PDT Partners LLC Invests $1.69 Million in Manhattan Associates, Inc. $MANH

Key Points

• PDT Partners LLC acquired 9,768 shares of Manhattan Associates, Inc. during the first quarter, valued at approximately $1,690,000.
• In Q2, Manhattan Associates reported earnings of $1.31 EPS, surpassing estimates, with quarterly revenue of $272.42 million.
• Several analysts have updated their price targets for Manhattan Associates, with six analysts rating it a Buy and a consensus price target of $216.67.

PDT Partners LLC bought a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 9,768 shares of the software maker's stock, valued at approximately $1,690,000.

Other hedge funds also recently bought and sold shares of the company. Algert Global LLC bought a new stake in Manhattan Associates during the 4th quarter valued at $248,000. Caxton Associates LP purchased a new stake in shares of Manhattan Associates during the fourth quarter valued at approximately $791,000. Captrust Financial Advisors boosted its holdings in Manhattan Associates by 26.5% in the fourth quarter. Captrust Financial Advisors now owns 6,194 shares of the software maker's stock worth $1,674,000 after purchasing an additional 1,297 shares during the last quarter. Bridgefront Capital LLC purchased a new position in shares of Manhattan Associates in the 4th quarter worth $363,000. Finally, BOKF NA boosted its stake in shares of Manhattan Associates by 0.4% during the 4th quarter. BOKF NA now owns 13,271 shares of the software maker's stock worth $3,522,000 after acquiring an additional 55 shares during the last quarter. Institutional investors own 98.45% of the company's stock.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH traded up $2.71 during trading on Monday, hitting $218.02. 113,598 shares of the company were exchanged, compared to its average volume of 775,638. The firm has a market capitalization of $13.18 billion, a PE ratio of 60.89 and a beta of 1.13. The company has a fifty day moving average price of $210.25 and a 200-day moving average price of $189.49. Manhattan Associates, Inc. has a 12-month low of $140.81 and a 12-month high of $312.60.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Citigroup reaffirmed a "neutral" rating and set a $200.00 price target (up previously from $177.00) on shares of Manhattan Associates in a report on Wednesday, July 16th. Robert W. Baird increased their target price on shares of Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Raymond James Financial increased their target price on Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Morgan Stanley started coverage on Manhattan Associates in a report on Monday, July 14th. They set an "underweight" rating and a $190.00 price objective on the stock. Finally, Loop Capital lifted their price target on Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a report on Tuesday, July 22nd. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Manhattan Associates presently has an average rating of "Moderate Buy" and an average target price of $216.67.

Insiders Place Their Bets

In related news, EVP James Stewart Gantt sold 2,300 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were 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 in the company, valued at approximately $10,721,257.80. This represents a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Eddie Capel sold 37,342 shares of the stock in a transaction that occurred on 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 directly owned 162,988 shares in the company, valued at approximately $36,212,673.84. This represents a 18.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,666 shares of company stock worth $9,251,781 in the last quarter. 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.