Manhattan Associates, Inc. $MANH Stake Lifted by Korea Investment CORP

Key Points

• Korea Investment CORP increased its stake in Manhattan Associates, Inc. by 65.2% in the first quarter, now owning approximately 0.07% of the company valued at $7.4 million.
• Additionally, several institutional investors, including Northern Trust Corp and Bank of New York Mellon Corp, also boosted their holdings in Manhattan Associates during the same period.
• The company reported a quarterly earnings per share of $1.31, surpassing expectations, and set its FY 2025 guidance between $4.760 and $4.840 EPS.

Korea Investment CORP increased its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 65.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,757 shares of the software maker's stock after purchasing an additional 16,879 shares during the quarter. Korea Investment CORP owned 0.07% of Manhattan Associates worth $7,399,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MANH. Northern Trust Corp boosted its position in Manhattan Associates by 6.3% during 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 period. Bank of New York Mellon Corp lifted its stake in shares of Manhattan Associates by 10.1% during the first quarter. Bank of New York Mellon Corp now owns 591,794 shares of the software maker's stock worth $102,404,000 after purchasing an additional 54,273 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 worth $147,435,000 after buying an additional 27,621 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Manhattan Associates by 16.7% in the fourth 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 period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Manhattan Associates by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 493,208 shares of the software maker's stock valued at $133,293,000 after buying an additional 15,201 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MANH has been the topic of several recent research reports. Truist Financial boosted their price target on Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. DA Davidson boosted their target price 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. Robert W. Baird raised their price target 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 downgraded shares of Manhattan Associates from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $270.00 to $200.00 in a research note on Tuesday, June 10th. Finally, Loop Capital upped their price objective on shares of Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a research report on Tuesday, July 22nd. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned 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.

Insiders Place Their Bets

In other news, Director Linda T. Hollembaek sold 2,024 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total value of $448,376.72. Following the transaction, the director directly owned 11,907 shares in the company, valued at approximately $2,637,757.71. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP James Stewart Gantt sold 2,300 shares of Manhattan Associates 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 completion of the transaction, the executive vice president directly owned 48,660 shares of the company's stock, valued at $10,721,257.80. This trade represents a 4.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,666 shares of company stock valued at $9,251,781. Company insiders own 0.88% of the company's stock.

Manhattan Associates Stock Down 0.0%

NASDAQ:MANH traded down $0.08 during trading hours on Thursday, reaching $218.83. 59,726 shares of the stock were exchanged, compared to its average volume of 787,018. The firm has a 50 day simple moving average of $207.32 and a 200-day simple moving average of $188.06. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60. The stock has a market capitalization of $13.23 billion, a P/E ratio of 60.99 and a beta of 1.10.

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

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.