Manhattan Associates, Inc. $MANH Stake Boosted by Ieq Capital LLC

Key Points

• Ieq Capital LLC significantly increased its stake in Manhattan Associates by 1,570.6% during the first quarter, now owning 18,109 shares worth approximately $3.13 million.
• Manhattan Associates reported a Q2 EPS of $1.31, exceeding expectations by $0.19, with a revenue of $272.42 million, indicating a year-over-year growth of 2.7%.
• Multiple brokerages have raised their price targets on Manhattan Associates, with DA Davidson setting a new target of $250.00, reflecting increasing investor confidence in the stock.

Ieq Capital LLC lifted its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 1,570.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,109 shares of the software maker's stock after acquiring an additional 17,025 shares during the quarter. Ieq Capital LLC's holdings in Manhattan Associates were worth $3,134,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. BOKF NA boosted its position in shares of Manhattan Associates by 0.4% in the 4th quarter. BOKF NA now owns 13,271 shares of the software maker's stock worth $3,522,000 after buying an additional 55 shares in the last quarter. Cordatus Wealth Management LLC lifted its stake in Manhattan Associates by 4.9% in the 1st quarter. Cordatus Wealth Management LLC now owns 1,229 shares of the software maker's stock valued at $213,000 after buying an additional 57 shares in the last quarter. Credit Agricole S A lifted its stake in Manhattan Associates by 1.3% in the 1st quarter. Credit Agricole S A now owns 4,858 shares of the software maker's stock valued at $841,000 after buying an additional 64 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its stake in Manhattan Associates by 1.1% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 6,552 shares of the software maker's stock valued at $1,134,000 after buying an additional 73 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Manhattan Associates by 6.9% in the 1st quarter. Signaturefd LLC now owns 1,285 shares of the software maker's stock valued at $222,000 after buying an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Manhattan Associates Stock Performance

Shares of MANH traded down $0.11 during trading hours on Thursday, hitting $207.20. The stock had a trading volume of 141,985 shares, compared to its average volume of 780,118. Manhattan Associates, Inc. has a 12-month low of $140.81 and a 12-month high of $312.60. The company's fifty day simple moving average is $209.58 and its 200 day simple moving average is $189.10. The firm has a market cap of $12.53 billion, a P/E ratio of 57.96 and a beta of 1.13.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 earnings per share (EPS) for the quarter, beating 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 company had revenue of $272.42 million for the quarter, compared to analyst estimates of $263.62 million. During the same quarter last year, the firm posted $1.18 earnings per share. The business'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. As a group, sell-side analysts predict that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP James Stewart Gantt sold 2,300 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $220.33, for a total value of $506,759.00. Following the completion of the sale, the executive vice president directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Eddie Capel sold 37,342 shares of the business's 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 sale, the chairman owned 162,988 shares of the company's stock, valued at approximately $36,212,673.84. The trade was a 18.64% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,666 shares of company stock worth $9,251,781. Insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MANH. Truist Financial upped their target price on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Robert W. Baird upped their target price 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. Citigroup restated a "neutral" rating and issued a $200.00 target price (up from $177.00) on shares of Manhattan Associates in a report on Wednesday, July 16th. DA Davidson increased their price target on Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, Morgan Stanley started coverage on Manhattan Associates in a research note on Monday, July 14th. They set an "underweight" rating and a $190.00 price target on the stock. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Manhattan Associates has an average rating of "Moderate Buy" 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.