Fred Alger Management LLC Sells 64,679 Shares of Manhattan Associates, Inc. $MANH

Key Points

• Fred Alger Management LLC reduced its stake in Manhattan Associates by 70.1%, now owning 27,628 shares worth approximately $4.78 million according to its latest SEC filing.
• Manhattan Associates reported a quarterly EPS of $1.31, exceeding expectations and generating $272.42 million in revenue, marking a 2.7% increase year-over-year.
• Equity analysts have raised target prices for Manhattan Associates, with recommendations ranging from "Buy" to "Outperform," reflecting a consensus price target of approximately $216.67.

Fred Alger Management LLC lowered its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 70.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,628 shares of the software maker's stock after selling 64,679 shares during the period. Fred Alger Management LLC's holdings in Manhattan Associates were worth $4,781,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MANH. Central Pacific Bank Trust Division lifted its stake in shares of Manhattan Associates by 107.3% in the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock valued at $34,000 after purchasing an additional 103 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in shares of Manhattan Associates in the 4th quarter valued at $38,000. Brooklyn Investment Group lifted its stake in shares of Manhattan Associates by 70.1% in the 1st quarter. Brooklyn Investment Group now owns 359 shares of the software maker's stock valued at $62,000 after purchasing an additional 148 shares during the last quarter. Reyes Financial Architecture Inc. lifted its stake in shares of Manhattan Associates by 42.5% in the 1st quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock valued at $82,000 after purchasing an additional 142 shares during the last quarter. Finally, Bayforest Capital Ltd lifted its stake in shares of Manhattan Associates by 126.6% in the 1st quarter. Bayforest Capital Ltd now owns 494 shares of the software maker's stock valued at $85,000 after purchasing an additional 276 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MANH shares. Morgan Stanley started coverage on shares of Manhattan Associates in a research note on Monday, July 14th. They issued an "underweight" rating and a $190.00 price objective for the company. Raymond James Financial lifted their price objective on shares of Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a research note 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 stock an "outperform" rating in a report on Wednesday, July 16th. DA Davidson lifted their target price on shares of Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Citigroup reiterated a "neutral" rating and issued a $200.00 target price (up previously from $177.00) on shares of Manhattan Associates in a report on Wednesday, July 16th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $216.67.

Insider Buying and Selling

In related news, Director Linda T. Hollembaek sold 2,024 shares of Manhattan Associates stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $221.53, for a total transaction of $448,376.72. Following the sale, the director directly owned 11,907 shares of the company's stock, valued at $2,637,757.71. This trade represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James Stewart Gantt sold 2,300 shares of Manhattan Associates stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $220.33, for a total value of $506,759.00. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 41,666 shares of company stock valued at $9,251,781 over the last three months. 0.88% of the stock is owned by corporate insiders.

Manhattan Associates Trading Down 1.3%

MANH stock traded down $2.76 during trading on Monday, reaching $213.34. 104,285 shares of the stock were exchanged, compared to its average volume of 767,916. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60. The company has a market capitalization of $12.90 billion, a P/E ratio of 59.60 and a beta of 1.13. The stock has a 50 day simple moving average of $212.02 and a 200-day simple moving average of $190.84.

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 for the quarter, topping analysts' consensus estimates of $1.12 by $0.19. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%.The business had revenue of $272.42 million for the quarter, compared to the consensus estimate of $263.62 million. During the same period last year, the business earned $1.18 earnings per share. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. Equities analysts predict that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

Manhattan Associates 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.