LPL Financial LLC Sells 2,582 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Key Points

• LPL Financial LLC reduced its stake in Manhattan Associates by 6.5%, selling 2,582 shares, and now holds 36,983 shares valued at approximately $6.12 million.
• Institutional investors own 98.45% of Manhattan Associates, with significant changes from firms like Allianz Asset Management, which raised their holdings by 18.9%.
• Manhattan Associates reported $1.31 earnings per share for the last quarter, exceeding expectations, and experienced revenue growth of 2.7% year-over-year.

LPL Financial LLC trimmed its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,983 shares of the software maker's stock after selling 2,582 shares during the quarter. LPL Financial LLC owned 0.06% of Manhattan Associates worth $6,123,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. DAVENPORT & Co LLC bought a new stake in shares of Manhattan Associates during the first quarter worth $214,000. Allianz Asset Management GmbH raised its holdings in shares of Manhattan Associates by 18.9% in the first quarter. Allianz Asset Management GmbH now owns 143,687 shares of the software maker's stock valued at $24,864,000 after acquiring an additional 22,845 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Manhattan Associates by 876.3% in the first quarter. SG Americas Securities LLC now owns 7,615 shares of the software maker's stock valued at $1,318,000 after acquiring an additional 6,835 shares in the last quarter. Abacus FCF Advisors LLC raised its holdings in shares of Manhattan Associates by 170.0% in the first quarter. Abacus FCF Advisors LLC now owns 32,865 shares of the software maker's stock valued at $5,687,000 after acquiring an additional 20,691 shares in the last quarter. Finally, Merit Financial Group LLC raised its holdings in shares of Manhattan Associates by 165.1% in the first quarter. Merit Financial Group LLC now owns 4,279 shares of the software maker's stock valued at $740,000 after acquiring an additional 2,665 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $205.25 on Tuesday. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60. The firm has a market capitalization of $12.41 billion, a price-to-earnings ratio of 57.33 and a beta of 1.10. The stock's 50-day simple moving average is $201.47 and its 200-day simple moving average is $188.18.

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, 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 analyst estimates of $263.62 million. During the same quarter in the previous year, the firm earned $1.18 earnings per share. The company's revenue was up 2.7% on a year-over-year basis. As a group, equities analysts forecast that Manhattan Associates, Inc. will post 3.3 earnings per share for the current year.

Insider Buying and Selling

In related 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 completion of the sale, the chairman owned 162,988 shares of the company's stock, valued at $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 SEC, which is available through this hyperlink. Also, Director Linda T. Hollembaek sold 2,024 shares of Manhattan Associates stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $221.53, for a total value of $448,376.72. Following the sale, the director directly owned 11,907 shares of the company's stock, valued at $2,637,757.71. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,666 shares of company stock valued at $9,251,781 over the last quarter. 0.72% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MANH has been the subject of several recent research reports. Morgan Stanley initiated coverage on Manhattan Associates in a report on Monday, July 14th. They issued an "underweight" rating and a $190.00 price objective for the company. DA Davidson lifted their price objective on Manhattan Associates from $225.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Robert W. Baird lifted their price objective on Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Loop Capital lifted their target price on Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a research note on Tuesday, July 22nd. Finally, Citigroup reiterated a "neutral" rating and issued a $200.00 target price (up previously from $177.00) on shares of Manhattan Associates in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $216.67.

Manhattan Associates 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.

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