Manhattan Associates, Inc. $MANH Shares Sold by Fred Alger Management LLC

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 decreased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 70.1% in the first quarter, according to its most recent Form 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 quarter. 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 and hedge funds have also recently modified their holdings of MANH. Central Pacific Bank Trust Division raised its position in Manhattan Associates by 107.3% during the first 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 in the last quarter. Park Square Financial Group LLC purchased a new position in Manhattan Associates during the fourth quarter valued at approximately $38,000. Brooklyn Investment Group raised its position in Manhattan Associates by 70.1% during the first quarter. Brooklyn Investment Group now owns 359 shares of the software maker's stock valued at $62,000 after acquiring an additional 148 shares in the last quarter. Reyes Financial Architecture Inc. raised its position in Manhattan Associates by 42.5% during the first 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 in the last quarter. Finally, Bayforest Capital Ltd raised its position in Manhattan Associates by 126.6% during the first quarter. Bayforest Capital Ltd now owns 494 shares of the software maker's stock valued at $85,000 after acquiring an additional 276 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Manhattan Associates Trading Down 1.4%

MANH traded down $3.16 during trading on Friday, hitting $216.10. The company's stock had a trading volume of 435,532 shares, compared to its average volume of 452,648. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60. The business's fifty day simple moving average is $212.02 and its 200 day simple moving average is $190.64. The firm has a market capitalization of $13.07 billion, a price-to-earnings ratio of 60.36 and a beta of 1.13.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 EPS for the quarter, beating the consensus estimate of $1.12 by $0.19. The company had revenue of $272.42 million for the quarter, compared to analyst estimates of $263.62 million. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%.Manhattan Associates's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $1.18 earnings per share. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. As a group, equities research analysts forecast that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MANH has been the subject of several recent research reports. DA Davidson lifted their price target on Manhattan Associates from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Robert W. Baird lifted their price target on Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating 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 company from $270.00 to $200.00 in a research report on Tuesday, June 10th. Citigroup reiterated a "neutral" rating and set a $200.00 price target (up from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Finally, Truist Financial raised their price objective on Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $216.67.

Insider Transactions at Manhattan Associates

In other news, Chairman Eddie Capel sold 37,342 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $222.18, for a total value of $8,296,645.56. Following the sale, the chairman directly owned 162,988 shares of the company's stock, valued at $36,212,673.84. The trade was a 18.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James Stewart Gantt sold 2,300 shares of Manhattan Associates stock in a transaction that occurred on Friday, July 25th. The stock was 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 directly owned 48,660 shares in the company, valued at $10,721,257.80. This represents a 4.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,666 shares of company stock valued at $9,251,781 over the last ninety days. Insiders own 0.88% of the company's stock.

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.