American Capital Management Inc. Trims Holdings in Manhattan Associates, Inc. $MANH

Key Points

• American Capital Management reduced its Manhattan Associates stake by 2.5% in the first quarter, selling 9,053 shares and retaining 357,807 shares valued at approximately $47.6 million. The stock represents about 2.6% of the firm’s portfolio.
• Institutional ownership remains very high at 98.45%, with Goldman Sachs and several other investment firms increasing their positions during the period.
• Manhattan Associates shares opened at $159.29, while analysts maintain a “Moderate Buy” consensus and an average price target of $201, implying potential upside from current levels.

American Capital Management Inc. lowered its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 2.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 357,807 shares of the software maker's stock after selling 9,053 shares during the quarter. Manhattan Associates makes up about 2.6% of American Capital Management Inc.'s investment portfolio, making the stock its 16th largest holding. American Capital Management Inc. owned approximately 0.60% of Manhattan Associates worth $47,631,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Manhattan Associates by 72.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,245 shares of the software maker's stock worth $2,124,000 after acquiring an additional 5,128 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Manhattan Associates by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 500,068 shares of the software maker's stock valued at $86,532,000 after purchasing an additional 41,571 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Manhattan Associates in the 1st quarter valued at about $987,000. Focus Partners Wealth lifted its position in shares of Manhattan Associates by 181.4% during the first quarter. Focus Partners Wealth now owns 2,400 shares of the software maker's stock worth $415,000 after purchasing an additional 1,547 shares during the last quarter. Finally, Sivia Capital Partners LLC bought a new position in shares of Manhattan Associates during the second quarter worth about $446,000. Institutional investors own 98.45% of the company's stock.

Manhattan Associates Stock Performance

NASDAQ MANH opened at $159.29 on Tuesday. Manhattan Associates, Inc. has a one year low of $119.06 and a one year high of $229.57. The company has a 50-day simple moving average of $146.29 and a 200-day simple moving average of $144.87. The firm has a market capitalization of $9.43 billion, a PE ratio of 44.62 and a beta of 0.97.

Wall Street Analyst Weigh In

A number of research firms recently commented on MANH. Robert W. Baird lifted their price target on Manhattan Associates from $183.00 to $186.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. Barclays reduced their target price on Manhattan Associates from $239.00 to $201.00 and set an "overweight" rating on the stock in a report on Friday, May 29th. Rothschild & Co Redburn set a $145.00 target price on Manhattan Associates in a research report on Thursday, April 16th. DA Davidson reiterated a "buy" rating and issued a $200.00 price target on shares of Manhattan Associates in a report on Wednesday, May 20th. Finally, Weiss Ratings raised Manhattan Associates from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 14th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Manhattan Associates presently has a consensus rating of "Moderate Buy" and a consensus target price of $201.00.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, CEO Eric Andrew Clark sold 1,000 shares of the firm's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $146.77, for a total value of $146,770.00. Following the transaction, the chief executive officer owned 92,638 shares of the company's stock, valued at $13,596,479.26. This trade represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.84% of the stock is owned by corporate insiders.

Manhattan Associates Profile

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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