Alberta Investment Management Corp Buys New Shares in Manhattan Associates, Inc. (NASDAQ:MANH)

Key Points

• Alberta Investment Management Corp has acquired a new stake in Manhattan Associates, buying 25,502 shares worth approximately $4.41 million in the first quarter.
• Wall Street analysts have mixed views on Manhattan Associates, with target prices ranging from $190.00 to $270.00, resulting in a consensus rating of "Hold" and an average target of $216.67.
• Manhattan Associates reported a net margin of 20.91% and a return on equity of 82.91%, with quarterly revenue increasing by 2.7% year-over-year to $272.42 million.

Alberta Investment Management Corp bought a new stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 25,502 shares of the software maker's stock, valued at approximately $4,413,000.

A number of other hedge funds have also added to or reduced their stakes in the business. DAVENPORT & Co LLC acquired a new stake in Manhattan Associates in the first quarter valued at $214,000. Prudential PLC lifted its stake in Manhattan Associates by 40.0% in the fourth quarter. Prudential PLC now owns 23,936 shares of the software maker's stock valued at $6,468,000 after acquiring an additional 6,835 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in Manhattan Associates by 18.9% in the first 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 last quarter. SG Americas Securities LLC lifted its stake in shares of Manhattan Associates by 876.3% during the 1st quarter. SG Americas Securities LLC now owns 7,615 shares of the software maker's stock worth $1,318,000 after buying an additional 6,835 shares during the last quarter. Finally, Abacus FCF Advisors LLC lifted its stake in shares of Manhattan Associates by 170.0% during the 1st quarter. Abacus FCF Advisors LLC now owns 32,865 shares of the software maker's stock worth $5,687,000 after buying an additional 20,691 shares during the last quarter. Institutional investors own 98.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Raymond James Financial raised their target price on shares of 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 assumed coverage on shares of Manhattan Associates in a research note on Monday, July 14th. They set an "underweight" rating and a $190.00 target price for the company. Truist Financial raised their target price on shares of Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Redburn Atlantic cut shares of Manhattan Associates from a "buy" rating to a "neutral" rating and cut their target price for the stock from $270.00 to $200.00 in a research note on Tuesday, June 10th. Finally, Robert W. Baird raised their target price on shares of Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates has a consensus rating of "Hold" and an average price target of $216.67.

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $214.66 on Friday. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60. The firm has a market cap of $12.98 billion, a price-to-earnings ratio of 59.96 and a beta of 1.10. The firm's 50-day simple moving average is $198.54 and its 200 day simple moving average is $191.65.

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, topping analysts' consensus estimates of $1.12 by $0.19. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The business had revenue of $272.42 million for the quarter, compared to analyst estimates of $263.62 million. During the same period last year, the firm earned $1.18 earnings per share. Manhattan Associates's revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts anticipate that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

Insider Activity

In related news, Director Linda T. Hollembaek sold 2,024 shares of the stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP James Stewart Gantt sold 2,300 shares of Manhattan Associates 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 completion of the transaction, the executive vice president directly owned 48,660 shares in the company, valued at $10,721,257.80. This trade represents a 4.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,666 shares of company stock worth $9,251,781. 0.88% of the stock is currently owned by corporate insiders.

About Manhattan Associates

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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