Amundi Has $53.50 Million Stake in Manhattan Associates, Inc. $MANH

Key Points

• Amundi cut its Manhattan Associates stake by 15.4% in the second quarter, selling 69,874 shares and retaining 384,221 shares valued at approximately $53.5 million. Institutional investors collectively own 98.45% of the company.
• Analysts remain broadly positive, with eight Buy ratings and three Holds. Manhattan Associates has a consensus “Moderate Buy” rating and an average price target of $217.20.
• The company exceeded quarterly expectations, reporting $1.39 in EPS on $297.79 million in revenue, with revenue up 9.3% year over year; however, executives including the CEO and EVP sold shares during the period.

Amundi reduced its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 15.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 384,221 shares of the software maker's stock after selling 69,874 shares during the period. Amundi owned approximately 0.66% of Manhattan Associates worth $53,503,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC lifted its stake in shares of Manhattan Associates by 3.3% in the second quarter. NewEdge Advisors LLC now owns 1,852 shares of the software maker's stock valued at $366,000 after buying an additional 59 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Manhattan Associates by 2.6% during the third quarter. Tower Research Capital LLC TRC now owns 2,708 shares of the software maker's stock worth $555,000 after acquiring an additional 69 shares in the last quarter. Covestor Ltd increased its position in shares of Manhattan Associates by 12.2% during the fourth quarter. Covestor Ltd now owns 670 shares of the software maker's stock worth $116,000 after acquiring an additional 73 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Manhattan Associates by 1.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 6,369 shares of the software maker's stock worth $1,104,000 after acquiring an additional 80 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in shares of Manhattan Associates by 35.9% in the 1st quarter. V Square Quantitative Management LLC now owns 348 shares of the software maker's stock worth $46,000 after acquiring an additional 92 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on MANH. DA Davidson boosted their price objective 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 upgraded Manhattan Associates from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, July 14th. Barclays lifted their target price on Manhattan Associates from $201.00 to $239.00 and gave the company an "overweight" rating in a research report on Tuesday. Morgan Stanley set a $180.00 price target on Manhattan Associates in a report on Wednesday, July 29th. Finally, Stifel Nicolaus increased their price target on Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Manhattan Associates has a consensus rating of "Moderate Buy" and an average target price of $217.20.

Insiders Place Their Bets

In other news, CEO Eric Clark sold 3,000 shares of the 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 completion of the transaction, the chief executive officer owned 89,638 shares in the company, valued at approximately $17,726,810.88. This represents a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James Gantt sold 5,139 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $195.53, for a total value of $1,004,828.67. Following the transaction, the executive vice president owned 55,676 shares of the company's stock, valued at $10,886,328.28. The trade was a 8.45% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.84% of the company's stock.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $205.02 on Friday. The firm has a market cap of $11.95 billion, a price-to-earnings ratio of 58.74 and a beta of 0.95. Manhattan Associates, Inc. has a 52 week low of $119.06 and a 52 week high of $227.03. The firm's 50-day simple moving average is $187.86 and its two-hundred day simple moving average is $155.67.

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

About Manhattan Associates

Manhattan Associates, Inc is a technology company that develops cloud-based software for supply chain, inventory, and omnichannel commerce operations. Its solutions help businesses manage the movement of goods from suppliers and distribution centers to stores and customers, while improving visibility, efficiency, and service.

The company's product portfolio includes Manhattan Active Warehouse Management, Manhattan Active Transportation Management, Manhattan Active Order Management, supply chain planning, inventory optimization, labor management, and customer engagement applications.

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