Assenagon Asset Management S.A. Sells 74,760 Shares of Manhattan Associates, Inc. $MANH

Key Points

• Assenagon Asset Management S.A. significantly reduced its stake in Manhattan Associates by 76%, selling 74,760 shares and leaving it with 23,599 shares valued at approximately $4.66 million.
• Manhattan Associates reported better-than-expected earnings of $1.31 EPS for the last quarter, exceeding estimates by $0.19, along with a revenue of $272.42 million.
• Despite recent insider selling, analysts have issued a mix of ratings on the stock, with target prices ranging from $200 to $250, indicating varying outlooks on its performance.

Assenagon Asset Management S.A. decreased its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 76.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,599 shares of the software maker's stock after selling 74,760 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Manhattan Associates were worth $4,660,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Park Square Financial Group LLC acquired a new stake in Manhattan Associates in the 4th quarter worth approximately $38,000. Central Pacific Bank Trust Division lifted its holdings in Manhattan Associates by 107.3% in the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock worth $34,000 after purchasing an additional 103 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Manhattan Associates by 117.0% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 230 shares of the software maker's stock worth $45,000 after purchasing an additional 124 shares during the last quarter. Brooklyn Investment Group lifted its holdings in Manhattan Associates by 70.1% in the 1st quarter. Brooklyn Investment Group now owns 359 shares of the software maker's stock worth $62,000 after purchasing an additional 148 shares during the last quarter. Finally, Reyes Financial Architecture Inc. lifted its holdings in Manhattan Associates by 42.5% in the 1st quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock worth $82,000 after purchasing an additional 142 shares during the last quarter. Institutional investors own 98.45% of the company's stock.

Manhattan Associates Price Performance

Shares of MANH stock opened at $212.45 on Thursday. The stock has a market cap of $12.85 billion, a P/E ratio of 59.34 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 stock has a fifty day moving average price of $214.46 and a 200 day moving average price of $192.92.

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

Insider Buying and Selling

In other Manhattan Associates news, Director Linda T. Hollembaek sold 2,024 shares of the stock in a transaction 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 completion of the transaction, the director directly owned 11,907 shares in the company, valued at $2,637,757.71. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Eddie Capel sold 37,342 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $222.18, for a total value of $8,296,645.56. Following the transaction, the chairman owned 162,988 shares of the company's stock, valued at $36,212,673.84. This represents a 18.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,666 shares of company stock valued at $9,251,781 over the last ninety days. 0.88% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MANH has been the subject of several analyst reports. DA Davidson boosted their target price on Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Robert W. Baird boosted their target price on Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Loop Capital boosted their target price on Manhattan Associates from $170.00 to $200.00 and gave the stock a "hold" rating in a report on Tuesday, July 22nd. Citigroup reiterated a "neutral" rating and set a $200.00 price target (up from $177.00) on shares of Manhattan Associates in a report on Wednesday, July 16th. Finally, Zacks Research downgraded shares of Manhattan Associates from a "strong-buy" rating to a "hold" rating in a research note on Monday. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" 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.

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