American Capital Management Inc. Takes $50.78 Million Position in Manhattan Associates, Inc. $MANH

Key Points

• American Capital Management initiated a $50.78 million position in Manhattan Associates by purchasing 364,696 shares, representing about 0.63% of the company and 2.3% of the fund’s portfolio. Institutional investors collectively own 98.45% of MANH.
• Manhattan Associates exceeded quarterly expectations, reporting $1.39 in EPS versus the $1.32 consensus and revenue of $297.79 million, up 9.3% year over year.
• Analyst sentiment remains positive overall, with eight Buy and three Hold ratings, an average “Moderate Buy” rating, and a consensus price target of $213.40. Shares recently opened at $215.89, near their one-year high of $220.31.

American Capital Management Inc. bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 364,696 shares of the software maker's stock, valued at approximately $50,784,000. Manhattan Associates comprises approximately 2.3% of American Capital Management Inc.'s portfolio, making the stock its 18th biggest position. American Capital Management Inc. owned approximately 0.63% of Manhattan Associates at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its holdings in Manhattan Associates by 448.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker's stock valued at $28,000 after buying an additional 112 shares during the period. Versant Capital Management Inc boosted its position in shares of Manhattan Associates by 508.9% in the 2nd quarter. Versant Capital Management Inc now owns 274 shares of the software maker's stock worth $38,000 after purchasing an additional 229 shares during the last quarter. BNP Paribas acquired a new stake in shares of Manhattan Associates during the fourth quarter worth $39,000. TD Private Client Wealth LLC grew its stake in shares of Manhattan Associates by 83.8% during the fourth quarter. TD Private Client Wealth LLC now owns 239 shares of the software maker's stock worth $41,000 after purchasing an additional 109 shares during the period. Finally, Leonteq Securities AG bought a new stake in Manhattan Associates in the fourth quarter valued at about $44,000. Institutional investors own 98.45% of the company's stock.

Insider Buying and Selling

In related news, EVP James Stewart Gantt sold 5,139 shares of the firm's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total value of $1,004,828.67. Following the completion of the transaction, the executive vice president directly owned 55,676 shares of the company's stock, valued at approximately $10,886,328.28. This trade represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric Andrew Clark sold 3,000 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total transaction of $593,280.00. Following the sale, the chief executive officer directly owned 89,638 shares in the company, valued at $17,726,810.88. This trade represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 9,139 shares of company stock valued at $1,744,879. Corporate insiders own 0.84% of the company's stock.

Analyst Upgrades and Downgrades

MANH has been the topic of a number of recent analyst reports. DA Davidson raised their target price on Manhattan Associates from $200.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. Weiss Ratings raised shares of Manhattan Associates from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, July 14th. Citigroup upped their target price on shares of Manhattan Associates from $177.00 to $193.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Barclays reduced their price target on shares of Manhattan Associates from $239.00 to $201.00 and set an "overweight" rating on the stock in a research report on Friday, May 29th. Finally, Wall Street Zen cut shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Manhattan Associates currently has an average rating of "Moderate Buy" and an average target price of $213.40.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock opened at $215.89 on Thursday. The firm has a market cap of $12.59 billion, a price-to-earnings ratio of 61.86 and a beta of 0.93. The stock's 50-day moving average is $170.31 and its 200-day moving average is $150.07. Manhattan Associates, Inc. has a one year low of $119.06 and a one year high of $220.31.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.07. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The company had revenue of $297.79 million during the quarter, compared to analysts' expectations of $289.03 million. During the same period last year, the business earned $1.31 EPS. The business's quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts expect that Manhattan Associates, Inc. will post 3.87 EPS for the current year.

About Manhattan Associates

Manhattan Associates, Inc NASDAQ: MANH is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.

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