Gateway Investment Advisers LLC Buys 1,892 Shares of Manhattan Associates, Inc. $MANH

Key Points

• Gateway Investment Advisers LLC significantly increased its stake in Manhattan Associates, raising its holdings by 83.2% to a total of 4,167 shares valued at $823,000 after purchasing an additional 1,892 shares in the second quarter.
• Several equity analysts have issued varied ratings on the stock, with the average price target currently at $216.67, indicating a consensus rating of "Moderate Buy".
• Despite strong quarterly earnings results, where Manhattan Associates reported $1.31 EPS—beating estimates of $1.12—insider selling has raised some concerns, with notable sales by Chairman Eddie Capel and Director Linda T. Hollembaek.

Gateway Investment Advisers LLC increased its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 83.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,167 shares of the software maker's stock after buying an additional 1,892 shares during the period. Gateway Investment Advisers LLC's holdings in Manhattan Associates were worth $823,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other Manhattan Associates news, Chairman Eddie Capel sold 37,342 shares of the stock in a transaction dated 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 completion of the sale, the chairman directly owned 162,988 shares in the company, valued at $36,212,673.84. This represents a 18.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Linda T. Hollembaek sold 2,024 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $221.53, for a total value of $448,376.72. Following the sale, the director directly owned 11,907 shares in the company, valued at approximately $2,637,757.71. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,666 shares of company stock valued at $9,251,781. 0.72% of the stock is owned by company insiders.

Manhattan Associates Trading Down 0.9%

Shares of NASDAQ:MANH traded down $1.91 during mid-day trading on Monday, reaching $215.80. The stock had a trading volume of 392,008 shares, compared to its average volume of 557,170. The firm has a 50 day simple moving average of $213.86 and a two-hundred day simple moving average of $192.64. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60. The firm has a market cap of $13.05 billion, a PE ratio of 60.28 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.19. The firm had revenue of $272.42 million during the quarter, compared to analysts' expectations of $263.62 million. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The business's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.18 earnings per share. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. On average, equities analysts anticipate that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Redburn Atlantic lowered Manhattan Associates from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $270.00 to $200.00 in a research report on Tuesday, June 10th. Raymond James Financial upped their price target on Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Citigroup reiterated a "neutral" rating and issued a $200.00 price objective (up from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Morgan Stanley started coverage on Manhattan Associates in a report on Monday, July 14th. They set an "underweight" rating and a $190.00 price objective for the company. Finally, DA Davidson upped their target price on shares of Manhattan Associates from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.