Jacobs Levy Equity Management Inc. Purchases 559,923 Shares of 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. boosted its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 1,214.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 about 1.00% of Manhattan Associates worth $104,869,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MANH. BOKF NA grew its holdings 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 grew its holdings in Manhattan Associates by 4.9% during the 1st quarter. Cordatus Wealth Management LLC now owns 1,229 shares of the software maker's stock worth $213,000 after acquiring an additional 57 shares during the period. Credit Agricole S A grew its holdings in Manhattan Associates by 1.3% during the 1st quarter. Credit Agricole S A now owns 4,858 shares of the software maker's stock worth $841,000 after acquiring an additional 64 shares during the period. Linden Thomas Advisory Services LLC grew its holdings in Manhattan Associates by 1.1% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 6,552 shares of the software maker's stock worth $1,134,000 after acquiring an additional 73 shares during the period. Finally, Signaturefd LLC grew its holdings in Manhattan Associates by 6.9% during the 1st quarter. Signaturefd LLC now owns 1,285 shares of the software maker's stock worth $222,000 after acquiring an additional 83 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 2,300 shares of Manhattan Associates stock in a transaction that occurred 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 transaction, the executive vice president owned 48,660 shares of the company's stock, valued at $10,721,257.80. This trade represents a 4.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Eddie Capel sold 37,342 shares of Manhattan Associates stock in a transaction that occurred 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 transaction, the chairman directly owned 162,988 shares in the company, valued at approximately $36,212,673.84. This represents a 18.64% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,666 shares of company stock valued at $9,251,781. 0.72% of the stock is owned by corporate insiders.

Manhattan Associates Trading Down 0.5%

NASDAQ MANH traded down $1.12 during trading hours on Wednesday, hitting $214.49. The company's stock had a trading volume of 148,614 shares, compared to its average volume of 773,036. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60. The company has a market capitalization of $12.97 billion, a PE ratio of 59.72 and a beta of 1.13. The company's 50-day simple moving average is $211.04 and its two-hundred day simple moving average is $189.93.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, beating 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 business had revenue of $272.42 million for the quarter, compared to analysts' expectations of $263.62 million. During the same quarter last year, the firm earned $1.18 EPS. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. Research analysts anticipate that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MANH has been the subject of a number of recent analyst reports. Citigroup reiterated a "neutral" rating and set a $200.00 price target (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 report on Wednesday, July 23rd. Raymond James Financial increased their price objective on shares of Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a research 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 stock an "outperform" rating in a research report on Wednesday, July 16th. Finally, Loop Capital increased their price objective on shares of Manhattan Associates from $170.00 to $200.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $216.67.

Manhattan Associates 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.