Bank of America Corp DE Has $67.21 Million Stock Position in Manhattan Associates, Inc. $MANH

Key Points

• Bank of America increased its Manhattan Associates stake by 25.8% in the first quarter, bringing its holdings to 504,871 shares valued at approximately $67.2 million. Institutional investors collectively own 98.45% of the company.
• Manhattan Associates exceeded quarterly expectations, reporting EPS of $1.39 versus the $1.32 consensus and revenue of $297.79 million, up 9.3% year over year.
• Analysts maintain a generally positive outlook, with eight Buy ratings and three Holds and a consensus price target of $209.20. Meanwhile, company executives sold shares, including EVP James Stewart Gantt’s approximately $1.0 million transaction.

Bank of America Corp DE raised its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 25.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 504,871 shares of the software maker's stock after acquiring an additional 103,620 shares during the quarter. Bank of America Corp DE owned approximately 0.85% of Manhattan Associates worth $67,208,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in MANH. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Manhattan Associates by 72.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,245 shares of the software maker's stock valued at $2,124,000 after acquiring an additional 5,128 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Manhattan Associates by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 500,068 shares of the software maker's stock worth $86,532,000 after purchasing an additional 41,571 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Manhattan Associates during the 1st quarter worth approximately $987,000. Focus Partners Wealth raised its stake in shares of Manhattan Associates by 181.4% during the 1st quarter. Focus Partners Wealth now owns 2,400 shares of the software maker's stock worth $415,000 after purchasing an additional 1,547 shares in the last quarter. Finally, Sivia Capital Partners LLC bought a new stake in shares of Manhattan Associates during the 2nd quarter worth approximately $446,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Insider Activity at Manhattan Associates

In related news, EVP James Stewart Gantt sold 5,139 shares of the company's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the completion of the sale, the executive vice president owned 55,676 shares of the company's stock, valued at $10,886,328.28. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Eric Andrew Clark sold 1,000 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $146.77, for a total transaction of $146,770.00. Following the sale, the chief executive officer owned 92,638 shares in the company, 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. Insiders own 0.84% of the company's stock.

Manhattan Associates Stock Up 0.2%

Manhattan Associates stock opened at $195.69 on Tuesday. The company's 50-day moving average price is $156.05 and its two-hundred day moving average price is $146.08. The stock has a market cap of $11.41 billion, a P/E ratio of 56.07 and a beta of 0.93. Manhattan Associates, Inc. has a twelve month low of $119.06 and a twelve month high of $220.72.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.32 by $0.07. The company had revenue of $297.79 million during the quarter, compared to analysts' expectations of $289.03 million. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The business's revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.31 earnings per share. Equities analysts anticipate that Manhattan Associates, Inc. will post 3.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MANH. Weiss Ratings raised shares of Manhattan Associates from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, July 14th. Robert W. Baird upped their price target on shares of Manhattan Associates from $186.00 to $218.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. Barclays cut their price target on shares of Manhattan Associates from $239.00 to $201.00 and set an "overweight" rating for the company in a research note on Friday, May 29th. Citigroup lifted their price objective on shares of Manhattan Associates from $177.00 to $193.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. Finally, DA Davidson boosted their price objective on shares of Manhattan Associates from $200.00 to $210.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Manhattan Associates has an average rating of "Moderate Buy" and a consensus target price of $209.20.

Manhattan Associates Profile

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.

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