Exchange Traded Concepts LLC Lowers Stake in Manhattan Associates, Inc. $MANH

Key Points

• Exchange Traded Concepts LLC reduced its stake in Manhattan Associates, Inc. by 15.8% during the second quarter, owning approximately $13.95 million of the company's stock after selling 13,254 shares.
• Other institutional investors, such as Swedbank AB and UBS AM, significantly increased their holdings in Manhattan Associates, with Swedbank raising its position by 50% and UBS AM by 101.7% during their respective reporting periods.
• Analysts have mixed views on the stock, with six giving it a Buy rating, three a Hold, and one a Sell, while new target prices range from $200 to $250.

Exchange Traded Concepts LLC reduced its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 15.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 70,632 shares of the software maker's stock after selling 13,254 shares during the period. Exchange Traded Concepts LLC owned approximately 0.12% of Manhattan Associates worth $13,948,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Cordatus Wealth Management LLC grew its position in Manhattan Associates by 4.9% during the 1st quarter. Cordatus Wealth Management LLC now owns 1,229 shares of the software maker's stock worth $213,000 after purchasing an additional 57 shares during the last quarter. Credit Agricole S A lifted its stake in shares of Manhattan Associates by 1.3% in the 1st quarter. Credit Agricole S A now owns 4,858 shares of the software maker's stock worth $841,000 after acquiring an additional 64 shares during the period. Linden Thomas Advisory Services LLC lifted its stake in shares of Manhattan Associates by 1.1% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 6,552 shares of the software maker's stock worth $1,134,000 after acquiring an additional 73 shares during the period. Signaturefd LLC lifted its stake in shares of Manhattan Associates by 6.9% in the 1st quarter. Signaturefd LLC now owns 1,285 shares of the software maker's stock worth $222,000 after acquiring an additional 83 shares during the period. Finally, Fifth Third Bancorp lifted its stake in shares of Manhattan Associates by 14.6% in the 1st quarter. Fifth Third Bancorp now owns 691 shares of the software maker's stock worth $120,000 after acquiring an additional 88 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Stock Down 0.1%

Shares of NASDAQ MANH traded down $0.15 during midday trading on Friday, hitting $217.71. The company had a trading volume of 2,440,695 shares, compared to its average volume of 456,228. The business has a 50-day simple moving average of $213.50 and a two-hundred day simple moving average of $192.03. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60. The firm has a market capitalization of $13.16 billion, a price-to-earnings ratio of 60.81 and a beta of 1.13.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $263.62 million. During the same period last year, the firm posted $1.18 EPS. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. On average, equities analysts forecast that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, Director Linda T. Hollembaek sold 2,024 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total transaction of $448,376.72. Following the completion of the transaction, the director directly owned 11,907 shares in the company, valued at approximately $2,637,757.71. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP James Stewart Gantt sold 2,300 shares of the firm's stock in a transaction dated 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 owned 48,660 shares of the company's stock, valued at $10,721,257.80. This trade represents a 4.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 41,666 shares of company stock worth $9,251,781. 0.88% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MANH has been the subject of several recent analyst reports. Robert W. Baird raised their target price on shares of Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Raymond James Financial raised their target price on shares of Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. DA Davidson raised their target price on shares of Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Morgan Stanley initiated coverage on shares of Manhattan Associates in a research note on Monday, July 14th. They issued an "underweight" rating and a $190.00 target price for the company. Finally, Redburn Atlantic cut 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 research note on Tuesday, June 10th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $216.67.

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.