Equitable Trust Co. Buys New Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Key Points

• Equitable Trust Co. acquired 1,173 shares of Manhattan Associates, Inc., valued at approximately $203,000, marking its first investment in the company during the 1st quarter.
• Several large institutional investors significantly increased their holdings in Manhattan Associates in the 4th quarter, including Massachusetts Financial Services, which raised its stake by 101.1%.
• Manhattan Associates reported $1.31 EPS for the last quarter, exceeding analyst expectations and showing a 2.7% increase in revenue year-over-year.

Equitable Trust Co. bought a new position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,173 shares of the software maker's stock, valued at approximately $203,000.

A number of other institutional investors have also recently made changes to their positions in MANH. Central Pacific Bank Trust Division boosted its holdings 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 valued at $34,000 after acquiring an additional 103 shares during the last quarter. Park Square Financial Group LLC bought a new stake in Manhattan Associates in the 4th quarter worth approximately $38,000. Transce3nd LLC purchased a new stake in Manhattan Associates during the 4th quarter valued at $41,000. Reyes Financial Architecture Inc. lifted its holdings 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 valued at $82,000 after buying an additional 142 shares during the period. Finally, Harbor Investment Advisory LLC grew its holdings in shares of Manhattan Associates by 57.7% in the first quarter. Harbor Investment Advisory LLC now owns 552 shares of the software maker's stock worth $96,000 after acquiring an additional 202 shares during the period. Hedge funds and other institutional investors own 98.45% of the company's stock.

Insider Activity

In other news, EVP James Stewart Gantt sold 2,300 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 48,660 shares in the company, valued at approximately $10,721,257.80. This trade represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.88% of the company's stock.

Analyst Ratings Changes

MANH has been the subject of several analyst reports. Morgan Stanley initiated coverage on Manhattan Associates in a research note on Monday, July 14th. They issued an "underweight" rating and a $190.00 price objective for the company. Loop Capital upped their price target on Manhattan Associates from $170.00 to $200.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. Citigroup reaffirmed a "neutral" rating and set a $200.00 price objective (up from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Redburn Atlantic lowered shares of Manhattan Associates from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $270.00 to $200.00 in a report on Tuesday, June 10th. Finally, DA Davidson lifted their price target on shares of Manhattan Associates from $225.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $216.67.

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock traded down $4.06 on Thursday, reaching $223.88. The company had a trading volume of 159,952 shares, compared to its average volume of 827,416. The firm has a market cap of $13.54 billion, a PE ratio of 62.54 and a beta of 1.08. The firm's 50 day moving average price is $197.31 and its two-hundred day moving average price is $192.92. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share 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 firm had revenue of $272.42 million for the quarter, compared to the consensus estimate of $263.62 million. During the same period in the prior year, the firm earned $1.18 EPS. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. As a group, sell-side analysts predict that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

Manhattan Associates Company 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.