Jensen Investment Management Inc. Lowers Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Key Points

• Jensen Investment Management Inc. reduced its holdings in Manhattan Associates by 13.4% in the first quarter, leaving them with 13,880 shares valued at approximately $2.4 million.
• Multiple large investors made significant adjustments to their positions, with SG Americas Securities LLC boosting their stake by 876.3%, now owning 7,615 shares worth about $1.3 million.
• Recent earnings reports showed that Manhattan Associates surpassed analysts' expectations, posting $1.31 EPS against a consensus estimate of $1.12, along with a revenue increase of 2.7% year-over-year.

Jensen Investment Management Inc. decreased its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 13.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,880 shares of the software maker's stock after selling 2,150 shares during the quarter. Jensen Investment Management Inc.'s holdings in Manhattan Associates were worth $2,402,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. iA Global Asset Management Inc. increased its position in shares of Manhattan Associates by 87.8% in the 1st quarter. iA Global Asset Management Inc. now owns 2,239 shares of the software maker's stock valued at $387,000 after purchasing an additional 1,047 shares during the last quarter. Argent Trust Co grew its stake in shares of Manhattan Associates by 92.3% during the first quarter. Argent Trust Co now owns 3,475 shares of the software maker's stock worth $601,000 after purchasing an additional 1,668 shares in the last quarter. J. Safra Sarasin Holding AG grew its stake in shares of Manhattan Associates by 24.3% during the first quarter. J. Safra Sarasin Holding AG now owns 4,837 shares of the software maker's stock worth $837,000 after purchasing an additional 945 shares in the last quarter. Bank of Nova Scotia increased its holdings in Manhattan Associates by 2,599.2% in the first quarter. Bank of Nova Scotia now owns 58,167 shares of the software maker's stock valued at $10,065,000 after buying an additional 56,012 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Manhattan Associates by 95.6% in the first quarter. PNC Financial Services Group Inc. now owns 8,691 shares of the software maker's stock valued at $1,504,000 after buying an additional 4,247 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

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 transaction, the executive vice president owned 48,660 shares in the company, valued at $10,721,257.80. The trade was a 4.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Eddie Capel sold 37,342 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $222.18, for a total value of $8,296,645.56. Following the sale, the chairman directly owned 162,988 shares of the company's stock, valued at approximately $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 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 currently owned by insiders.

Manhattan Associates Price Performance

Shares of MANH stock traded down $5.49 during trading hours on Friday, hitting $205.79. The stock had a trading volume of 389,719 shares, compared to its average volume of 671,013. The firm has a market capitalization of $12.44 billion, a PE ratio of 57.48 and a beta of 1.10. The stock's 50 day moving average is $201.05 and its 200 day moving average is $190.07. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, topping 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 firm had revenue of $272.42 million during the quarter, compared to analysts' expectations of $263.62 million. During the same quarter in the prior year, the business earned $1.18 EPS. Manhattan Associates's quarterly revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts predict that Manhattan Associates, Inc. will post 3.3 earnings per share for the current year.

Analysts Set New Price Targets

MANH has been the subject of several analyst reports. Loop Capital upped their price objective on Manhattan Associates from $170.00 to $200.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. Truist Financial upped their price target on Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Morgan Stanley started coverage on shares of Manhattan Associates in a research note on Monday, July 14th. They issued an "underweight" rating and a $190.00 price target on the stock. DA Davidson boosted their price objective on shares of Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Raymond James Financial increased their target price on shares of Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average 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.