Entropy Technologies LP Invests $1.49 Million in Manhattan Associates, Inc. (NASDAQ:MANH)

Key Points

• Entropy Technologies LP has invested approximately $1.49 million in Manhattan Associates, acquiring 8,581 shares during the first quarter of 2024.
• Manhattan Associates reported $1.31 earnings per share, exceeding analyst estimates and showcasing a revenue of $272.42 million for the quarter.
• In recent analyst ratings, several firms have adjusted their price targets for Manhattan Associates, with a consensus price target of $216.67 and a mix of buy, hold, and sell ratings.

Entropy Technologies LP bought a new position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm bought 8,581 shares of the software maker's stock, valued at approximately $1,485,000.

Other institutional investors also recently bought and sold shares of the company. Central Pacific Bank Trust Division lifted its stake in Manhattan Associates by 107.3% during the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock valued at $34,000 after acquiring an additional 103 shares during the period. Park Square Financial Group LLC acquired a new stake in Manhattan Associates during the 4th quarter valued at approximately $38,000. Transce3nd LLC acquired a new stake in Manhattan Associates during the 4th quarter valued at approximately $41,000. Reyes Financial Architecture Inc. lifted its stake in Manhattan Associates by 42.5% during the 1st quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock valued at $82,000 after acquiring an additional 142 shares during the period. Finally, Bayforest Capital Ltd lifted its stake in Manhattan Associates by 126.6% during the 1st quarter. Bayforest Capital Ltd now owns 494 shares of the software maker's stock valued at $85,000 after acquiring an additional 276 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP James Stewart Gantt sold 2,300 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $220.33, for a total value of $506,759.00. Following the completion of the sale, the executive vice president owned 48,660 shares of the company's stock, valued at approximately $10,721,257.80. The trade was a 4.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 sale, the chairman directly owned 162,988 shares of the company's stock, valued at approximately $36,212,673.84. The trade was 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 corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on MANH shares. 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 note on Wednesday, July 23rd. Truist Financial lifted their target price on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Robert W. Baird lifted their target price on shares of Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Raymond James Financial lifted their target price on shares of Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Finally, Loop Capital lifted their target price on shares of Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a report on Tuesday, July 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $216.67.

Manhattan Associates Price Performance

NASDAQ MANH traded down $0.39 on Friday, hitting $214.81. The company had a trading volume of 104,664 shares, compared to its average volume of 805,880. The company has a market capitalization of $12.99 billion, a PE ratio of 60.15 and a beta of 1.10. The company's fifty day moving average price is $203.07 and its 200-day moving average price is $188.07. Manhattan Associates, Inc. has a 12-month low of $140.81 and a 12-month high of $312.60.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.31 EPS for the quarter, topping the consensus estimate of $1.12 by $0.19. The company had revenue of $272.42 million during the quarter, compared to analyst estimates of $263.62 million. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The firm's revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.18 EPS. On average, sell-side analysts anticipate that Manhattan Associates, Inc. will post 3.3 EPS 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.