Bank of New York Mellon Corp Sells 24,393 Shares of Manhattan Associates, Inc. $MANH

Key Points

• Bank of New York Mellon reduced its stake in Manhattan Associates by 5.7% in the fourth quarter, selling 24,393 shares and leaving it with 406,770 shares valued at about $70.5 million.
• Other institutional investors were active in the stock, including Norges Bank starting a new position and several funds significantly increasing holdings; institutions now own 98.45% of Manhattan Associates.
• Manhattan Associates reported strong quarterly results, beating EPS and revenue estimates, and its board authorized a $500 million share buyback program. Analysts currently rate the stock a consensus Moderate Buy with an average target price of $199.45.

Bank of New York Mellon Corp lowered its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 5.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 406,770 shares of the software maker's stock after selling 24,393 shares during the quarter. Bank of New York Mellon Corp owned about 0.68% of Manhattan Associates worth $70,497,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of MANH. Norges Bank bought a new position in shares of Manhattan Associates during the 4th quarter valued at $124,264,000. Alliancebernstein L.P. grew its stake in Manhattan Associates by 22.7% in the 3rd quarter. Alliancebernstein L.P. now owns 2,801,901 shares of the software maker's stock valued at $574,334,000 after buying an additional 518,321 shares during the last quarter. Lazard Asset Management LLC grew its stake in Manhattan Associates by 76.4% in the 3rd quarter. Lazard Asset Management LLC now owns 707,742 shares of the software maker's stock valued at $145,073,000 after buying an additional 306,516 shares during the last quarter. Captrust Financial Advisors grew its stake 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 buying an additional 289,067 shares during the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in Manhattan Associates in the 2nd quarter valued at $49,204,000. Institutional investors own 98.45% of the company's stock.

Insider Transactions at Manhattan Associates

In related news, EVP James Stewart Gantt sold 7,300 shares of Manhattan Associates stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $139.25, for a total transaction of $1,016,525.00. Following the completion of the transaction, the executive vice president directly owned 60,815 shares of the company's stock, valued at $8,468,488.75. This trade represents a 10.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.84% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. William Blair reiterated an "outperform" rating on shares of Manhattan Associates in a research note on Thursday, March 5th. Weiss Ratings lowered shares of Manhattan Associates from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, April 27th. Stifel Nicolaus set a $200.00 price target on shares of Manhattan Associates in a research report on Wednesday, May 20th. Barclays decreased their price target on shares of Manhattan Associates from $239.00 to $201.00 and set an "overweight" rating on the stock in a research report on Friday, May 29th. Finally, Wall Street Zen lowered shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Saturday, May 23rd. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Manhattan Associates presently has a consensus rating of "Moderate Buy" and an average target price of $199.45.

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock opened at $146.54 on Wednesday. The firm's 50-day simple moving average is $137.79 and its 200-day simple moving average is $151.42. Manhattan Associates, Inc. has a twelve month low of $119.06 and a twelve month high of $247.22. The firm has a market cap of $8.67 billion, a P/E ratio of 41.05 and a beta of 0.97.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its earnings results on Tuesday, April 21st. The software maker reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.14. Manhattan Associates had a net margin of 19.68% and a return on equity of 78.13%. The business had revenue of $282.22 million for the quarter, compared to analyst estimates of $273.71 million. During the same period in the previous year, the business earned $1.19 EPS. The firm's revenue was up 7.4% on a year-over-year basis. Manhattan Associates has set its FY 2026 guidance at 5.290-5.370 EPS. On average, equities analysts forecast that Manhattan Associates, Inc. will post 3.68 earnings per share for the current fiscal year.

Manhattan Associates declared that its Board of Directors has authorized a share buyback program on Thursday, March 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the software maker to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Manhattan Associates Company 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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