6,781,222 Shares in Manhattan Associates, Inc. $MANH Bought by BlackRock Inc.

Key Points

• BlackRock acquired 6.78 million shares of Manhattan Associates in the second quarter, valued at approximately $944.3 million and representing an 11.63% stake. Institutional investors collectively own 98.45% of the company.
• Manhattan Associates reported quarterly revenue of $297.79 million, up 9.3% year over year, while earnings of $1.39 per share exceeded analyst estimates of $1.32.
• MANH shares opened at $214.56, near their 52-week high of $220.31. Analysts maintain a “Moderate Buy” consensus with an average price target of $209.20, while company insiders sold 9,139 shares worth about $1.74 million during the last quarter.

BlackRock Inc. purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,781,222 shares of the software maker's stock, valued at approximately $944,285,000. BlackRock Inc. owned approximately 11.63% of Manhattan Associates as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC grew its position in Manhattan Associates by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker's stock valued at $305,199,000 after acquiring an additional 88,005 shares during the last quarter. MUFG Securities EMEA plc bought a new position in shares of Manhattan Associates in the fourth quarter worth about $6,066,000. John G Ullman & Associates Inc. bought a new stake in shares of Manhattan Associates during the 4th quarter valued at approximately $2,106,000. VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in shares of Manhattan Associates by 30.6% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 187,555 shares of the software maker's stock valued at $32,505,000 after purchasing an additional 43,955 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its position in Manhattan Associates by 70.3% during the 4th quarter. Epoch Investment Partners Inc. now owns 522,382 shares of the software maker's stock worth $90,534,000 after purchasing an additional 215,574 shares in the last quarter. Institutional investors own 98.45% of the company's stock.

Insiders Place Their Bets

In related news, CEO Eric Andrew Clark sold 3,000 shares of the business's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total transaction of $593,280.00. Following the transaction, the chief executive officer owned 89,638 shares in the company, valued at $17,726,810.88. The trade was a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Stewart Gantt sold 5,139 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the transaction, the executive vice president directly owned 55,676 shares in the company, valued at approximately $10,886,328.28. This represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 9,139 shares of company stock worth $1,744,879 in the last quarter. 0.84% of the stock is owned by corporate insiders.

Manhattan Associates Price Performance

Shares of MANH stock opened at $214.56 on Friday. The business's 50 day simple moving average is $165.78 and its 200 day simple moving average is $148.46. Manhattan Associates, Inc. has a one year low of $119.06 and a one year high of $220.31. The stock has a market capitalization of $12.51 billion, a PE ratio of 61.48 and a beta of 0.93.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.32 by $0.07. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The business had revenue of $297.79 million during the quarter, compared to the consensus estimate of $289.03 million. During the same quarter in the prior year, the firm posted $1.31 EPS. The company's revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, research analysts expect that Manhattan Associates, Inc. will post 3.87 earnings per share for the current year.

Wall Street Analyst Weigh In

MANH has been the topic of a number of research reports. Citigroup boosted their target price on shares of Manhattan Associates from $177.00 to $193.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Morgan Stanley set a $180.00 price objective on Manhattan Associates in a report on Wednesday, July 29th. Robert W. Baird boosted their price objective on Manhattan Associates from $186.00 to $218.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. Barclays lowered their target price on Manhattan Associates from $239.00 to $201.00 and set an "overweight" rating for the company in a report on Friday, May 29th. Finally, Weiss Ratings upgraded shares of Manhattan Associates from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, July 14th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $209.20.

Manhattan Associates Profile

Manhattan Associates, Inc NASDAQ: MANH is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.

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