1,217 Shares in Manhattan Associates, Inc. (NASDAQ:MANH) Purchased by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. has acquired a new stake in Manhattan Associates, Inc., purchasing 1,217 shares valued at approximately $211,000 in the first quarter.
• Several hedge funds, including Lazard Asset Management LLC and GAMMA Investing LLC, have significantly increased their holdings in Manhattan Associates, indicating strong institutional interest.
• Manhattan Associates reported a quarterly earnings per share of $1.31, outperforming analysts' expectations, with revenue of $272.42 million, up 2.7% from the previous year.

ASR Vermogensbeheer N.V. bought a new position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,217 shares of the software maker's stock, valued at approximately $211,000.

Other institutional investors have also made changes to their positions in the company. iA Global Asset Management Inc. raised its position in Manhattan Associates by 87.8% during the first quarter. iA Global Asset Management Inc. now owns 2,239 shares of the software maker's stock valued at $387,000 after buying an additional 1,047 shares during the period. Argent Trust Co grew its stake in Manhattan Associates by 92.3% during the 1st quarter. Argent Trust Co now owns 3,475 shares of the software maker's stock valued at $601,000 after acquiring an additional 1,668 shares in the last quarter. J. Safra Sarasin Holding AG grew its stake in Manhattan Associates by 24.3% during the 1st quarter. J. Safra Sarasin Holding AG now owns 4,837 shares of the software maker's stock valued at $837,000 after acquiring an additional 945 shares in the last quarter. Bank of Nova Scotia increased its holdings in shares of Manhattan Associates by 2,599.2% in the 1st quarter. Bank of Nova Scotia now owns 58,167 shares of the software maker's stock valued at $10,065,000 after purchasing an additional 56,012 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of Manhattan Associates by 95.6% in the first quarter. PNC Financial Services Group Inc. now owns 8,691 shares of the software maker's stock worth $1,504,000 after purchasing an additional 4,247 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MANH has been the topic of a number of research analyst reports. Redburn Atlantic downgraded shares of Manhattan Associates from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $270.00 to $200.00 in a research report on Tuesday, June 10th. Loop Capital lifted their target price on shares of Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a research note on Tuesday, July 22nd. Citigroup reaffirmed a "neutral" rating and issued a $200.00 price target (up from $177.00) on shares of Manhattan Associates in a research note on Wednesday, July 16th. DA Davidson increased their price objective on Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Truist Financial boosted their target price on Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $216.67.

Manhattan Associates Price Performance

Shares of MANH stock traded up $7.50 on Tuesday, hitting $212.75. The company's stock had a trading volume of 480,987 shares, compared to its average volume of 668,647. The stock has a market capitalization of $12.86 billion, a price-to-earnings ratio of 59.43 and a beta of 1.10. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60. The firm's fifty day moving average price is $201.98 and its 200-day moving average price is $188.35.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.19. The company 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%. The business's revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $1.18 earnings per share. Analysts predict that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.

Insider Buying and Selling

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

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.