Jacobs Levy Equity Management Inc. Has $104.87 Million Position in Manhattan Associates, Inc. $MANH

Key Points

• Jacobs Levy Equity Management Inc. significantly increased its stake in Manhattan Associates by 1,214.2% during the first quarter, now owning 606,038 shares valued at approximately $104.87 million.
• Several hedge funds have also adjusted their positions in Manhattan Associates, with 98.45% of the company's stock now owned by institutional investors.
• Analysts have a generally positive outlook on the stock, with a consensus rating of "Moderate Buy" and a price target averaging $216.67, despite some firms issuing downgrades.

Jacobs Levy Equity Management Inc. grew its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 1,214.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 606,038 shares of the software maker's stock after purchasing an additional 559,923 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 1.00% of Manhattan Associates worth $104,869,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Northern Trust Corp grew its position in Manhattan Associates by 6.3% in the 1st quarter. Northern Trust Corp now owns 809,894 shares of the software maker's stock worth $140,144,000 after purchasing an additional 48,074 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Manhattan Associates by 103.0% in the first quarter. AQR Capital Management LLC now owns 684,663 shares of the software maker's stock valued at $116,872,000 after acquiring an additional 347,358 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Manhattan Associates by 10.1% in the first quarter. Bank of New York Mellon Corp now owns 591,794 shares of the software maker's stock valued at $102,404,000 after acquiring an additional 54,273 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Manhattan Associates by 5.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 545,570 shares of the software maker's stock valued at $147,435,000 after acquiring an additional 27,621 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Manhattan Associates by 3.9% in the first quarter. Royal Bank of Canada now owns 473,677 shares of the software maker's stock valued at $81,964,000 after acquiring an additional 17,561 shares in the last quarter. Institutional investors own 98.45% of the company's stock.

Manhattan Associates Trading Down 1.7%

NASDAQ MANH traded down $3.72 on Tuesday, reaching $215.61. The company's stock had a trading volume of 536,621 shares, compared to its average volume of 776,789. The firm has a market cap of $13.04 billion, a PE ratio of 60.23 and a beta of 1.13. The business has a 50-day moving average price of $210.69 and a 200 day moving average price of $189.75. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60.

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 for the quarter, beating analysts' consensus estimates of $1.12 by $0.19. The business had revenue of $272.42 million for the quarter, compared to analysts' expectations of $263.62 million. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.18 earnings per share. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. Analysts anticipate that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Raymond James Financial increased their price objective on shares of Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Robert W. Baird increased their price objective 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. Redburn Atlantic cut shares of Manhattan Associates from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $270.00 to $200.00 in a report on Tuesday, June 10th. DA Davidson raised their target price on shares of Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Truist Financial increased their target price on shares of Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $216.67.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 2,300 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $10,721,257.80. This represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Linda T. Hollembaek sold 2,024 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $221.53, for a total transaction of $448,376.72. Following the sale, the director directly owned 11,907 shares in the company, valued at $2,637,757.71. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,666 shares of company stock valued at $9,251,781 over the last quarter. 0.88% of the stock is owned by company insiders.

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.