Legal & General Group Plc Invests $12.31 Million in Manhattan Associates, Inc. $MANH

Key Points

• Legal & General Group Plc acquired 88,393 shares of Manhattan Associates worth approximately $12.31 million, giving it a 0.15% stake. Institutional investors and hedge funds collectively own 98.45% of the company.
• Analyst sentiment remains positive, with eight Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $213.40; targets range from $201 to $260.
• Manhattan Associates exceeded quarterly expectations, reporting $1.39 in EPS versus $1.32 expected and $297.79 million in revenue versus $289.03 million forecast, while revenue increased 9.3% year over year. Recent insider activity was negative, with executives selling 9,139 shares worth about $1.74 million.

Legal & General Group Plc purchased a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 88,393 shares of the software maker's stock, valued at approximately $12,309,000. Legal & General Group Plc owned approximately 0.15% of Manhattan Associates at the end of the most recent quarter.

Several other large investors also recently modified their holdings of MANH. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Manhattan Associates by 72.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,245 shares of the software maker's stock valued at $2,124,000 after purchasing an additional 5,128 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Manhattan Associates by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 500,068 shares of the software maker's stock valued at $86,532,000 after buying an additional 41,571 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Manhattan Associates during the first quarter worth approximately $987,000. Focus Partners Wealth increased its stake in shares of Manhattan Associates by 181.4% in the first quarter. Focus Partners Wealth now owns 2,400 shares of the software maker's stock worth $415,000 after buying an additional 1,547 shares during the last quarter. Finally, Sivia Capital Partners LLC bought a new stake in shares of Manhattan Associates in the second quarter worth $446,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on MANH. Stifel Nicolaus increased their price objective on shares of Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. DA Davidson boosted their price objective on Manhattan Associates from $200.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, July 29th. Barclays reduced their target price on Manhattan Associates from $239.00 to $201.00 and set an "overweight" rating on the stock in a report on Friday, May 29th. Robert W. Baird lifted their target price on Manhattan Associates from $218.00 to $260.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 26th. Finally, Weiss Ratings raised Manhattan Associates from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 14th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $213.40.

Manhattan Associates Trading Down 0.0%

NASDAQ:MANH opened at $223.19 on Tuesday. The stock has a 50 day moving average of $175.85 and a 200-day moving average of $151.67. The firm has a market capitalization of $13.01 billion, a PE ratio of 63.95 and a beta of 0.93. Manhattan Associates, Inc. has a 52 week low of $119.06 and a 52 week high of $227.03.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.32 by $0.07. The business had revenue of $297.79 million during the quarter, compared to analyst estimates of $289.03 million. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The business's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.31 EPS. As a group, analysts predict that Manhattan Associates, Inc. will post 3.87 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Eric Andrew Clark sold 3,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total value of $593,280.00. Following the sale, the chief executive officer owned 89,638 shares of the company's stock, valued at $17,726,810.88. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Stewart Gantt sold 5,139 shares of the business's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the transaction, the executive vice president directly owned 55,676 shares of the company's stock, valued at $10,886,328.28. The trade was a 8.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 9,139 shares of company stock worth $1,744,879 over the last quarter. 0.84% of the stock is currently owned by company insiders.

Manhattan Associates Company Profile

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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