Invesco Ltd. Cuts Stock Holdings in Manhattan Associates, Inc. $MANH

Key Points

• Invesco Ltd. reduced its holdings in Manhattan Associates by 45.6%, selling 848,072 shares during the first quarter, leaving it with a total of 1,013,088 shares.
• Manhattan Associates' recent earnings report indicated an EPS of $1.31, surpassing estimates, alongside a 20.91% net margin and revenue growth of 2.7% year-over-year.
• Analysts have mixed ratings on Manhattan Associates with a consensus of "Hold", and the average target price set at $216.67, reflecting cautious investor sentiment.

Invesco Ltd. decreased its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 45.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,013,088 shares of the software maker's stock after selling 848,072 shares during the period. Invesco Ltd. owned about 1.67% of Manhattan Associates worth $175,305,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MANH. BOKF NA increased its stake in Manhattan Associates by 0.4% during the 4th quarter. BOKF NA now owns 13,271 shares of the software maker's stock worth $3,522,000 after acquiring an additional 55 shares during the period. Cordatus Wealth Management LLC boosted its holdings in shares of 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 purchasing an additional 57 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in shares of 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 purchasing an additional 73 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Manhattan Associates by 6.9% during the 1st quarter. Signaturefd LLC now owns 1,285 shares of the software maker's stock valued at $222,000 after acquiring an additional 83 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of Manhattan Associates by 14.6% during the 1st quarter. Fifth Third Bancorp now owns 691 shares of the software maker's stock valued at $120,000 after acquiring an additional 88 shares in the last quarter. Institutional investors own 98.45% of the company's stock.

Insider Buying and Selling

In related news, Director Linda T. Hollembaek sold 2,024 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total value of $448,376.72. Following the completion of the transaction, the director directly owned 11,907 shares in the company, valued at approximately $2,637,757.71. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Eddie Capel sold 37,342 shares of the company's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $222.18, for a total transaction of $8,296,645.56. Following the completion of the transaction, the chairman 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,666 shares of company stock worth $9,251,781. Corporate insiders own 0.88% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MANH shares. Robert W. Baird raised their target price on Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Citigroup reaffirmed a "neutral" rating and set a $200.00 target price (up from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Morgan Stanley started coverage on Manhattan Associates in a research report on Monday, July 14th. They set an "underweight" rating and a $190.00 target price for the company. Raymond James Financial raised their target price on Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Finally, Loop Capital raised their target price on Manhattan Associates from $170.00 to $200.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $216.67.

Manhattan Associates Trading Up 0.3%

Shares of Manhattan Associates stock traded up $0.63 during trading on Monday, hitting $215.42. The stock had a trading volume of 112,462 shares, compared to its average volume of 803,150. Manhattan Associates, Inc. has a 12 month low of $140.81 and a 12 month high of $312.60. The business's 50-day moving average is $203.51 and its 200 day moving average is $187.08. The firm has a market cap of $13.03 billion, a price-to-earnings ratio of 60.17 and a beta of 1.10.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $263.62 million. During the same period in the previous year, the business earned $1.18 earnings per share. The firm's quarterly revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts expect that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

About Manhattan Associates

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.