Canada Pension Plan Investment Board Takes $9.71 Million Position in Manhattan Associates, Inc. $MANH

Key Points

• The Canada Pension Plan Investment Board has acquired a stake in Manhattan Associates, purchasing 56,100 shares valued at approximately $9.7 million.
• Several institutional investors have increased their holdings in Manhattan Associates, with notable increases from Northern Trust Corp (+6.3%) and RGM Capital LLC (+77.0%) in the first quarter.
• Equities research analysts have mixed ratings for Manhattan Associates, with six analysts classifying the stock as a Buy and an average target price increasing to $216.67.

Canada Pension Plan Investment Board purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 56,100 shares of the software maker's stock, valued at approximately $9,708,000. Canada Pension Plan Investment Board owned approximately 0.09% of Manhattan Associates as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Park Square Financial Group LLC acquired a new stake in shares of Manhattan Associates in the 4th quarter worth approximately $38,000. Central Pacific Bank Trust Division increased its stake in shares of Manhattan Associates by 107.3% during the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock worth $34,000 after purchasing an additional 103 shares in the last quarter. Brooklyn Investment Group increased its stake in shares of Manhattan Associates by 70.1% during the 1st quarter. Brooklyn Investment Group now owns 359 shares of the software maker's stock worth $62,000 after purchasing an additional 148 shares in the last quarter. Reyes Financial Architecture Inc. increased its stake in shares of Manhattan Associates by 42.5% during the 1st quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock worth $82,000 after purchasing an additional 142 shares in the last quarter. Finally, Bayforest Capital Ltd increased its stake in shares of Manhattan Associates by 126.6% during the 1st quarter. Bayforest Capital Ltd now owns 494 shares of the software maker's stock worth $85,000 after purchasing an additional 276 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Insider Buying and Selling

In related news, EVP James Stewart Gantt sold 2,300 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $220.33, for a total transaction of $506,759.00. Following the completion of the sale, the executive vice president directly owned 48,660 shares of the company's stock, valued at approximately $10,721,257.80. This represents a 4.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Eddie Capel sold 37,342 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $222.18, for a total transaction of $8,296,645.56. Following the completion of the transaction, the chairman owned 162,988 shares in the company, valued at $36,212,673.84. This represents a 18.64% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 41,666 shares of company stock valued at $9,251,781. Company insiders own 0.88% of the company's stock.

Manhattan Associates Stock Performance

Manhattan Associates stock traded up $5.45 during trading on Friday, reaching $215.31. 394,168 shares of the company's stock were exchanged, compared to its average volume of 458,152. The company's 50-day moving average is $210.25 and its two-hundred day moving average is $189.47. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60. The firm has a market cap of $13.02 billion, a price-to-earnings ratio of 60.14 and a beta of 1.13.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.19. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The firm had revenue of $272.42 million during the quarter, compared to analysts' expectations of $263.62 million. During the same period in the prior year, the company earned $1.18 EPS. The firm'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. Analysts anticipate that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MANH. Morgan Stanley began coverage on shares of Manhattan Associates in a research note on Monday, July 14th. They set an "underweight" rating and a $190.00 price objective for the company. Truist Financial raised their price objective on shares of Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Robert W. Baird raised their price objective on shares of Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Redburn Atlantic cut shares of Manhattan Associates from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $270.00 to $200.00 in a research note on Tuesday, June 10th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $200.00 price objective (up previously from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.