Cadent Capital Advisors LLC Makes New $265,000 Investment in Manhattan Associates, Inc. $MANH

Key Points

• Cadent Capital Advisors made a new investment of approximately $265,000 in Manhattan Associates, acquiring 1,340 shares during the second quarter.
• Multiple institutional investors, including Swedbank AB and AQR Capital Management LLC, have significantly increased their holdings in Manhattan Associates, reflecting a trend of increased institutional investment.
• Analysts have varying ratings for Manhattan Associates, with a consensus price target of $216.67 and recent changes including an upgrade from Raymond James Financial to an "outperform" rating with a target of $250.00.

Cadent Capital Advisors LLC acquired a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,340 shares of the software maker's stock, valued at approximately $265,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Swedbank AB lifted its position in Manhattan Associates by 50.0% in the second quarter. Swedbank AB now owns 1,199,969 shares of the software maker's stock worth $236,958,000 after buying an additional 399,969 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Manhattan Associates by 101.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,100,410 shares of the software maker's stock worth $190,415,000 after acquiring an additional 554,840 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Manhattan Associates by 6.3% in the 1st quarter. Northern Trust Corp now owns 809,894 shares of the software maker's stock worth $140,144,000 after acquiring an additional 48,074 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Manhattan Associates by 103.0% during the 1st quarter. AQR Capital Management LLC now owns 684,663 shares of the software maker's stock worth $116,872,000 after purchasing an additional 347,358 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Manhattan Associates by 1,214.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 606,038 shares of the software maker's stock valued at $104,869,000 after purchasing an additional 559,923 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Morgan Stanley began coverage on Manhattan Associates in a research report on Monday, July 14th. They set an "underweight" rating and a $190.00 target price for the company. Redburn Atlantic cut Manhattan Associates from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $270.00 to $200.00 in a report on Tuesday, June 10th. Raymond James Financial increased their target price on Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Citigroup reissued a "neutral" rating and set a $200.00 target price (up from $177.00) on shares of Manhattan Associates in a research note on Wednesday, July 16th. Finally, Zacks Research cut shares of Manhattan Associates from a "strong-buy" rating to a "hold" rating in a report on Monday. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Manhattan Associates has an average rating of "Hold" and a consensus price target of $216.67.

Manhattan Associates Trading Down 1.3%

Shares of Manhattan Associates stock opened at $209.70 on Friday. The stock's fifty day moving average price is $214.57 and its 200-day moving average price is $193.23. The firm has a market cap of $12.68 billion, a P/E ratio of 58.58 and a beta of 1.13. Manhattan Associates, Inc. has a 12 month low of $140.81 and a 12 month high of $312.60.

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

Insider Buying and Selling

In related news, Chairman Eddie Capel sold 37,342 shares of the business's stock in a transaction that occurred 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 transaction, the chairman owned 162,988 shares of the company's stock, valued at $36,212,673.84. The trade was a 18.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP James Stewart Gantt sold 2,300 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $220.33, for a total value of $506,759.00. Following the sale, 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. Insiders sold 41,666 shares of company stock valued at $9,251,781 over the last 90 days. Corporate insiders own 0.88% of the company's stock.

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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