Manhattan Associates, Inc. $MANH Shares Bought by AlphaQuest LLC

Key Points

• AlphaQuest LLC significantly increased its stake in Manhattan Associates, acquiring a total of 5,282 shares, valued at approximately $1.04 million, indicating strong institutional interest in the company.
• Several brokerages have adjusted their price targets for Manhattan Associates, with Stifel Nicolaus lowering its target from $250.00 to $240.00 while maintaining a "buy" rating, reflecting a cautious outlook amidst recent stock price fluctuations.
• Manhattan Associates reported a 12-month high of $312.60 for its stock, with most recent earnings per share of $1.36, exceeding analysts' estimates and showcasing a modest year-over-year revenue increase of 3.4%.

AlphaQuest LLC grew its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 108.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 5,282 shares of the software maker's stock after acquiring an additional 2,748 shares during the quarter. AlphaQuest LLC's holdings in Manhattan Associates were worth $1,043,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC acquired a new position in Manhattan Associates during the 1st quarter worth $214,000. Allianz Asset Management GmbH lifted 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 buying an additional 22,845 shares during the period. IFM Investors Pty Ltd lifted its holdings in shares of Manhattan Associates by 11.0% in the first quarter. IFM Investors Pty Ltd now owns 13,201 shares of the software maker's stock valued at $2,284,000 after buying an additional 1,303 shares during the period. Bridges Investment Management Inc. lifted its holdings in shares of Manhattan Associates by 111.3% in the first quarter. Bridges Investment Management Inc. now owns 4,353 shares of the software maker's stock valued at $753,000 after buying an additional 2,293 shares during the period. Finally, Inspire Investing LLC lifted its holdings in shares of Manhattan Associates by 243.7% in the first quarter. Inspire Investing LLC now owns 22,948 shares of the software maker's stock valued at $3,971,000 after buying an additional 16,271 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MANH. Stifel Nicolaus cut their price objective on Manhattan Associates from $250.00 to $240.00 and set a "buy" rating for the company in a report on Wednesday. Barclays cut their price objective on Manhattan Associates from $247.00 to $244.00 and set an "overweight" rating for the company in a report on Wednesday. Raymond James Financial cut their price objective on Manhattan Associates from $250.00 to $240.00 and set an "outperform" rating for the company in a report on Wednesday. Loop Capital upped their price objective on Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a report on Tuesday, July 22nd. Finally, Truist Financial set a $230.00 target price on Manhattan Associates in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $222.83.

Insider Buying and Selling at Manhattan Associates

In related news, Director Linda T. Hollembaek sold 2,024 shares of the company's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $221.53, for a total transaction of $448,376.72. Following the transaction, the director directly 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Eddie Capel sold 37,342 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $222.18, for a total value of $8,296,645.56. Following the transaction, the chairman directly owned 162,988 shares in the company, valued at $36,212,673.84. The trade was a 18.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.

Manhattan Associates Stock Up 0.1%

Shares of Manhattan Associates stock opened at $194.85 on Friday. The stock's fifty day moving average is $208.78 and its 200-day moving average is $198.20. The firm has a market capitalization of $11.78 billion, a PE ratio of 55.51 and a beta of 1.12. Manhattan Associates, Inc. has a 12-month low of $140.81 and a 12-month high of $312.60.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its earnings results on Tuesday, October 21st. The software maker reported $1.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.18. The company had revenue of $275.80 million for the quarter, compared to analyst estimates of $271.66 million. Manhattan Associates had a return on equity of 78.80% and a net margin of 20.25%.Manhattan Associates's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.35 earnings per share. Manhattan Associates has set its FY 2025 guidance at 4.950-4.970 EPS. Analysts expect that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

Manhattan Associates Company 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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