Deutsche Bank AG Invests $3.11 Million in Manhattan Associates, Inc. $MANH

Key Points

• Deutsche Bank initiated a $3.11 million stake in Manhattan Associates by purchasing 22,333 shares during the second quarter. Institutional investors and hedge funds collectively own 98.45% of the company.
• Analyst sentiment remains positive, with eight Buy ratings and three Holds, producing a consensus rating of Moderate Buy and an average price target of $213.40. Citigroup and Stifel Nicolaus recently raised their targets to $193 and $225, respectively.
• Manhattan Associates exceeded quarterly expectations, reporting EPS of $1.39 versus the $1.32 consensus and revenue of $297.79 million, up 9.3% year over year. Meanwhile, company insiders sold 9,139 shares worth approximately $1.74 million over the past 90 days.

Deutsche Bank AG purchased a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 22,333 shares of the software maker's stock, valued at approximately $3,110,000.

Other large investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its stake in shares of Manhattan Associates by 448.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker's stock valued at $28,000 after acquiring an additional 112 shares during the period. BNP Paribas purchased a new position in shares of Manhattan Associates during the 4th quarter worth approximately $39,000. TD Private Client Wealth LLC increased its holdings in Manhattan Associates by 83.8% in the 4th quarter. TD Private Client Wealth LLC now owns 239 shares of the software maker's stock valued at $41,000 after purchasing an additional 109 shares during the last quarter. Leonteq Securities AG purchased a new stake in Manhattan Associates in the fourth quarter valued at approximately $44,000. Finally, Los Angeles Capital Management LLC purchased a new stake in Manhattan Associates in the fourth quarter valued at approximately $49,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MANH has been the subject of several research analyst reports. Weiss Ratings upgraded Manhattan Associates from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 14th. Wall Street Zen lowered Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Morgan Stanley set a $180.00 target price on Manhattan Associates in a research report on Wednesday, July 29th. Citigroup boosted their price target on shares of Manhattan Associates from $177.00 to $193.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Finally, Stifel Nicolaus raised their price objective on shares of Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $213.40.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH opened at $215.89 on Thursday. The stock's 50-day simple moving average is $170.31 and its 200-day simple moving average is $150.07. The firm has a market capitalization of $12.59 billion, a PE ratio of 61.86 and a beta of 0.93. Manhattan Associates, Inc. has a fifty-two week low of $119.06 and a fifty-two week high of $220.31.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.32 by $0.07. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The firm had revenue of $297.79 million during the quarter, compared to the consensus estimate of $289.03 million. During the same period in the prior year, the company posted $1.31 earnings per share. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts forecast that Manhattan Associates, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Manhattan Associates

In related news, CEO Eric Andrew Clark sold 3,000 shares of the business's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total value of $593,280.00. Following the completion of the sale, the chief executive officer directly 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 available at this hyperlink. Also, EVP James Stewart Gantt sold 5,139 shares of the company's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the completion of the transaction, the executive vice president owned 55,676 shares of the company's stock, valued at $10,886,328.28. This represents a 8.45% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 9,139 shares of company stock valued at $1,744,879. Company insiders own 0.84% of the company's stock.

About Manhattan Associates

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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