Headlands Technologies LLC Invests $410,000 in Manhattan Associates, Inc. (NASDAQ:MANH)

Key Points

• Headlands Technologies LLC has made a new investment of $410,000 in Manhattan Associates, Inc., purchasing 2,372 shares of the software company during the 1st quarter.
• Institutional ownership of Manhattan Associates is high, with 98.45% of shares held by hedge funds and other institutional investors, including significant increases from firms like Lazard Asset Management and GAMMA Investing.
• Analysts have varied ratings on Manhattan Associates, with DA Davidson raising its price target to $250 and Morgan Stanley assigning an "underweight" rating at a $190 price target, reflecting mixed outlooks for the stock.

Headlands Technologies LLC bought a new position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,372 shares of the software maker's stock, valued at approximately $410,000.

Several other large investors also recently modified their holdings of MANH. Ontario Teachers Pension Plan Board lifted its holdings in shares of Manhattan Associates by 168.9% during the first quarter. Ontario Teachers Pension Plan Board now owns 3,525 shares of the software maker's stock valued at $610,000 after purchasing an additional 2,214 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Manhattan Associates by 64.4% during the first quarter. Chicago Partners Investment Group LLC now owns 1,356 shares of the software maker's stock valued at $249,000 after purchasing an additional 531 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Manhattan Associates by 11.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 449,632 shares of the software maker's stock valued at $77,804,000 after purchasing an additional 45,743 shares during the last quarter. ASR Vermogensbeheer N.V. purchased a new position in shares of Manhattan Associates during the first quarter valued at approximately $211,000. Finally, iA Global Asset Management Inc. lifted its holdings in shares of Manhattan Associates by 87.8% during the first quarter. iA Global Asset Management Inc. now owns 2,239 shares of the software maker's stock valued at $387,000 after purchasing an additional 1,047 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Manhattan Associates news, Chairman Eddie Capel sold 37,342 shares of the stock in a transaction 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 transaction, the chairman directly owned 162,988 shares of the company's stock, valued at $36,212,673.84. This trade represents a 18.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James Stewart Gantt sold 2,300 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $220.33, for a total value of $506,759.00. Following the sale, the executive vice president owned 48,660 shares of the company's stock, valued at $10,721,257.80. The trade was a 4.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,666 shares of company stock valued at $9,251,781. 0.72% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MANH shares. DA Davidson boosted their price objective on shares of Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Raymond James Financial lifted their target price on shares of Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Loop Capital lifted their target price on shares of Manhattan Associates from $170.00 to $200.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. Morgan Stanley started coverage on shares of Manhattan Associates in a research report on Monday, July 14th. They issued an "underweight" rating and a $190.00 target price for the company. Finally, Truist Financial lifted their target price on shares of Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $216.67.

Manhattan Associates Stock Performance

MANH traded up $7.44 during trading on Wednesday, hitting $220.19. The stock had a trading volume of 548,804 shares, compared to its average volume of 809,705. The company has a market capitalization of $13.31 billion, a PE ratio of 61.51 and a beta of 1.10. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60. The stock has a 50 day simple moving average of $201.98 and a two-hundred day simple moving average of $188.35.

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. The firm had revenue of $272.42 million during the quarter, compared to the consensus estimate of $263.62 million. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%. The company's revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.18 earnings per share. On average, equities research analysts anticipate that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

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.