Assenagon Asset Management S.A. Boosts Stock Position in Manhattan Associates, Inc. $MANH

Key Points

• Assenagon Asset Management dramatically increased its stake in Manhattan Associates, boosting holdings by 1,886.9% in Q1 to 116,113 shares worth about $15.5 million.
• Manhattan Associates reported better-than-expected quarterly results, with EPS of $1.24 versus $1.10 expected and revenue of $282.21 million, up 7.4% year over year.
• The company also announced a $500 million stock buyback, while analysts currently rate the stock a consensus Moderate Buy with an average price target of $199.45.

Assenagon Asset Management S.A. boosted its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 1,886.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 116,113 shares of the software maker's stock after acquiring an additional 110,269 shares during the quarter. Assenagon Asset Management S.A. owned 0.20% of Manhattan Associates worth $15,457,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Manhattan Associates during the 4th quarter worth $124,264,000. T. Rowe Price Investment Management Inc. boosted its position in Manhattan Associates by 35.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker's stock worth $447,182,000 after acquiring an additional 671,589 shares during the last quarter. Alliancebernstein L.P. grew its stake in Manhattan Associates by 22.7% during the 3rd quarter. Alliancebernstein L.P. now owns 2,801,901 shares of the software maker's stock valued at $574,334,000 after acquiring an additional 518,321 shares in the last quarter. Lazard Asset Management LLC grew its stake in Manhattan Associates by 76.4% during the 3rd quarter. Lazard Asset Management LLC now owns 707,742 shares of the software maker's stock valued at $145,073,000 after acquiring an additional 306,516 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in Manhattan Associates by 2,035.5% in the 3rd quarter. Captrust Financial Advisors now owns 303,268 shares of the software maker's stock valued at $62,164,000 after acquiring an additional 289,067 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Manhattan Associates Price Performance

Shares of NASDAQ:MANH opened at $137.85 on Friday. The firm has a market capitalization of $8.16 billion, a PE ratio of 38.61 and a beta of 0.97. The firm's 50-day moving average is $139.09 and its two-hundred day moving average is $147.97. Manhattan Associates, Inc. has a 1 year low of $119.06 and a 1 year high of $247.22.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The software maker reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.14. The business had revenue of $282.21 million during the quarter, compared to the consensus estimate of $273.70 million. Manhattan Associates had a return on equity of 78.13% and a net margin of 19.68%.The business's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.19 earnings per share. Manhattan Associates has set its FY 2026 guidance at 5.290-5.370 EPS. Analysts expect that Manhattan Associates, Inc. will post 3.68 EPS for the current fiscal year.

Manhattan Associates announced that its Board of Directors has approved a stock repurchase program on Thursday, March 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the software maker to purchase up to 5.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other news, EVP James Stewart Gantt sold 7,300 shares of Manhattan Associates stock in a transaction on Friday, April 24th. The shares were sold at an average price of $139.25, for a total value of $1,016,525.00. Following the transaction, the executive vice president directly owned 60,815 shares of the company's stock, valued at $8,468,488.75. The trade was a 10.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric Andrew Clark sold 1,000 shares of the company's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $146.77, for a total transaction of $146,770.00. Following the completion of the sale, the chief executive officer directly owned 92,638 shares of the company's stock, valued at $13,596,479.26. The trade was a 1.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.84% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MANH. Wall Street Zen raised Manhattan Associates from a "hold" rating to a "buy" rating in a research note on Saturday, June 20th. DA Davidson reaffirmed a "buy" rating and issued a $200.00 target price on shares of Manhattan Associates in a research note on Wednesday, May 20th. Weiss Ratings lowered Manhattan Associates from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, April 27th. Robert W. Baird boosted their price target on shares of Manhattan Associates from $183.00 to $186.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. Finally, Rothschild & Co Redburn set a $145.00 price objective on shares of Manhattan Associates in a report on Thursday, April 16th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $199.45.

About Manhattan Associates

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.

Want to see what other hedge funds are holding MANH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manhattan Associates, Inc. (NASDAQ:MANH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.