Manhattan Associates, Inc. $MANH Shares Bought by Swedbank AB

Key Points

• Swedbank AB significantly increased its stake in Manhattan Associates, acquiring an additional 430,981 shares to bring its total holdings to 800,000 shares, valued at approximately $138.4 million.
• A recent report indicated a mixed sentiment among analysts, with Redburn Atlantic downgrading the stock to "neutral" but Truist Financial and DA Davidson raising their price targets to between $230 and $250.
• Insider selling was noted, with EVP James Stewart Gantt selling 2,300 shares for over $506,000, while overall, insiders sold a total of 41,666 shares worth approximately $9.25 million in the last quarter.

Swedbank AB raised its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 116.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 800,000 shares of the software maker's stock after acquiring an additional 430,981 shares during the quarter. Swedbank AB owned 1.32% of Manhattan Associates worth $138,432,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Park Square Financial Group LLC acquired a new stake in Manhattan Associates in the fourth quarter valued at $38,000. Central Pacific Bank Trust Division lifted its holdings in Manhattan Associates by 107.3% in the first quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock valued at $34,000 after acquiring an additional 103 shares during the period. Brooklyn Investment Group lifted its holdings in Manhattan Associates by 70.1% in the first quarter. Brooklyn Investment Group now owns 359 shares of the software maker's stock valued at $62,000 after acquiring an additional 148 shares during the period. Reyes Financial Architecture Inc. lifted its holdings in Manhattan Associates by 42.5% in the first quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock valued at $82,000 after acquiring an additional 142 shares during the period. Finally, Bayforest Capital Ltd lifted its holdings in Manhattan Associates by 126.6% in the first quarter. Bayforest Capital Ltd now owns 494 shares of the software maker's stock valued at $85,000 after acquiring an additional 276 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MANH shares. Redburn Atlantic downgraded Manhattan Associates from a "buy" rating to a "neutral" rating and reduced their target price for the company from $270.00 to $200.00 in a report on Tuesday, June 10th. Truist Financial raised their target price on Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. DA Davidson lifted their price target on Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Loop Capital lifted their price target on Manhattan Associates from $170.00 to $200.00 and gave the stock a "hold" rating in a research note on Tuesday, July 22nd. Finally, Raymond James Financial lifted their price target on Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $216.67.

Insider Buying and Selling

In related news, EVP James Stewart Gantt sold 2,300 shares of Manhattan Associates stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $220.33, for a total transaction of $506,759.00. Following the completion of the sale, the executive vice president owned 48,660 shares in the company, valued at approximately $10,721,257.80. This trade represents a 4.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 owned 11,907 shares of the company's stock, valued at approximately $2,637,757.71. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,666 shares of company stock worth $9,251,781. 0.88% of the stock is owned by corporate insiders.

Manhattan Associates Trading Up 3.3%

Manhattan Associates stock opened at $219.26 on Friday. The stock has a market cap of $13.26 billion, a PE ratio of 61.25 and a beta of 1.13. The stock has a 50-day moving average price of $211.70 and a 200 day moving average price of $190.37. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.19. The firm had revenue of $272.42 million during the quarter, compared to analysts' expectations of $263.62 million. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%.The firm's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.18 EPS. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. On average, equities analysts predict that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

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.

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