Manhattan Associates, Inc. $MANH Shares Acquired by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp dramatically increased its stake in Manhattan Associates, boosting holdings by 3,239.2% in Q1 to 21,972 shares worth about $2.93 million.
• Manhattan Associates posted solid quarterly results, with EPS of $1.24 beating estimates and revenue of $282.21 million topping expectations, while revenue rose 7.4% year over year.
• Despite some insider selling and a recent downgrade from one analyst, Wall Street remains generally constructive on the stock, with an average rating of Moderate Buy and a consensus price target of $199.45.

Fifth Third Bancorp lifted its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 3,239.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,972 shares of the software maker's stock after acquiring an additional 21,314 shares during the quarter. Fifth Third Bancorp's holdings in Manhattan Associates were worth $2,925,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of MANH. Norges Bank acquired a new position in Manhattan Associates in the 4th quarter worth about $124,264,000. T. Rowe Price Investment Management Inc. lifted its position in shares of 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 buying an additional 671,589 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Manhattan Associates by 76.4% during the 3rd quarter. Lazard Asset Management LLC now owns 707,742 shares of the software maker's stock valued at $145,073,000 after buying an additional 306,516 shares in the last quarter. Swedbank AB grew its stake in Manhattan Associates by 25.0% in the 1st quarter. Swedbank AB now owns 1,500,000 shares of the software maker's stock valued at $199,680,000 after acquiring an additional 300,000 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new stake in Manhattan Associates in the 2nd quarter valued at $49,204,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, CEO Eric Andrew Clark sold 1,000 shares of the business's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $146.77, for a total value of $146,770.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP James Stewart Gantt sold 7,300 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $139.25, for a total value of $1,016,525.00. Following the completion of the transaction, the executive vice president owned 60,815 shares of the company's stock, valued at $8,468,488.75. The trade was a 10.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.84% of the stock is owned by insiders.

Manhattan Associates Stock Up 1.4%

Shares of NASDAQ:MANH opened at $165.51 on Tuesday. Manhattan Associates, Inc. has a 52-week low of $119.06 and a 52-week high of $247.22. The stock has a market cap of $9.79 billion, a P/E ratio of 46.36 and a beta of 0.97. The business has a fifty day moving average of $144.11 and a two-hundred day moving average of $145.45.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The software maker reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.14. Manhattan Associates had a net margin of 19.68% and a return on equity of 78.13%. The firm had revenue of $282.21 million for the quarter, compared to analysts' expectations of $273.70 million. During the same quarter in the previous year, the company posted $1.19 EPS. The company's revenue was up 7.4% compared to the same quarter last year. On average, equities analysts anticipate that Manhattan Associates, Inc. will post 3.72 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MANH shares. Wall Street Zen downgraded shares of Manhattan Associates from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Robert W. Baird boosted their target price on shares of Manhattan Associates from $183.00 to $186.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. DA Davidson restated a "buy" rating and set a $200.00 price target on shares of Manhattan Associates in a research report on Wednesday, May 20th. Stifel Nicolaus set a $200.00 price target on shares of Manhattan Associates in a research note on Wednesday, May 20th. Finally, Weiss Ratings upgraded Manhattan Associates from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, July 14th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $199.45.

Manhattan Associates 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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