Corient Private Wealth LP Acquires New Position in Manhattan Associates, Inc. $MANH

Key Points

• Corient Private Wealth acquired 6,376 Manhattan Associates shares worth approximately $888,000 in the second quarter. Institutional investors and hedge funds collectively own 98.45% of the company.
• Manhattan Associates reported quarterly EPS of $1.39, exceeding estimates of $1.32, while revenue rose 9.3% year over year to $297.79 million. Analysts expect full-year EPS of approximately $3.87.
• The stock traded at $213.77, near its 12-month high, with a consensus “Moderate Buy” rating and an average price target of $213.40; however, company insiders sold $1.74 million of stock over the past 90 days.

Corient Private Wealth LP bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,376 shares of the software maker's stock, valued at approximately $888,000.

A number of other hedge funds also recently added to or reduced their stakes in MANH. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Manhattan Associates by 72.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,245 shares of the software maker's stock worth $2,124,000 after buying an additional 5,128 shares during the period. Goldman Sachs Group Inc. lifted its stake in Manhattan Associates by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 500,068 shares of the software maker's stock worth $86,532,000 after acquiring an additional 41,571 shares during the last quarter. Empowered Funds LLC purchased a new position in Manhattan Associates in the first quarter worth approximately $987,000. Focus Partners Wealth grew its holdings in Manhattan Associates by 181.4% during the 1st quarter. Focus Partners Wealth now owns 2,400 shares of the software maker's stock worth $415,000 after acquiring an additional 1,547 shares in the last quarter. Finally, Sivia Capital Partners LLC acquired a new position in Manhattan Associates during the 2nd quarter worth approximately $446,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $213.77 on Friday. Manhattan Associates, Inc. has a 12 month low of $119.06 and a 12 month high of $227.03. The business has a 50 day simple moving average of $182.70 and a 200-day simple moving average of $153.74. The stock has a market capitalization of $12.46 billion, a PE ratio of 61.25 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.32 by $0.07. The firm had revenue of $297.79 million for the quarter, compared to analyst estimates of $289.03 million. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. Manhattan Associates's quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the firm posted $1.31 EPS. As a group, equities research analysts anticipate that Manhattan Associates, Inc. will post 3.87 EPS for the current year.

Insider Buying and Selling at Manhattan Associates

In other news, CEO Eric Clark sold 3,000 shares of Manhattan Associates stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total value of $593,280.00. Following the sale, the chief executive officer owned 89,638 shares of the company's stock, valued at $17,726,810.88. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James Gantt sold 5,139 shares of the business's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the transaction, the executive vice president owned 55,676 shares in the company, valued at approximately $10,886,328.28. This trade represents a 8.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,139 shares of company stock valued at $1,744,879 in the last 90 days. Company insiders own 0.84% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MANH. Wall Street Zen lowered shares of Manhattan Associates from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. DA Davidson boosted their target price on shares of Manhattan Associates from $200.00 to $210.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Citigroup increased their target price on Manhattan Associates from $177.00 to $193.00 and gave the company a "buy" rating in a report on Tuesday, July 21st. Stifel Nicolaus raised their price target on Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. Finally, Robert W. Baird lifted their price target on Manhattan Associates from $218.00 to $260.00 and gave the stock an "outperform" rating in a report on Wednesday, August 26th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $213.40.

Manhattan Associates Company Profile

Manhattan Associates, Inc NASDAQ: MANH is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.

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