Manhattan Associates, Inc. $MANH Shares Purchased by Citigroup Inc.

Key Points

• Citigroup Inc. increased its stake in Manhattan Associates (NASDAQ:MANH) by 14.9% in Q1, owning 49,218 shares valued at approximately $8.52 million.
• An analyst consensus rates Manhattan Associates with an average of "Hold", while several firms have recently adjusted their price targets between $190.00 and $270.00.
• Insider activity includes Chairman Eddie Capel selling 37,342 shares and Director Linda T. Hollembaek selling 2,024 shares, reflecting significant decreases in their respective positions.

Citigroup Inc. grew its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 14.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,218 shares of the software maker's stock after purchasing an additional 6,370 shares during the quarter. Citigroup Inc. owned approximately 0.08% of Manhattan Associates worth $8,517,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in shares of Manhattan Associates by 40.7% in the 4th quarter. Barclays PLC now owns 99,259 shares of the software maker's stock valued at $26,824,000 after acquiring an additional 28,702 shares during the period. Jump Financial LLC acquired a new position in shares of Manhattan Associates in the 4th quarter valued at $687,000. Evergreen Capital Management LLC grew its position in Manhattan Associates by 6.7% in the 4th quarter. Evergreen Capital Management LLC now owns 1,858 shares of the software maker's stock valued at $502,000 after buying an additional 117 shares during the last quarter. NewEdge Advisors LLC grew its position in Manhattan Associates by 28.6% in the 4th quarter. NewEdge Advisors LLC now owns 1,938 shares of the software maker's stock valued at $524,000 after buying an additional 431 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Manhattan Associates in the 4th quarter valued at $816,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MANH shares. Loop Capital lifted their price objective on shares of Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a research report on Tuesday, July 22nd. Truist Financial lifted their price objective on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Redburn Atlantic lowered shares of Manhattan Associates from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $270.00 to $200.00 in a research report on Tuesday, June 10th. Morgan Stanley started coverage on shares of Manhattan Associates in a research report on Monday, July 14th. They issued an "underweight" rating and a $190.00 price objective on the stock. Finally, DA Davidson lifted their price objective on shares of Manhattan Associates from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average 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 business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total value of $448,376.72. Following the completion of the transaction, the director owned 11,907 shares of the company's stock, valued at approximately $2,637,757.71. The trade was a 14.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Eddie Capel sold 37,342 shares of the company's stock in a transaction dated 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 transaction, the chairman directly owned 162,988 shares of the company's stock, valued at approximately $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 quarter, insiders sold 41,666 shares of company stock valued at $9,251,781. 0.88% of the stock is owned by insiders.

Manhattan Associates Price Performance

Shares of NASDAQ MANH traded up $0.39 during trading on Thursday, hitting $212.41. 371,717 shares of the company were exchanged, compared to its average volume of 606,470. The company has a market cap of $12.84 billion, a price-to-earnings ratio of 59.33 and a beta of 1.10. Manhattan Associates, Inc. has a 1 year low of $140.81 and a 1 year high of $312.60. The firm's fifty day moving average price is $205.26 and its 200 day moving average price is $187.59.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 EPS 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 period in the previous year, the firm earned $1.18 EPS. The business's revenue for the quarter 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, research analysts forecast that Manhattan Associates, Inc. will post 3.3 earnings per share for the current year.

About Manhattan Associates

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.