Callan Family Office LLC Buys 14,448 Shares of Manhattan Associates, Inc. $MANH

Key Points

• Callan Family Office LLC significantly increased its stake in Manhattan Associates, Inc. by 1,168.9%, acquiring an additional 14,448 shares during the second quarter, bringing their total to 15,684 shares valued at approximately $3.1 million.
• Manhattan Associates reported a quarterly earnings per share of $1.31, exceeding analyst expectations, with total revenue of $272.42 million, up 2.7% year-over-year.
• Several analysts have upgraded their ratings and target prices for Manhattan Associates, with Raymond James raising its target from $195.00 to $250.00, reinforcing positive market sentiment.

Callan Family Office LLC boosted its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 1,168.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,684 shares of the software maker's stock after acquiring an additional 14,448 shares during the quarter. Callan Family Office LLC's holdings in Manhattan Associates were worth $3,097,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Allegiance Financial Group Advisory Services LLC bought a new stake in Manhattan Associates during the 2nd quarter worth about $265,000. Carolina Wealth Advisors LLC grew its holdings in Manhattan Associates by 31.9% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 6,262 shares of the software maker's stock worth $1,237,000 after acquiring an additional 1,516 shares during the last quarter. Quent Capital LLC grew its holdings in Manhattan Associates by 3.5% during the 2nd quarter. Quent Capital LLC now owns 1,947 shares of the software maker's stock worth $384,000 after acquiring an additional 65 shares during the last quarter. 111 Capital bought a new stake in Manhattan Associates during the 2nd quarter worth about $437,000. Finally, Lecap Asset Management Ltd. bought a new stake in Manhattan Associates during the 2nd quarter worth about $1,943,000. Institutional investors own 98.45% of the company's stock.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $197.32 on Friday. The company's 50 day simple moving average is $211.90 and its 200 day simple moving average is $195.58. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60. The firm has a market capitalization of $11.93 billion, a price-to-earnings ratio of 55.12 and a beta of 1.12.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released 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 business had revenue of $272.42 million for the quarter, compared to analyst estimates of $263.62 million. During the same quarter last year, the firm earned $1.18 EPS. Manhattan Associates's quarterly 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. As a group, analysts predict that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Citigroup reaffirmed a "neutral" rating and issued a $200.00 target price (up previously from $177.00) on shares of Manhattan Associates in a research note on Wednesday, July 16th. Raymond James Financial raised their target price 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. Zacks Research lowered shares of Manhattan Associates from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 22nd. Barclays assumed coverage on shares of Manhattan Associates in a research note on Tuesday. They issued an "overweight" rating and a $247.00 target price on the stock. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Manhattan Associates in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $222.45.

Insider Buying and Selling

In other Manhattan Associates news, Chairman Eddie Capel sold 37,342 shares of the firm'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 transaction of $8,296,645.56. Following the sale, the chairman directly owned 162,988 shares in the company, valued at approximately $36,212,673.84. This trade represents a 18.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Linda T. Hollembaek sold 2,024 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at $2,637,757.71. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,666 shares of company stock valued at $9,251,781 in the last 90 days. 0.88% of the stock is owned by 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.

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