606,038 shares of the software maker's stock worth $104,869,000 after buying an additional 559,923 shares during the last quarter. Institutional investors own 98.45% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MANH shares. Citigroup reissued a "neutral" rating and issued a $200.00 price target (up previously from $177.00) on shares of Manhattan Associates in a report on Wednesday, July 16th. Raymond James Financial raised their price target on Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Truist Financial raised their price target on Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Robert W. Baird raised their price target on Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Finally, Redburn Atlantic downgraded Manhattan Associates from a "buy" rating to a "neutral" rating and cut their price target for the stock from $270.00 to $200.00 in a report on Tuesday, June 10th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Manhattan Associates has a consensus rating of "Moderate Buy" and a consensus price target of $216.67.

Manhattan Associates Trading Down 0.8%

MANH traded down $1.69 during trading hours on Tuesday, hitting $214.12. The company's stock had a trading volume of 100,616 shares, compared to its average volume of 768,802. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60. The firm has a market capitalization of $12.95 billion, a PE ratio of 59.89 and a beta of 1.13. The company has a 50-day simple moving average of $213.86 and a 200 day simple moving average of $192.64.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.19. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%.The company had revenue of $272.42 million for the quarter, compared to analysts' expectations of $263.62 million. During the same period last year, the firm earned $1.18 EPS. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. Research analysts expect that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

Insider Activity

In other news, Chairman Eddie Capel sold 37,342 shares of Manhattan Associates stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $222.18, for a total transaction of $8,296,645.56. Following the transaction, the chairman directly owned 162,988 shares in the company, valued at approximately $36,212,673.84. This trade represents a 18.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Linda T. Hollembaek sold 2,024 shares of Manhattan Associates stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total value of $448,376.72. Following the transaction, the director owned 11,907 shares in the company, valued at approximately $2,637,757.71. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,666 shares of company stock worth $9,251,781. 0.72% of the stock is owned by company insiders.

Manhattan Associates Company 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.