Bayforest Capital Ltd grew its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 393.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,436 shares of the software maker's stock after purchasing an additional 1,942 shares during the period. Bayforest Capital Ltd's holdings in Manhattan Associates were worth $481,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the stock. DAVENPORT & Co LLC bought a new position in Manhattan Associates during the first quarter valued at about $214,000. Allianz Asset Management GmbH increased its position in shares of Manhattan Associates by 18.9% during the first quarter. Allianz Asset Management GmbH now owns 143,687 shares of the software maker's stock valued at $24,864,000 after purchasing an additional 22,845 shares during the period. SG Americas Securities LLC raised its stake in shares of Manhattan Associates by 876.3% in the first quarter. SG Americas Securities LLC now owns 7,615 shares of the software maker's stock valued at $1,318,000 after purchasing an additional 6,835 shares in the last quarter. IFM Investors Pty Ltd lifted its position in Manhattan Associates by 11.0% in the first quarter. IFM Investors Pty Ltd now owns 13,201 shares of the software maker's stock worth $2,284,000 after purchasing an additional 1,303 shares during the period. Finally, Bridges Investment Management Inc. lifted its position in Manhattan Associates by 111.3% in the first quarter. Bridges Investment Management Inc. now owns 4,353 shares of the software maker's stock worth $753,000 after purchasing an additional 2,293 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.
Insider Activity at Manhattan Associates
In related news, Director Linda T. Hollembaek sold 2,024 shares of Manhattan Associates stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $221.53, for a total value of $448,376.72. Following the completion of the transaction, the director directly owned 11,907 shares of the company's stock, valued at $2,637,757.71. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP James Stewart Gantt sold 2,300 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $220.33, for a total transaction of $506,759.00. Following the transaction, the executive vice president owned 48,660 shares in the company, valued at approximately $10,721,257.80. This trade represents a 4.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,666 shares of company stock valued at $9,251,781 in the last three months. Corporate insiders own 0.72% of the company's stock.
Analyst Ratings Changes
Several brokerages have issued reports on MANH. Barclays began coverage on shares of Manhattan Associates in a report on Tuesday, October 7th. They issued an "overweight" rating and a $247.00 price target on the stock. Stifel Nicolaus began coverage on shares of Manhattan Associates in a research note on Tuesday, October 7th. They issued a "buy" rating and a $250.00 target price on the stock. Loop Capital increased their price target on shares of Manhattan Associates from $170.00 to $200.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. Zacks Research downgraded Manhattan Associates from a "strong-buy" rating to a "hold" rating in a report on Monday, September 22nd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Manhattan Associates in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $222.91.
Check Out Our Latest Stock Report on Manhattan Associates
Manhattan Associates Stock Down 0.1%
NASDAQ:MANH opened at $200.53 on Wednesday. The firm has a market cap of $12.13 billion, a PE ratio of 56.01 and a beta of 1.12. Manhattan Associates, Inc. has a 12 month low of $140.81 and a 12 month high of $312.60. The company's 50-day moving average price is $211.24 and its two-hundred day moving average price is $196.09.
Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.19. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The company had revenue of $272.42 million during the quarter, compared to analyst estimates of $263.62 million. During the same quarter last year, the business posted $1.18 earnings per share. The company's revenue was up 2.7% on a year-over-year basis. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. On average, research analysts expect that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.
Manhattan Associates Company Profile
(
Free Report)
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.
Featured Stories
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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Manhattan Associates, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Manhattan Associates wasn't on the list.
While Manhattan Associates currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
