PDT Partners LLC Purchases Shares of 9,768 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 position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,768 shares of the software maker's stock, valued at approximately $1,690,000.

A number of other hedge funds also recently added to or reduced their stakes in MANH. Algert Global LLC acquired a new stake in Manhattan Associates during the 4th quarter worth approximately $248,000. Caxton Associates LP purchased a new position in shares of Manhattan Associates in the 4th quarter valued at about $791,000. Captrust Financial Advisors boosted its stake in shares of Manhattan Associates by 26.5% in the 4th quarter. Captrust Financial Advisors now owns 6,194 shares of the software maker's stock valued at $1,674,000 after buying an additional 1,297 shares during the period. Bridgefront Capital LLC purchased a new position in shares of Manhattan Associates in the 4th quarter valued at about $363,000. Finally, BOKF NA boosted its stake in shares of Manhattan Associates by 0.4% in the 4th quarter. BOKF NA now owns 13,271 shares of the software maker's stock valued at $3,522,000 after buying an additional 55 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MANH has been the subject of several recent research reports. Citigroup reiterated a "neutral" rating and issued a $200.00 price objective (up previously from $177.00) on shares of Manhattan Associates in a research note on Wednesday, July 16th. Robert W. Baird lifted their target price on shares of Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Raymond James Financial boosted their target price on Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Truist Financial upped their price objective on Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, 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. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $216.67.

Insider Activity at Manhattan Associates

In other news, EVP James Stewart Gantt sold 2,300 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $220.33, for a total value of $506,759.00. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Eddie Capel sold 37,342 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chairman owned 162,988 shares of the company's stock, valued at $36,212,673.84. This trade represents a 18.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,666 shares of company stock worth $9,251,781 over the last three months. Company insiders own 0.88% of the company's stock.

Manhattan Associates Trading Up 2.6%

NASDAQ MANH traded up $5.45 during mid-day trading on Friday, reaching $215.31. 394,168 shares of the company's stock traded hands, compared to its average volume of 458,152. The company has a fifty day simple moving average of $210.25 and a 200-day simple moving average of $189.47. Manhattan Associates, Inc. has a 1-year low of $140.81 and a 1-year high of $312.60. The company has a market cap of $13.02 billion, a price-to-earnings ratio of 60.14 and a beta of 1.13.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share (EPS) for the quarter, topping 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 business had revenue of $272.42 million for the quarter, compared to the consensus estimate of $263.62 million. During the same quarter last year, the business posted $1.18 EPS. The business's revenue was up 2.7% on a year-over-year basis. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. Equities research analysts forecast that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

Manhattan Associates 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.