Geode Capital Management LLC Acquires 88,005 Shares of Manhattan Associates, Inc. $MANH

Key Points

• Geode Capital Management boosted its Manhattan Associates stake by 5.3% in the fourth quarter, buying 88,005 shares and bringing its total holdings to 1,753,909 shares worth about $305.2 million.
• Several other institutional investors also raised their positions, and 98.45% of the stock is owned by institutions, highlighting strong professional ownership of the shares.
• Manhattan Associates reported better-than-expected quarterly results with $1.24 EPS on $282.22 million in revenue, while analysts keep a Moderate Buy consensus with a $199.45 price target despite some recent cuts.

Geode Capital Management LLC increased its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,753,909 shares of the software maker's stock after purchasing an additional 88,005 shares during the quarter. Geode Capital Management LLC owned 2.93% of Manhattan Associates worth $305,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MANH. Alliancebernstein L.P. lifted its holdings in shares of Manhattan Associates by 22.7% during the third quarter. Alliancebernstein L.P. now owns 2,801,901 shares of the software maker's stock valued at $574,334,000 after purchasing an additional 518,321 shares in the last quarter. Lazard Asset Management LLC increased its position in Manhattan Associates by 76.4% during the third quarter. Lazard Asset Management LLC now owns 707,742 shares of the software maker's stock valued at $145,073,000 after acquiring an additional 306,516 shares during the last quarter. Captrust Financial Advisors increased its position in Manhattan Associates by 2,035.5% during the third quarter. Captrust Financial Advisors now owns 303,268 shares of the software maker's stock valued at $62,164,000 after acquiring an additional 289,067 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in Manhattan Associates during the second quarter valued at $49,204,000. Finally, American Century Companies Inc. increased its position in Manhattan Associates by 27.7% during the third quarter. American Century Companies Inc. now owns 701,769 shares of the software maker's stock valued at $143,849,000 after acquiring an additional 152,348 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Insider Buying and Selling at Manhattan Associates

In related news, EVP James Stewart Gantt sold 7,300 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $139.25, for a total transaction of $1,016,525.00. Following the completion of the transaction, the executive vice president directly owned 60,815 shares of the company's stock, valued at approximately $8,468,488.75. This represents a 10.72% 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. 0.84% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on MANH shares. Citigroup reduced their price objective on Manhattan Associates from $208.00 to $177.00 and set a "buy" rating for the company in a research report on Wednesday, April 22nd. Rothschild & Co Redburn set a $145.00 price objective on Manhattan Associates in a research report on Thursday, April 16th. Robert W. Baird upped their price objective on Manhattan Associates from $183.00 to $186.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. William Blair reiterated an "outperform" rating on shares of Manhattan Associates in a research report on Thursday, March 5th. Finally, Wall Street Zen cut Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Saturday, May 23rd. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $199.45.

Manhattan Associates Stock Up 7.4%

Shares of MANH opened at $161.12 on Tuesday. The business has a 50-day simple moving average of $135.82 and a two-hundred day simple moving average of $152.46. The stock has a market cap of $9.53 billion, a price-to-earnings ratio of 45.13 and a beta of 0.97. Manhattan Associates, Inc. has a 52 week low of $119.06 and a 52 week high of $247.22.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The software maker reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.14. The business had revenue of $282.22 million during the quarter, compared to analysts' expectations of $273.71 million. Manhattan Associates had a return on equity of 78.13% and a net margin of 19.68%.The business's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.19 earnings per share. Manhattan Associates has set its FY 2026 guidance at 5.290-5.370 EPS. On average, equities analysts anticipate that Manhattan Associates, Inc. will post 3.75 earnings per share for the current fiscal year.

Manhattan Associates declared that its Board of Directors has approved a share repurchase plan on Thursday, March 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the software maker to repurchase up to 5.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

Manhattan Associates Company Profile

Manhattan Associates, Inc NASDAQ: MANH is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.

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