Gateway Investment Advisers LLC Has $823,000 Stock Position in 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 position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 83.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,167 shares of the software maker's stock after acquiring 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 reporting period.

Other large investors have also recently bought and sold shares of the company. Park Square Financial Group LLC acquired a new position in Manhattan Associates during the 4th quarter valued at about $38,000. Central Pacific Bank Trust Division increased its stake in Manhattan Associates by 107.3% during the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock valued at $34,000 after buying an additional 103 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in Manhattan Associates by 117.0% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 230 shares of the software maker's stock valued at $45,000 after buying an additional 124 shares during the period. Brooklyn Investment Group increased its stake in Manhattan Associates by 70.1% during the 1st quarter. Brooklyn Investment Group now owns 359 shares of the software maker's stock valued at $62,000 after buying an additional 148 shares during the period. Finally, Reyes Financial Architecture Inc. increased its stake in Manhattan Associates by 42.5% during the 1st quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock valued at $82,000 after buying an additional 142 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Redburn Atlantic cut shares of Manhattan Associates from a "buy" rating to a "neutral" rating and lowered their target price for the company from $270.00 to $200.00 in a research note on Tuesday, June 10th. Loop Capital raised their price objective on shares of Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a research report on Tuesday, July 22nd. Citigroup restated a "neutral" rating and set a $200.00 price objective (up previously from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. DA Davidson raised their price objective 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. Finally, Morgan Stanley began coverage on shares of Manhattan Associates in a research report on Monday, July 14th. They set an "underweight" rating and a $190.00 price objective for the company. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Manhattan Associates has an average rating of "Moderate Buy" and a consensus target price of $216.67.

Manhattan Associates Price Performance

MANH traded down $0.57 during midday trading on Monday, hitting $217.14. 59,797 shares of the company's stock traded hands, compared to its average volume of 770,637. The company has a market cap of $13.13 billion, a PE ratio of 60.66 and a beta of 1.13. The stock's fifty day simple moving average is $213.50 and its 200-day simple moving average is $192.32. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60.

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 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 for the quarter, compared to analyst estimates of $263.62 million. During the same quarter last year, the firm earned $1.18 earnings per share. The company'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, research analysts expect that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

Insider Activity

In other news, EVP James Stewart Gantt sold 2,300 shares of Manhattan Associates stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $220.33, for a total value 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Eddie Capel sold 37,342 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, July 29th. The shares were 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 in the company, valued at approximately $36,212,673.84. This represents a 18.64% decrease in their position. 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 90 days. 0.72% of the stock is currently owned by company insiders.

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.