Alliancebernstein L.P. Reduces Position in Manhattan Associates, Inc. $MANH

Key Points

• Alliancebernstein L.P. has decreased its stake in Manhattan Associates, Inc. by 35.9%, now owning approximately 2.25 million shares valued at $389 million as of the latest filing.
• Other institutional investors increased their holdings, with Lazard Asset Management raising its position by 2,075.5%, now owning 399,066 shares, valued at over $107 million.
• Manhattan Associates reported a 20.91% net margin and exceeded revenue expectations with $272.42 million for the last quarter, alongside an earnings per share of $1.31.

Alliancebernstein L.P. cut its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 35.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,249,375 shares of the software maker's stock after selling 1,260,654 shares during the quarter. Alliancebernstein L.P. owned 3.70% of Manhattan Associates worth $389,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC raised its stake in shares of Manhattan Associates by 103.0% during the first quarter. AQR Capital Management LLC now owns 684,663 shares of the software maker's stock valued at $116,872,000 after acquiring an additional 347,358 shares during the last quarter. Advisors Asset Management Inc. raised its position in Manhattan Associates by 5.8% during the 1st quarter. Advisors Asset Management Inc. now owns 5,356 shares of the software maker's stock valued at $927,000 after purchasing an additional 294 shares during the last quarter. Amundi lifted its holdings in Manhattan Associates by 42.8% in the 1st quarter. Amundi now owns 154,772 shares of the software maker's stock worth $25,036,000 after buying an additional 46,395 shares during the period. PDT Partners LLC bought a new stake in shares of Manhattan Associates in the 1st quarter worth approximately $1,690,000. Finally, Focus Partners Advisor Solutions LLC purchased a new position in shares of Manhattan Associates during the first quarter valued at approximately $363,000. 98.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on MANH. Robert W. Baird lifted their price target 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. Truist Financial upped their target price on shares of Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. DA Davidson boosted their price objective on shares of Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Citigroup reaffirmed a "neutral" rating and set a $200.00 target price (up previously from $177.00) on shares of Manhattan Associates in a research note on Wednesday, July 16th. Finally, Redburn Atlantic cut Manhattan Associates from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $270.00 to $200.00 in a research report on Tuesday, June 10th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Manhattan Associates presently has a consensus rating of "Moderate Buy" and a consensus price target of $216.67.

Insider Buying and Selling

In other news, Chairman Eddie Capel sold 37,342 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $222.18, for a total value of $8,296,645.56. Following the transaction, the chairman directly owned 162,988 shares in the company, valued at $36,212,673.84. This trade represents a 18.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Linda T. Hollembaek sold 2,024 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were 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 of the company's stock, valued at approximately $2,637,757.71. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,666 shares of company stock worth $9,251,781. 0.88% of the stock is owned by insiders.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock traded down $5.39 during trading on Tuesday, hitting $213.95. 200,314 shares of the company's stock traded hands, compared to its average volume of 774,772. Manhattan Associates, Inc. has a 1 year low of $140.81 and a 1 year high of $312.60. The business has a 50-day simple moving average of $210.69 and a 200-day simple moving average of $189.75. The stock has a market capitalization of $12.94 billion, a P/E ratio of 59.76 and a beta of 1.13.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted 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. 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 analysts' expectations of $263.62 million. During the same quarter in the prior year, the business earned $1.18 EPS. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. On average, equities analysts predict that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

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.