Ilmarinen Mutual Pension Insurance Co Takes $1.73 Million Position in Manhattan Associates, Inc. $MANH

Key Points

• Ilmarinen Mutual Pension Insurance Co has acquired a new stake in Manhattan Associates, Inc., investing approximately $1.73 million by purchasing 10,000 shares in the 1st quarter.
• Several hedge funds have increased their positions in MANH, with institutional ownership reaching 98.45% of the company's stock.
• Manhattan Associates reported better-than-expected earnings per share of $1.31 for the last quarter, surpassing analysts' estimates of $1.12.

Ilmarinen Mutual Pension Insurance Co purchased a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,000 shares of the software maker's stock, valued at approximately $1,730,000.

Several other hedge funds have also added to or reduced their stakes in MANH. DAVENPORT & Co LLC bought a new stake in Manhattan Associates during the 1st quarter worth about $214,000. Allianz Asset Management GmbH raised its stake in shares of Manhattan Associates by 18.9% during the first quarter. Allianz Asset Management GmbH now owns 143,687 shares of the software maker's stock worth $24,864,000 after buying an additional 22,845 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Manhattan Associates by 876.3% in the first quarter. SG Americas Securities LLC now owns 7,615 shares of the software maker's stock valued at $1,318,000 after buying an additional 6,835 shares during the period. Abacus FCF Advisors LLC lifted its holdings in Manhattan Associates by 170.0% in the first quarter. Abacus FCF Advisors LLC now owns 32,865 shares of the software maker's stock valued at $5,687,000 after buying an additional 20,691 shares during the period. Finally, Merit Financial Group LLC boosted its stake in Manhattan Associates by 165.1% in the first quarter. Merit Financial Group LLC now owns 4,279 shares of the software maker's stock valued at $740,000 after acquiring an additional 2,665 shares during the last quarter. Institutional investors own 98.45% of the company's stock.

Manhattan Associates Price Performance

NASDAQ MANH opened at $212.31 on Thursday. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60. The firm has a market cap of $12.84 billion, a P/E ratio of 59.30 and a beta of 1.13. The stock's 50-day moving average is $211.31 and its 200-day moving average is $190.08.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.19. The business had revenue of $272.42 million during the quarter, compared to analysts' expectations of $263.62 million. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%.Manhattan Associates's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.18 EPS. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. Equities analysts anticipate that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

Analyst Ratings Changes

MANH has been the subject of several recent research reports. Loop Capital upped their target price on shares of Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a research report on Tuesday, July 22nd. Raymond James Financial increased their target price on Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Truist Financial raised their target price on Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. DA Davidson upped their price target on Manhattan Associates from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Citigroup reiterated a "neutral" rating and issued a $200.00 price target (up from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Manhattan Associates currently has a consensus rating of "Moderate Buy" and a consensus price target of $216.67.

Insider Transactions at Manhattan Associates

In related news, EVP James Stewart Gantt sold 2,300 shares of the firm's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $220.33, for a total transaction of $506,759.00. Following the sale, the executive vice president directly owned 48,660 shares in the company, valued at $10,721,257.80. This trade represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 completion of the sale, the chairman directly owned 162,988 shares in the company, valued at $36,212,673.84. This represents a 18.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,666 shares of company stock valued at $9,251,781 over the last quarter. Corporate insiders own 0.88% of the company's stock.

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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