Kayne Anderson Rudnick Investment Management LLC Has $220.21 Million Stake in Manhattan Associates, Inc. $MANH

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its holdings in Manhattan Associates, Inc. by 0.9%, owning 1,272,599 shares after selling 12,036 shares in the first quarter, valued at $220.2 million.
• Insiders, including Chairman Eddie Capel and EVP James Stewart Gantt, sold significant shares in recent transactions, with Capel's sale accounting for an 18.64% reduction in his ownership.
• Wall Street analysts have raised their price targets for Manhattan Associates, with Robert W. Baird and Raymond James Financial setting targets at $230.00 and $250.00 respectively, indicating a positive outlook for the stock.

Kayne Anderson Rudnick Investment Management LLC decreased its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 0.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,272,599 shares of the software maker's stock after selling 12,036 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 2.10% of Manhattan Associates worth $220,211,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp raised its position in Manhattan Associates by 6.3% during the first quarter. Northern Trust Corp now owns 809,894 shares of the software maker's stock worth $140,144,000 after acquiring an additional 48,074 shares in the last quarter. Bank of New York Mellon Corp raised its position 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 purchasing an additional 54,273 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 purchasing an additional 27,621 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Manhattan Associates by 16.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 513,293 shares of the software maker's stock worth $138,714,000 after buying an additional 73,546 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Manhattan Associates by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 493,208 shares of the software maker's stock worth $133,293,000 after buying an additional 15,201 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MANH. Robert W. Baird raised their target price on shares of Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Morgan Stanley began coverage on shares of Manhattan Associates in a research note on Monday, July 14th. They set an "underweight" rating and a $190.00 target price for the company. Redburn Atlantic cut shares of Manhattan Associates from a "buy" rating to a "neutral" rating and cut their target price for the stock from $270.00 to $200.00 in a research note on Tuesday, June 10th. Loop Capital raised their target price on shares of Manhattan Associates from $170.00 to $200.00 and gave the stock a "hold" rating in a research note on Tuesday, July 22nd. Finally, DA Davidson lifted their price objective on shares of Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $216.67.

Insider Buying and Selling

In related news, Chairman Eddie Capel sold 37,342 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $222.18, for a total transaction of $8,296,645.56. Following the sale, the chairman directly owned 162,988 shares in the company, valued at $36,212,673.84. This trade represents a 18.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James Stewart Gantt sold 2,300 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $220.33, for a total transaction of $506,759.00. Following the completion of the transaction, 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. Insiders have sold a total of 41,666 shares of company stock worth $9,251,781 in the last ninety days. Company insiders own 0.88% of the company's stock.

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock traded down $4.34 during midday trading on Friday, hitting $214.12. 111,510 shares of the company traded hands, compared to its average volume of 785,667. The firm's fifty day moving average price is $207.92 and its 200-day moving average price is $188.34. Manhattan Associates, Inc. has a 12 month low of $140.81 and a 12 month high of $312.60. The stock has a market cap of $12.95 billion, a price-to-earnings ratio of 59.79 and a beta of 1.10.

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 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 the consensus estimate of $263.62 million. During the same period last year, the company earned $1.18 EPS. The firm'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. Equities research analysts forecast that Manhattan Associates, Inc. will post 3.3 earnings per share for the current year.

Manhattan Associates Company 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.