Hsbc Holdings PLC Makes New Investment in Manhattan Associates, Inc. $MANH

Key Points

• Hsbc Holdings PLC acquired 31,653 shares of Manhattan Associates in the second quarter, worth approximately $4.41 million, giving it a 0.05% stake. Institutional investors and hedge funds collectively own 98.45% of the company.
• Manhattan Associates reported quarterly EPS of $1.39, beating estimates by $0.07, while revenue rose 9.3% year over year to $297.79 million. The stock opened at $223.28, near its 52-week high of $227.03.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $213.40, although insider selling totaled 9,139 shares worth about $1.74 million over the past 90 days.

Hsbc Holdings PLC bought a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 31,653 shares of the software maker's stock, valued at approximately $4,410,000. Hsbc Holdings PLC owned about 0.05% of Manhattan Associates at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its holdings in Manhattan Associates by 448.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker's stock valued at $28,000 after acquiring an additional 112 shares in the last quarter. Versant Capital Management Inc grew its holdings in Manhattan Associates by 508.9% during the 2nd quarter. Versant Capital Management Inc now owns 274 shares of the software maker's stock worth $38,000 after acquiring an additional 229 shares in the last quarter. BNP Paribas acquired a new position in Manhattan Associates during the 4th quarter worth $39,000. TD Private Client Wealth LLC increased its position in shares of Manhattan Associates by 83.8% in the 4th quarter. TD Private Client Wealth LLC now owns 239 shares of the software maker's stock worth $41,000 after purchasing an additional 109 shares during the last quarter. Finally, Leonteq Securities AG bought a new stake in shares of Manhattan Associates in the 4th quarter worth about $44,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH opened at $223.28 on Friday. The company's fifty day moving average is $173.96 and its two-hundred day moving average is $151.13. Manhattan Associates, Inc. has a 1-year low of $119.06 and a 1-year high of $227.03. The stock has a market capitalization of $13.02 billion, a price-to-earnings ratio of 63.98 and a beta of 0.93.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 EPS for the quarter, beating the consensus estimate of $1.32 by $0.07. The business had revenue of $297.79 million during the quarter, compared to analyst estimates of $289.03 million. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The company's quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.31 EPS. Sell-side analysts expect that Manhattan Associates, Inc. will post 3.87 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Weiss Ratings raised shares of Manhattan Associates from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 14th. Barclays lowered their price objective on Manhattan Associates from $239.00 to $201.00 and set an "overweight" rating for the company in a report on Friday, May 29th. Robert W. Baird upped their price objective on Manhattan Associates from $218.00 to $260.00 and gave the company an "outperform" rating in a research note on Wednesday. Citigroup increased their target price on Manhattan Associates from $177.00 to $193.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. Finally, Wall Street Zen lowered Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $213.40.

Insider Buying and Selling

In other Manhattan Associates news, CEO Eric Andrew Clark sold 3,000 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total value of $593,280.00. Following the completion of the transaction, the chief executive officer directly owned 89,638 shares in the company, valued at $17,726,810.88. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James Stewart Gantt sold 5,139 shares of the company's stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total value of $1,004,828.67. Following the transaction, the executive vice president directly owned 55,676 shares of the company's stock, valued at $10,886,328.28. This trade represents a 8.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 9,139 shares of company stock valued at $1,744,879. 0.84% of the stock is currently owned by insiders.

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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