Manhattan Associates, Inc. $MANH Shares Purchased by AQR Capital Management LLC

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

Several other large investors have also recently made changes to their positions in MANH. Algert Global LLC acquired a new position in shares of Manhattan Associates in the 4th quarter worth approximately $248,000. Captrust Financial Advisors lifted its holdings in Manhattan Associates by 26.5% during the 4th quarter. Captrust Financial Advisors now owns 6,194 shares of the software maker's stock worth $1,674,000 after buying an additional 1,297 shares in the last quarter. BOKF NA lifted its holdings in Manhattan Associates by 0.4% during the 4th quarter. BOKF NA now owns 13,271 shares of the software maker's stock worth $3,522,000 after buying an additional 55 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Manhattan Associates by 38.6% during the 4th quarter. Cetera Investment Advisers now owns 5,902 shares of the software maker's stock worth $1,595,000 after buying an additional 1,645 shares in the last quarter. Finally, Crestline Management LP acquired a new stake in Manhattan Associates during the 4th quarter worth approximately $1,193,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 2,300 shares of the firm's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $220.33, for a total value of $506,759.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $8,296,645.56. Following the completion of the sale, the chairman owned 162,988 shares of the company's stock, valued at $36,212,673.84. This trade represents a 18.64% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,666 shares of company stock valued at $9,251,781. Insiders own 0.88% of the company's stock.

Analysts Set New Price Targets

MANH has been the topic of a number of research reports. Raymond James Financial increased their target price on shares of Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Citigroup reiterated a "neutral" rating and set a $200.00 target price (up from $177.00) on shares of Manhattan Associates in a report on Wednesday, July 16th. Loop Capital raised their price objective on shares of Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a report on Tuesday, July 22nd. Morgan Stanley began coverage on shares of Manhattan Associates in a report on Monday, July 14th. They issued an "underweight" rating and a $190.00 price objective on the stock. Finally, Redburn Atlantic lowered shares of Manhattan Associates from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $270.00 to $200.00 in a report on Tuesday, June 10th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Manhattan Associates presently has a consensus rating of "Moderate Buy" and an average target price of $216.67.

Manhattan Associates Trading Down 1.7%

Shares of NASDAQ MANH traded down $3.72 during mid-day trading on Tuesday, reaching $215.61. The company had a trading volume of 536,606 shares, compared to its average volume of 776,789. The firm has a 50 day simple moving average of $210.69 and a two-hundred day simple moving average of $189.75. The stock has a market cap of $13.04 billion, a P/E ratio of 60.23 and a beta of 1.13. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60.

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

Manhattan Associates 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.