HB Wealth Management LLC Increases Position in Manhattan Associates, Inc. $MANH

Key Points

• HB Wealth Management LLC has increased its stake in Manhattan Associates, Inc. by 13.9%, owning a total of 14,158 shares valued at approximately $2.8 million as reported in the latest SEC filing.
• Manhattan Associates recently reported $1.31 EPS for the quarter, exceeding estimates of $1.12, alongside revenue of $272.42 million, which was also above expectations.
• Several analysts have raised their price targets for Manhattan Associates, with the average target now at $216.67, reflecting a general optimism about the company's growth prospects.

HB Wealth Management LLC increased its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 13.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,158 shares of the software maker's stock after purchasing an additional 1,728 shares during the quarter. HB Wealth Management LLC's holdings in Manhattan Associates were worth $2,796,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MANH. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Manhattan Associates by 10.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,792 shares of the software maker's stock valued at $755,000 after purchasing an additional 257 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Manhattan Associates by 10,499.0% in the 1st quarter. GAMMA Investing LLC now owns 176,155 shares of the software maker's stock valued at $30,482,000 after purchasing an additional 174,493 shares in the last quarter. Harbor Investment Advisory LLC increased its holdings in shares of Manhattan Associates by 57.7% in the 1st quarter. Harbor Investment Advisory LLC now owns 552 shares of the software maker's stock valued at $96,000 after purchasing an additional 202 shares in the last quarter. Merit Financial Group LLC increased its holdings in shares of Manhattan Associates by 165.1% in the 1st quarter. Merit Financial Group LLC now owns 4,279 shares of the software maker's stock valued at $740,000 after purchasing an additional 2,665 shares in the last quarter. Finally, Lifestyle Asset Management Inc. increased its holdings in shares of Manhattan Associates by 69.4% in the 1st quarter. Lifestyle Asset Management Inc. now owns 5,631 shares of the software maker's stock valued at $974,000 after purchasing an additional 2,307 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $199.57 on Thursday. Manhattan Associates, Inc. has a 12-month low of $140.81 and a 12-month high of $312.60. The stock has a market capitalization of $12.07 billion, a P/E ratio of 55.75 and a beta of 1.12. The firm's 50-day moving average is $214.60 and its two-hundred day moving average is $194.28.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share (EPS) for the quarter, topping 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 company had revenue of $272.42 million for the quarter, compared to analysts' expectations of $263.62 million. During the same period last year, the company earned $1.18 EPS. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. As a group, analysts forecast that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

Insiders Place Their Bets

In related news, 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 sale, the executive vice president directly owned 48,660 shares of the company's stock, valued at approximately $10,721,257.80. This trade represents a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Linda T. Hollembaek sold 2,024 shares of the firm's 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 sale, the director directly owned 11,907 shares in the company, valued at $2,637,757.71. This represents a 14.53% 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 in the last ninety days. Insiders own 0.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MANH shares. Robert W. Baird increased 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. DA Davidson increased their price objective on shares of Manhattan Associates from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Redburn Atlantic cut shares of Manhattan Associates from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $270.00 to $200.00 in a research note on Tuesday, June 10th. Truist Financial increased their price objective on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Raymond James Financial increased their price objective on shares of Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price 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.

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