BI Asset Management Fondsmaeglerselskab A S Lowers Position in Manhattan Associates, Inc. $MANH

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in Manhattan Associates, Inc. by 43.2%, owning 1,673 shares worth $289,000 after selling 1,271 shares in Q1 2023.
• Manhattan Associates reported earnings of $1.31 EPS for the last quarter, exceeding expectations, with revenues reaching $272.42 million, a 2.7% increase from the previous year.
• Six analysts currently rate Manhattan Associates stock as a Moderate Buy, with a consensus price target of $216.67.

BI Asset Management Fondsmaeglerselskab A S reduced its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 43.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,673 shares of the software maker's stock after selling 1,271 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Manhattan Associates were worth $289,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Hsbc Holdings PLC increased its stake in Manhattan Associates by 3.3% during the 1st quarter. Hsbc Holdings PLC now owns 25,159 shares of the software maker's stock valued at $4,343,000 after purchasing an additional 810 shares in the last quarter. Quantbot Technologies LP bought a new stake in Manhattan Associates during the 1st quarter valued at about $7,150,000. Korea Investment CORP increased its stake in Manhattan Associates by 65.2% during the 1st quarter. Korea Investment CORP now owns 42,757 shares of the software maker's stock valued at $7,399,000 after purchasing an additional 16,879 shares in the last quarter. Northern Trust Corp increased its stake in Manhattan Associates by 6.3% during the 1st quarter. Northern Trust Corp now owns 809,894 shares of the software maker's stock valued at $140,144,000 after purchasing an additional 48,074 shares in the last quarter. Finally, Brooklyn Investment Group increased its stake in Manhattan Associates by 70.1% during the 1st quarter. Brooklyn Investment Group now owns 359 shares of the software maker's stock valued at $62,000 after purchasing an additional 148 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Chairman Eddie Capel sold 37,342 shares of the stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $222.18, for a total value of $8,296,645.56. Following the completion of the sale, the chairman directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James Stewart Gantt sold 2,300 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $220.33, for a total transaction of $506,759.00. Following the completion of the transaction, the executive vice president directly owned 48,660 shares in the company, valued at $10,721,257.80. This trade represents a 4.51% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,666 shares of company stock worth $9,251,781. Company insiders own 0.88% of the company's stock.

Manhattan Associates Stock Down 1.8%

MANH traded down $3.93 during trading on Friday, hitting $214.53. The company's stock had a trading volume of 42,953 shares, compared to its average volume of 785,265. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60. The firm has a market cap of $12.97 billion, a PE ratio of 59.94 and a beta of 1.10. The business's 50 day simple moving average is $207.92 and its 200-day simple moving average is $188.34.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its quarterly earnings results 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 business had revenue of $272.42 million for the quarter, compared to the consensus estimate of $263.62 million. During the same period last year, the firm earned $1.18 earnings per share. The company's quarterly 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. Equities research analysts expect that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MANH. Raymond James Financial raised their price objective on shares of Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Citigroup reissued a "neutral" rating and set a $200.00 price objective (up from $177.00) on shares of Manhattan Associates in a report on Wednesday, July 16th. Robert W. Baird boosted their price objective on shares of Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Loop Capital boosted their price objective on shares of Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a report on Tuesday, July 22nd. Finally, Truist Financial boosted their price objective on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $216.67.

Manhattan Associates 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.