AQR Capital Management LLC Has $116.87 Million Stock Holdings in Manhattan Associates, Inc. $MANH

Key Points

• AQR Capital Management LLC increased its stake in Manhattan Associates, Inc. by 103.0% during the 1st quarter, owning approximately 1.13% of the company, valued at $116.87 million.
• Several institutional investors have also significantly raised their holdings in Manhattan Associates, with Lazard Asset Management growing its stake by 2,075.5% in the fourth quarter.
• Manhattan Associates reported earnings of $1.31 per share, exceeding estimates and showing 2.7% year-over-year revenue growth, with a current market cap of $12.69 billion.

AQR Capital Management LLC increased its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 103.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 684,663 shares of the software maker's stock after purchasing an additional 347,358 shares during the period. AQR Capital Management LLC owned approximately 1.13% of Manhattan Associates worth $116,872,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Park Square Financial Group LLC acquired a new position in shares of Manhattan Associates during the 4th quarter worth about $38,000. Central Pacific Bank Trust Division increased its stake in Manhattan Associates by 107.3% during the first quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock valued at $34,000 after acquiring an additional 103 shares during the period. Brooklyn Investment Group increased its stake in Manhattan Associates by 70.1% during the first quarter. Brooklyn Investment Group now owns 359 shares of the software maker's stock valued at $62,000 after acquiring an additional 148 shares during the period. Reyes Financial Architecture Inc. increased its stake in Manhattan Associates by 42.5% during the first quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock valued at $82,000 after acquiring an additional 142 shares during the period. Finally, Bayforest Capital Ltd increased its stake in Manhattan Associates by 126.6% during the first quarter. Bayforest Capital Ltd now owns 494 shares of the software maker's stock valued at $85,000 after acquiring an additional 276 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

Insider Buying and Selling

In related news, Director Linda T. Hollembaek sold 2,024 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $221.53, for a total transaction of $448,376.72. Following the sale, the director directly owned 11,907 shares in the company, valued at $2,637,757.71. This represents a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Stewart Gantt sold 2,300 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $220.33, for a total value of $506,759.00. Following the sale, the executive vice president owned 48,660 shares in the company, valued at approximately $10,721,257.80. This trade represents a 4.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,666 shares of company stock worth $9,251,781 in the last three months. Insiders own 0.72% of the company's stock.

Manhattan Associates Trading Down 1.1%

NASDAQ MANH traded down $2.27 during trading hours on Wednesday, reaching $213.35. 93,830 shares of the company's stock were exchanged, compared to its average volume of 772,778. The stock has a market cap of $12.90 billion, a PE ratio of 59.58 and a beta of 1.13. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60. The firm has a fifty day moving average of $211.04 and a 200-day moving average of $189.93.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.31 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.19. The business had revenue of $272.42 million for the quarter, compared to analyst estimates of $263.62 million. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%.Manhattan Associates's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.18 EPS. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. As a group, research analysts forecast that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

Analysts Set New Price Targets

MANH has been the topic of several research reports. Truist Financial boosted their price target on Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. DA Davidson boosted their price target on Manhattan Associates from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Citigroup reiterated a "neutral" rating and issued a $200.00 price objective (up from $177.00) on shares of Manhattan Associates in a research note on Wednesday, July 16th. Robert W. Baird upped their price objective on Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Finally, Raymond James Financial upped their price objective on Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Manhattan Associates presently has an average rating of "Moderate Buy" and an average target price of $216.67.

Manhattan Associates Company 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.