Algert Global LLC Grows Stock Position in Manhattan Associates, Inc. $MANH

Key Points

• Algert Global LLC significantly increased its stake in Manhattan Associates, acquiring an additional 51,617 shares in the first quarter, raising its holdings by 5,622.8%.
• Manhattan Associates recently reported a quarterly earnings per share of $1.31, surpassing expectations, with a revenue of $272.42 million, an increase of 2.7% from the previous year.
• The stock has received mixed ratings from analysts, with price targets ranging from $190.00 to $250.00, reflecting a consensus rating of "Hold".

Algert Global LLC lifted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 5,622.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 52,535 shares of the software maker's stock after buying an additional 51,617 shares during the quarter. Algert Global LLC owned approximately 0.09% of Manhattan Associates worth $9,091,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MANH. Lazard Asset Management LLC raised its holdings in shares of Manhattan Associates by 2,075.5% in the fourth quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker's stock worth $107,842,000 after buying an additional 380,722 shares during the period. Nuveen LLC purchased a new stake in shares of Manhattan Associates in the first quarter worth approximately $40,174,000. GAMMA Investing LLC raised its holdings in shares of Manhattan Associates by 10,499.0% in the first quarter. GAMMA Investing LLC now owns 176,155 shares of the software maker's stock worth $30,482,000 after buying an additional 174,493 shares during the period. Northern Trust Corp raised its holdings in shares of Manhattan Associates by 26.5% in the fourth quarter. Northern Trust Corp now owns 761,820 shares of the software maker's stock worth $205,874,000 after buying an additional 159,572 shares during the period. Finally, AustralianSuper Pty Ltd raised its holdings in shares of Manhattan Associates by 59.6% in the first quarter. AustralianSuper Pty Ltd now owns 371,526 shares of the software maker's stock worth $64,289,000 after buying an additional 138,807 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Raymond James Financial increased their price target on Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Robert W. Baird increased their price objective on Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. DA Davidson increased their price objective on Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Citigroup reissued 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. Finally, Morgan Stanley assumed coverage on Manhattan Associates in a research note on Monday, July 14th. They issued an "underweight" rating and a $190.00 price objective on the stock. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $216.67.

Manhattan Associates Price Performance

NASDAQ MANH traded up $5.01 during midday trading on Friday, hitting $217.42. 108,915 shares of the company traded hands, compared to its average volume of 795,019. The company has a market cap of $13.15 billion, a PE ratio of 60.73 and a beta of 1.10. The company's 50-day simple moving average is $205.26 and its 200-day simple moving average is $187.59. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60.

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

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 2,300 shares of the 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 completion of the sale, the executive vice president owned 48,660 shares in the company, valued at approximately $10,721,257.80. This represents a 4.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Eddie Capel sold 37,342 shares of the stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $222.18, for a total value of $8,296,645.56. Following the sale, the chairman owned 162,988 shares of the company's stock, valued at approximately $36,212,673.84. This represents a 18.64% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,666 shares of company stock valued at $9,251,781. 0.88% of the stock is currently owned by corporate 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.