Lazard Asset Management LLC Has $93.15 Million Stock Holdings in Manhattan Associates, Inc. $MANH

Key Points

• Lazard Asset Management reduced its Manhattan Associates stake by 1.6% in the first quarter, selling 11,660 shares. It still held 699,768 shares worth approximately $93.15 million, or 1.18% of the company.
• Institutional investors own 98.45% of Manhattan Associates, while several other funds recently initiated or expanded positions.
• Analysts maintain a favorable outlook, with eight Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $201, versus a recent share price of $159.29.

Lazard Asset Management LLC decreased its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 1.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 699,768 shares of the software maker's stock after selling 11,660 shares during the quarter. Lazard Asset Management LLC owned 1.18% of Manhattan Associates worth $93,153,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Eagle Bay Advisors LLC purchased a new position in Manhattan Associates during the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Manhattan Associates by 448.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker's stock valued at $28,000 after purchasing an additional 112 shares during the period. BNP Paribas purchased a new stake in shares of Manhattan Associates in the fourth quarter worth approximately $39,000. TD Private Client Wealth LLC lifted its position in shares of Manhattan Associates by 83.8% in the fourth quarter. TD Private Client Wealth LLC now owns 239 shares of the software maker's stock worth $41,000 after purchasing an additional 109 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Manhattan Associates during the fourth quarter worth approximately $44,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on MANH. Citigroup boosted their price objective on shares of Manhattan Associates from $177.00 to $193.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. Robert W. Baird increased their target price on shares of Manhattan Associates from $183.00 to $186.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 22nd. Stifel Nicolaus set a $200.00 target price on shares of Manhattan Associates in a research note on Wednesday, May 20th. DA Davidson restated a "buy" rating and set a $200.00 price target on shares of Manhattan Associates in a report on Wednesday, May 20th. Finally, Rothschild & Co Redburn set a $145.00 price target on shares of Manhattan Associates in a research note on Thursday, April 16th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $201.00.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock opened at $159.29 on Tuesday. The firm has a market cap of $9.43 billion, a price-to-earnings ratio of 44.62 and a beta of 0.97. The stock has a 50-day simple moving average of $146.29 and a 200-day simple moving average of $144.87. Manhattan Associates, Inc. has a 52-week low of $119.06 and a 52-week high of $229.57.

Insiders Place Their Bets

In other Manhattan Associates news, CEO Eric Andrew Clark sold 1,000 shares of Manhattan Associates stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $146.77, for a total value of $146,770.00. Following the completion of the sale, the chief executive officer directly owned 92,638 shares in the company, valued at $13,596,479.26. The trade was a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.84% of the company's stock.

About Manhattan Associates

Manhattan Associates, Inc NASDAQ: MANH is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.

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