Caisse DE Depot ET Placement DU Quebec Boosts Stake in Manhattan Associates, Inc. $MANH

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its holdings in Manhattan Associates, Inc. by 35.9%, owning approximately 0.48% of the company valued at $50 million after acquiring an additional 76,352 shares in Q1.
• Recent analysts' ratings for Manhattan Associates show a mix of opinions, with six analysts rating it a "Buy", while the consensus price target increased to $216.67.
• Insider trading activity includes a significant sale by Chairman Eddie Capel, who sold 37,342 shares for over $8.2 million, which reflects a decrease in his ownership of the company's stock.

Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 35.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 289,229 shares of the software maker's stock after acquiring an additional 76,352 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned about 0.48% of Manhattan Associates worth $50,048,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Virtus Advisers LLC bought a new position in shares of Manhattan Associates during the 1st quarter valued at approximately $99,000. Thematics Asset Management grew its stake in shares of Manhattan Associates by 15.3% during the 1st quarter. Thematics Asset Management now owns 109,238 shares of the software maker's stock valued at $18,903,000 after acquiring an additional 14,508 shares during the period. Synovus Financial Corp bought a new position in shares of Manhattan Associates during the 1st quarter valued at approximately $468,000. Jump Financial LLC grew its stake in shares of Manhattan Associates by 1,750.1% during the 1st quarter. Jump Financial LLC now owns 47,012 shares of the software maker's stock valued at $8,135,000 after acquiring an additional 44,471 shares during the period. Finally, AlphaQuest LLC grew its stake in shares of Manhattan Associates by 274.3% during the 1st quarter. AlphaQuest LLC now owns 2,534 shares of the software maker's stock valued at $438,000 after acquiring an additional 1,857 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Trading Down 0.2%

Shares of MANH traded down $0.45 during midday trading on Thursday, reaching $218.46. 516,498 shares of the stock were exchanged, compared to its average volume of 499,973. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60. The company's 50 day moving average is $207.92 and its two-hundred day moving average is $188.34. The company has a market capitalization of $13.21 billion, a P/E ratio of 61.02 and a beta of 1.10.

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

Analyst Ratings Changes

MANH has been the topic of a number of research analyst reports. Redburn Atlantic cut Manhattan Associates from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $270.00 to $200.00 in a report on Tuesday, June 10th. Citigroup reiterated a "neutral" rating and set a $200.00 price objective (up previously from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Robert W. Baird increased their price target on Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Truist Financial increased their price target on Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, DA Davidson increased their price target on Manhattan Associates from $225.00 to $250.00 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, Manhattan Associates has a consensus rating of "Moderate Buy" and an average target price of $216.67.

Insider Activity at Manhattan Associates

In related news, Director Linda T. Hollembaek sold 2,024 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $221.53, for a total transaction of $448,376.72. Following the sale, the director owned 11,907 shares of the company's stock, valued at $2,637,757.71. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James Stewart Gantt sold 2,300 shares of the firm's stock in a transaction dated 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 approximately $10,721,257.80. The trade was a 4.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,666 shares of company stock valued at $9,251,781 over the last quarter. 0.88% of the stock is owned by corporate insiders.

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.