Manhattan Associates, Inc. $MANH Shares Sold by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd reduced its stake in Manhattan Associates, Inc. by 45.2%, holding only 3,218 shares worth $556,000 at the end of the quarter.
• An increasing number of institutional investors, including Lazard Asset Management and GAMMA Investing, have made significant adjustments to their positions in Manhattan Associates, indicating a growing interest in the stock.
• Analysts have varied opinions on Manhattan Associates, with price targets being set between $200 and $250, leading to an overall consensus of a "Hold" rating for the stock.

Gulf International Bank UK Ltd reduced its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 45.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,218 shares of the software maker's stock after selling 2,652 shares during the quarter. Gulf International Bank UK Ltd's holdings in Manhattan Associates were worth $556,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MANH. Central Pacific Bank Trust Division increased its position 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 in the last quarter. Park Square Financial Group LLC purchased a new stake in Manhattan Associates in the fourth quarter valued at approximately $38,000. Transce3nd LLC purchased a new stake in Manhattan Associates in the fourth quarter valued at approximately $41,000. Reyes Financial Architecture Inc. increased its holdings in Manhattan Associates by 42.5% in the 1st quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock worth $82,000 after buying an additional 142 shares during the period. Finally, Bayforest Capital Ltd raised its position in Manhattan Associates by 126.6% during the 1st quarter. Bayforest Capital Ltd now owns 494 shares of the software maker's stock worth $85,000 after buying an additional 276 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Insiders Place Their Bets

In other Manhattan Associates news, Director Linda T. Hollembaek sold 2,024 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $221.53, for a total transaction of $448,376.72. Following the completion of the transaction, the director owned 11,907 shares of the company's stock, valued at $2,637,757.71. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James Stewart Gantt sold 2,300 shares of the firm's 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 completion of the transaction, the executive vice president owned 48,660 shares in the company, valued at approximately $10,721,257.80. This trade represents a 4.51% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 41,666 shares of company stock worth $9,251,781. Corporate insiders own 0.88% of the company's stock.

Manhattan Associates Trading Up 2.6%

MANH traded up $5.60 during midday trading on Friday, hitting $218.01. 49,583 shares of the company traded hands, compared to its average volume of 794,637. The business has a 50 day simple moving average of $205.26 and a two-hundred day simple moving average of $187.59. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60. The company has a market capitalization of $13.18 billion, a price-to-earnings ratio of 61.02 and a beta of 1.10.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its earnings results on Tuesday, July 22nd. The software maker reported $1.31 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.19. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The business had revenue of $272.42 million during the quarter, compared to analysts' expectations of $263.62 million. During the same quarter in the previous year, the company earned $1.18 earnings per share. The company's quarterly revenue was up 2.7% on a year-over-year basis. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. Equities research analysts anticipate that Manhattan Associates, Inc. will post 3.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MANH shares. Raymond James Financial increased their price objective on shares of Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Robert W. Baird upped their price target on shares of Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Redburn Atlantic downgraded Manhattan Associates from a "buy" rating to a "neutral" rating and cut their price target for the stock from $270.00 to $200.00 in a research report on Tuesday, June 10th. Truist Financial raised their target price on Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Loop Capital boosted their price target on Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a report on Tuesday, July 22nd. Six 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, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $216.67.

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.