Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 1,200 Shares of Manhattan Associates, Inc. $MANH

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Manhattan Associates by 6.7% during the first quarter, owning a total of 19,076 shares worth approximately $3.3 million.
• Institutional investors hold 98.45% of Manhattan Associates' shares, with significant increases in stakes from Russell Investments Group (up 75.4%) and Nuveen LLC (new position worth $40.17 million) during the same period.
• Manhattan Associates reported $1.31 earnings per share for the last quarter, exceeding analysts' estimates, while the stock currently has a consensus rating of "Hold" with a target price of $216.67.

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 6.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,076 shares of the software maker's stock after acquiring an additional 1,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Manhattan Associates were worth $3,301,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. DAVENPORT & Co LLC purchased a new stake in Manhattan Associates during the first quarter valued at $214,000. Allianz Asset Management GmbH increased its position in Manhattan Associates by 18.9% during the first quarter. Allianz Asset Management GmbH now owns 143,687 shares of the software maker's stock valued at $24,864,000 after acquiring an additional 22,845 shares during the last quarter. SG Americas Securities LLC increased its position in Manhattan Associates by 876.3% during the first quarter. SG Americas Securities LLC now owns 7,615 shares of the software maker's stock valued at $1,318,000 after acquiring an additional 6,835 shares during the last quarter. Abacus FCF Advisors LLC increased its position in Manhattan Associates by 170.0% during the first quarter. Abacus FCF Advisors LLC now owns 32,865 shares of the software maker's stock valued at $5,687,000 after acquiring an additional 20,691 shares during the last quarter. Finally, Merit Financial Group LLC increased its position in Manhattan Associates by 165.1% during the first quarter. Merit Financial Group LLC now owns 4,279 shares of the software maker's stock valued at $740,000 after acquiring an additional 2,665 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Insider Buying and Selling

In related news, Chairman Eddie Capel sold 37,342 shares of the stock in a transaction that occurred 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 transaction, the chairman directly owned 162,988 shares of the company's stock, valued at approximately $36,212,673.84. This represents a 18.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Linda T. Hollembaek sold 2,024 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total value of $448,376.72. Following the transaction, the director directly owned 11,907 shares of the company's stock, valued at approximately $2,637,757.71. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,666 shares of company stock worth $9,251,781. 0.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Raymond James Financial upped their price objective on Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Robert W. Baird upped their price target on Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Citigroup restated a "neutral" rating and issued a $200.00 price target (up previously from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Redburn Atlantic cut Manhattan Associates from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $270.00 to $200.00 in a research report on Tuesday, June 10th. Finally, Truist Financial upped their price target on Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Manhattan Associates has an average rating of "Moderate Buy" and an average price target of $216.67.

Manhattan Associates Price Performance

Shares of NASDAQ:MANH traded down $3.53 during trading on Wednesday, hitting $212.02. 562,016 shares of the company's stock were exchanged, compared to its average volume of 801,697. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60. The business's 50-day simple moving average is $204.42 and its 200 day simple moving average is $187.33. The company has a market cap of $12.82 billion, a price-to-earnings ratio of 59.22 and a beta of 1.10.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.19. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%.The firm had revenue of $272.42 million during the quarter, compared to analysts' expectations of $263.62 million. During the same quarter last year, the business posted $1.18 earnings per share. The firm's revenue 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, sell-side analysts anticipate that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal 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.