Manhattan Associates, Inc. $MANH Holdings Lowered by HB Wealth Management LLC

Key Points

• HB Wealth Management cut its Manhattan Associates stake by 55.7% in the second quarter, selling 6,120 shares and retaining 4,876 shares valued at approximately $679,000.
• Institutional investors own 98.45% of MANH; while HB Wealth reduced its position, BlackRock initiated a stake and T. Rowe Price, AQR Capital, Morgan Stanley, and Geode Capital increased theirs.
• Analysts maintain a “Moderate Buy” consensus with a $217.20 average price target. Manhattan Associates also surpassed quarterly earnings and revenue estimates, reporting $1.39 in EPS and $297.79 million in revenue.

HB Wealth Management LLC reduced its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 55.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,876 shares of the software maker's stock after selling 6,120 shares during the period. HB Wealth Management LLC's holdings in Manhattan Associates were worth $679,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. bought a new stake in Manhattan Associates during the second quarter worth approximately $944,285,000. T. Rowe Price Investment Management Inc. boosted its stake in Manhattan Associates by 35.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker's stock valued at $447,182,000 after purchasing an additional 671,589 shares in the last quarter. AQR Capital Management LLC boosted its stake in Manhattan Associates by 6.9% during the 4th quarter. AQR Capital Management LLC now owns 2,219,539 shares of the software maker's stock valued at $384,668,000 after purchasing an additional 142,407 shares in the last quarter. Morgan Stanley increased its position in shares of Manhattan Associates by 2.5% during the 4th quarter. Morgan Stanley now owns 2,178,422 shares of the software maker's stock valued at $377,543,000 after purchasing an additional 53,037 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Manhattan Associates by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker's stock valued at $305,199,000 after purchasing an additional 88,005 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on MANH. Morgan Stanley set a $180.00 price objective on Manhattan Associates in a report on Wednesday, July 29th. DA Davidson lifted their target price on Manhattan Associates from $200.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. Wall Street Zen cut shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Weiss Ratings upgraded shares of Manhattan Associates from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 14th. Finally, Stifel Nicolaus upped their price target on shares of Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, July 29th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $217.20.

Manhattan Associates Stock Performance

NASDAQ MANH opened at $201.82 on Friday. Manhattan Associates, Inc. has a 1 year low of $119.06 and a 1 year high of $227.03. The business's fifty day moving average is $188.87 and its two-hundred day moving average is $155.99. The stock has a market capitalization of $11.77 billion, a P/E ratio of 57.83 and a beta of 0.95.

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 for the quarter, topping the consensus estimate 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 company's revenue was up 9.3% compared to the same quarter last year. During the same period last year, the company posted $1.31 EPS. On average, research analysts forecast that Manhattan Associates, Inc. will post 3.87 earnings per share for the current year.

Insider Buying and Selling at Manhattan Associates

In related news, CEO Eric Clark sold 3,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total value of $593,280.00. Following the completion of the transaction, the chief executive officer owned 89,638 shares in the company, valued at $17,726,810.88. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP James Gantt sold 5,139 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total value of $1,004,828.67. Following the completion of the transaction, the executive vice president owned 55,676 shares of the company's stock, valued at $10,886,328.28. This trade represents a 8.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.84% of the company's stock.

Manhattan Associates Company Profile

Manhattan Associates, Inc is a technology company that develops cloud-based software for supply chain, inventory, and omnichannel commerce operations. Its solutions help businesses manage the movement of goods from suppliers and distribution centers to stores and customers, while improving visibility, efficiency, and service.

The company's product portfolio includes Manhattan Active Warehouse Management, Manhattan Active Transportation Management, Manhattan Active Order Management, supply chain planning, inventory optimization, labor management, and customer engagement applications.

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