41,322 Shares in Manhattan Associates, Inc. $MANH Acquired by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP acquired 41,322 shares of Manhattan Associates, Inc. for about $7.15 million, representing a 0.07% ownership in the company.
• Manhattan Associates reported quarterly earnings of $1.31 per share, exceeding analysts' estimates of $1.12, and announced a revenue of $272.42 million.
• Several brokerages have raised their price targets for Manhattan Associates, with Truist Financial setting a new target of $230.00 and DA Davidson raising theirs to $250.00, both maintaining a "buy" rating.

Quantbot Technologies LP bought a new position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm bought 41,322 shares of the software maker's stock, valued at approximately $7,150,000. Quantbot Technologies LP owned approximately 0.07% of Manhattan Associates as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. DAVENPORT & Co LLC acquired a new stake in Manhattan Associates in the 1st quarter worth approximately $214,000. Allianz Asset Management GmbH lifted its stake in Manhattan Associates by 18.9% during the 1st quarter. Allianz Asset Management GmbH now owns 143,687 shares of the software maker's stock valued at $24,864,000 after acquiring an additional 22,845 shares during the period. SG Americas Securities LLC lifted its stake in Manhattan Associates by 876.3% during the 1st quarter. SG Americas Securities LLC now owns 7,615 shares of the software maker's stock valued at $1,318,000 after acquiring an additional 6,835 shares during the period. Abacus FCF Advisors LLC lifted its stake in Manhattan Associates by 170.0% during the 1st quarter. Abacus FCF Advisors LLC now owns 32,865 shares of the software maker's stock valued at $5,687,000 after acquiring an additional 20,691 shares during the period. Finally, Merit Financial Group LLC lifted its stake in Manhattan Associates by 165.1% during the 1st quarter. Merit Financial Group LLC now owns 4,279 shares of the software maker's stock valued at $740,000 after acquiring an additional 2,665 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $214.79 on Monday. The company has a fifty day moving average of $203.51 and a two-hundred day moving average of $187.08. The stock has a market capitalization of $12.99 billion, a PE ratio of 60.00 and a beta of 1.10. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.19. The company 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 period in the prior year, the business posted $1.18 earnings per share. Research analysts forecast that Manhattan Associates, Inc. will post 3.3 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on MANH. Truist Financial lifted their price objective 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. DA Davidson lifted their price objective 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. Loop Capital lifted their price objective on shares of Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a research note on Tuesday, July 22nd. Citigroup restated a "neutral" rating and set a $200.00 price objective (up from $177.00) on shares of Manhattan Associates in a research note on Wednesday, July 16th. Finally, Redburn Atlantic cut shares of Manhattan Associates from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $270.00 to $200.00 in a research note on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $216.67.

Insiders Place Their Bets

In other Manhattan Associates news, Director Linda T. Hollembaek sold 2,024 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total transaction of $448,376.72. Following the completion of the transaction, the director directly owned 11,907 shares in the company, valued at approximately $2,637,757.71. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP James Stewart Gantt sold 2,300 shares of the company's stock in a transaction on 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 directly owned 48,660 shares of the company's stock, valued at $10,721,257.80. The trade was a 4.51% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,666 shares of company stock worth $9,251,781. Company insiders own 0.88% of the company's stock.

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.

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