Ieq Capital LLC Buys Shares of 42,755 Manhattan Associates, Inc. $MANH

Key Points

• Ieq Capital LLC purchased 42,755 shares of Manhattan Associates in the second quarter, valued at approximately $5.95 million. Institutional investors collectively own 98.45% of the company.
• Manhattan Associates exceeded quarterly expectations, reporting $1.39 in EPS and $297.79 million in revenue; revenue rose 9.3% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $209.20.
• The stock opened at $214.56, near its 52-week high of $220.31, while company insiders sold 9,139 shares worth approximately $1.74 million during the latest quarter.

Ieq Capital LLC purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 42,755 shares of the software maker's stock, valued at approximately $5,954,000. Ieq Capital LLC owned 0.07% of Manhattan Associates as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. NewEdge Advisors LLC increased its position in shares of Manhattan Associates by 3.3% in the second quarter. NewEdge Advisors LLC now owns 1,852 shares of the software maker's stock valued at $366,000 after buying an additional 59 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Manhattan Associates by 2.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,708 shares of the software maker's stock worth $555,000 after buying an additional 69 shares in the last quarter. Covestor Ltd grew its stake in Manhattan Associates by 12.2% in the 4th quarter. Covestor Ltd now owns 670 shares of the software maker's stock valued at $116,000 after acquiring an additional 73 shares during the last quarter. Verdence Capital Advisors LLC grew its stake in Manhattan Associates by 3.4% in the 4th quarter. Verdence Capital Advisors LLC now owns 2,322 shares of the software maker's stock valued at $402,000 after acquiring an additional 76 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in Manhattan Associates by 1.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 6,369 shares of the software maker's stock valued at $1,104,000 after acquiring an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Wall Street Analyst Weigh In

MANH has been the subject of several recent research reports. Wall Street Zen downgraded Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Weiss Ratings upgraded Manhattan Associates from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 14th. Citigroup increased their price objective on Manhattan Associates from $177.00 to $193.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Morgan Stanley set a $180.00 price objective on Manhattan Associates in a research report on Wednesday, July 29th. Finally, Barclays cut their target price on shares of Manhattan Associates from $239.00 to $201.00 and set an "overweight" rating for the company in a research note on Friday, May 29th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Manhattan Associates has an average rating of "Moderate Buy" and a consensus price target of $209.20.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH opened at $214.56 on Monday. The business's 50-day simple moving average is $165.78 and its 200 day simple moving average is $148.45. The company has a market cap of $12.51 billion, a P/E ratio of 61.48 and a beta of 0.93. Manhattan Associates, Inc. has a one year low of $119.06 and a one year high of $220.31.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.07. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The firm had revenue of $297.79 million for the quarter, compared to the consensus estimate of $289.03 million. During the same quarter in the previous year, the firm posted $1.31 EPS. The firm's quarterly revenue was up 9.3% on a year-over-year basis. Analysts predict that Manhattan Associates, Inc. will post 3.87 earnings per share for the current year.

Insider Buying and Selling

In other Manhattan Associates news, CEO Eric Andrew Clark sold 3,000 shares of the business's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total transaction of $593,280.00. Following the completion of the sale, the chief executive officer 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP James Stewart Gantt sold 5,139 shares of the business's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the sale, the executive vice president directly owned 55,676 shares of the company's stock, valued at approximately $10,886,328.28. This represents a 8.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 9,139 shares of company stock valued at $1,744,879 over the last quarter. Company insiders own 0.84% of the company's stock.

About Manhattan Associates

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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