Jones Financial Companies Lllp Grows Stock Holdings in Manhattan Associates, Inc. $MANH

Key Points

• Jones Financial Companies Lllp significantly increased its stake in Manhattan Associates, Inc. by 46,233.9%, owning 239,083 shares valued at approximately $41.37 million by the end of the first quarter.
• Insider sales observed included Director Linda T. Hollembaek and Chairman Eddie Capel, selling 2,024 and 37,342 shares respectively, marking decreases of 14.53% and 18.64% in their stock holdings.
• Analysts have recently adjusted their price targets for Manhattan Associates, with Raymond James raising their target from $195 to $250, reflecting optimistic sentiment toward the stock.

Jones Financial Companies Lllp raised its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 46,233.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 239,083 shares of the software maker's stock after buying an additional 238,567 shares during the period. Jones Financial Companies Lllp owned about 0.39% of Manhattan Associates worth $41,371,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Park Square Financial Group LLC purchased a new position in shares of Manhattan Associates during the fourth quarter worth $38,000. Central Pacific Bank Trust Division boosted its position in shares of Manhattan Associates by 107.3% during the first quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock worth $34,000 after buying an additional 103 shares during the period. Brooklyn Investment Group boosted its position in shares of Manhattan Associates by 70.1% during the first quarter. Brooklyn Investment Group now owns 359 shares of the software maker's stock worth $62,000 after buying an additional 148 shares during the period. Reyes Financial Architecture Inc. boosted its position in shares of Manhattan Associates by 42.5% during the first quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock worth $82,000 after buying an additional 142 shares during the period. Finally, Bayforest Capital Ltd boosted its position in shares of Manhattan Associates by 126.6% during the first quarter. Bayforest Capital Ltd now owns 494 shares of the software maker's stock worth $85,000 after buying an additional 276 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Stock Down 1.4%

Manhattan Associates stock traded down $3.16 during midday trading on Friday, reaching $216.10. The company's stock had a trading volume of 435,532 shares, compared to its average volume of 452,648. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60. The company has a market cap of $13.07 billion, a P/E ratio of 60.36 and a beta of 1.13. The business has a 50-day simple moving average of $212.02 and a 200-day simple moving average of $190.73.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The software maker reported $1.31 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.19. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%.The business had revenue of $272.42 million for the quarter, compared to analysts' expectations of $263.62 million. During the same quarter in the previous year, the firm earned $1.18 earnings per share. The business's revenue 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. As a group, equities analysts forecast that Manhattan Associates, Inc. will post 3.3 earnings per share for the current year.

Insider Transactions at Manhattan Associates

In other news, Chairman Eddie Capel sold 37,342 shares of Manhattan Associates stock in a transaction dated 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 sale, the chairman owned 162,988 shares in the company, valued at approximately $36,212,673.84. The trade was a 18.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Stewart Gantt sold 2,300 shares of Manhattan Associates 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 sale, the executive vice president owned 48,660 shares in the company, valued at $10,721,257.80. This trade represents a 4.51% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,666 shares of company stock worth $9,251,781. Corporate insiders own 0.88% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MANH. Robert W. Baird lifted their target price on Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. DA Davidson lifted their target price on Manhattan Associates from $225.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Morgan Stanley began coverage on Manhattan Associates in a report on Monday, July 14th. They issued an "underweight" rating and a $190.00 target price for the company. Redburn Atlantic lowered Manhattan Associates from a "buy" rating to a "neutral" rating and decreased their target price for the company from $270.00 to $200.00 in a report on Tuesday, June 10th. Finally, Citigroup restated a "neutral" rating and issued a $200.00 price target (up from $177.00) on shares of Manhattan Associates in a research note on Wednesday, July 16th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $216.67.

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.