1832 Asset Management L.P. Boosts Stake in Manhattan Associates, Inc. $MANH

Key Points

• 1832 Asset Management L.P. increased its holdings in Manhattan Associates, Inc. by 17.7%, owning 8,149 shares valued at approximately $1.41 million.
• Manhattan Associates reported a Q2 EPS of $1.31, exceeding analysts' expectations, with revenue reaching $272.42 million.
• The company's stock has seen significant interest from institutional investors, with 98.45% of shares owned by such entities.

1832 Asset Management L.P. grew its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 17.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,149 shares of the software maker's stock after buying an additional 1,228 shares during the quarter. 1832 Asset Management L.P.'s holdings in Manhattan Associates were worth $1,410,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Northern Trust Corp lifted its holdings in shares of Manhattan Associates by 6.3% in the 1st quarter. Northern Trust Corp now owns 809,894 shares of the software maker's stock valued at $140,144,000 after buying an additional 48,074 shares during the period. Bank of New York Mellon Corp raised its holdings in Manhattan Associates by 10.1% during the first quarter. Bank of New York Mellon Corp now owns 591,794 shares of the software maker's stock worth $102,404,000 after purchasing an additional 54,273 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Manhattan Associates by 5.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 545,570 shares of the software maker's stock worth $147,435,000 after purchasing an additional 27,621 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Manhattan Associates by 11.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 449,632 shares of the software maker's stock worth $77,804,000 after purchasing an additional 45,743 shares during the last quarter. Finally, Lazard Asset Management LLC raised its holdings in Manhattan Associates by 2,075.5% during the fourth quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker's stock worth $107,842,000 after purchasing an additional 380,722 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, Director Linda T. Hollembaek sold 2,024 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $221.53, for a total transaction of $448,376.72. Following the completion of the sale, the director owned 11,907 shares of the company's stock, valued at approximately $2,637,757.71. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James Stewart Gantt sold 2,300 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $220.33, for a total value of $506,759.00. Following the sale, the executive vice president directly owned 48,660 shares of the company's stock, valued at approximately $10,721,257.80. This trade represents a 4.51% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,666 shares of company stock valued at $9,251,781. Company insiders own 0.88% of the company's stock.

Manhattan Associates Stock Down 0.2%

Shares of NASDAQ:MANH traded down $0.45 during midday trading on Thursday, reaching $218.46. The company's stock had a trading volume of 516,498 shares, compared to its average volume of 499,973. The firm has a market cap of $13.21 billion, a price-to-earnings ratio of 61.02 and a beta of 1.10. Manhattan Associates, Inc. has a 1 year low of $140.81 and a 1 year high of $312.60. The business has a 50 day moving average price of $207.92 and a 200 day moving average price of $188.34.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.19. The business had revenue of $272.42 million during the quarter, compared to the consensus estimate of $263.62 million. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%.The business's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.18 earnings per share. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. Sell-side analysts anticipate that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Raymond James Financial lifted their price objective on Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Robert W. Baird raised their price target on Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Truist Financial raised their price target on Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. DA Davidson raised their price target on Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Redburn Atlantic downgraded Manhattan Associates from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $270.00 to $200.00 in a research report on Tuesday, June 10th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $216.67.

About Manhattan Associates

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.