Allegiance Financial Group Advisory Services LLC Invests $265,000 in Manhattan Associates, Inc. $MANH

Key Points

• Allegiance Financial Group Advisory Services LLC invested $265,000 in Manhattan Associates by acquiring 1,340 shares during the 2nd quarter, according to a recent SEC filing.
• Several institutional investors have increased their stakes, with notable increases of up to 876.3% by SG Americas Securities LLC, emphasizing strong institutional interest in the company.
• Analysts have provided positive ratings, with target prices for Manhattan Associates rising to as high as $250.00, reflecting a consensus average rating of "Moderate Buy."

Allegiance Financial Group Advisory Services LLC bought a new position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,340 shares of the software maker's stock, valued at approximately $265,000.

Several other large investors have also added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Manhattan Associates by 10.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,792 shares of the software maker's stock valued at $755,000 after buying an additional 257 shares in the last quarter. UMB Bank n.a. raised its position in Manhattan Associates by 90.8% in the 1st quarter. UMB Bank n.a. now owns 603 shares of the software maker's stock worth $104,000 after buying an additional 287 shares during the last quarter. Farther Finance Advisors LLC raised its position in Manhattan Associates by 67.5% in the 1st quarter. Farther Finance Advisors LLC now owns 2,597 shares of the software maker's stock worth $454,000 after buying an additional 1,047 shares during the last quarter. Pallas Capital Advisors LLC purchased a new stake in shares of Manhattan Associates during the 1st quarter valued at about $708,000. Finally, SG Americas Securities LLC increased its position 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 valued at $1,318,000 after purchasing an additional 6,835 shares during the last quarter. Institutional investors own 98.45% of the company's stock.

Analyst Ratings Changes

MANH has been the subject of several analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Manhattan Associates in a report on Wednesday. Raymond James Financial increased their target price on Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. DA Davidson increased their price target on Manhattan Associates from $225.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Stifel Nicolaus initiated coverage on Manhattan Associates in a report on Tuesday. They set a "buy" rating and a $250.00 price target on the stock. Finally, Barclays started coverage on Manhattan Associates in a research report on Tuesday. They set an "overweight" rating and a $247.00 target price for the company. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $222.45.

Insider Activity

In related news, Director Linda T. Hollembaek sold 2,024 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $221.53, for a total value of $448,376.72. Following the sale, the director owned 11,907 shares in the company, valued at approximately $2,637,757.71. The trade was a 14.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Eddie Capel sold 37,342 shares of the business's 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 completion of the sale, the chairman owned 162,988 shares in the company, valued at $36,212,673.84. This represents a 18.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,666 shares of company stock valued at $9,251,781 in the last quarter. Insiders own 0.88% of the company's stock.

Manhattan Associates Trading Up 5.0%

Shares of MANH stock opened at $208.90 on Thursday. The stock has a market cap of $12.63 billion, a P/E ratio of 58.35 and a beta of 1.12. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60. The stock has a 50 day moving average of $212.57 and a 200 day moving average of $195.28.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.19. The business had revenue of $272.42 million during 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 was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.18 earnings per share. 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 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.

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