Swedbank AB Purchases 430,981 Shares of Manhattan Associates, Inc. $MANH

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 position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 116.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 800,000 shares of the software maker's stock after buying an additional 430,981 shares during the period. Swedbank AB owned 1.32% of Manhattan Associates worth $138,432,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division increased its stake in shares of Manhattan Associates by 107.3% during the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock worth $34,000 after purchasing an additional 103 shares during the last quarter. Park Square Financial Group LLC purchased a new stake in shares of Manhattan Associates during the 4th quarter worth approximately $38,000. Brooklyn Investment Group increased its stake in shares of Manhattan Associates by 70.1% during the 1st quarter. Brooklyn Investment Group now owns 359 shares of the software maker's stock worth $62,000 after purchasing an additional 148 shares during the last quarter. Reyes Financial Architecture Inc. increased its stake in shares of Manhattan Associates by 42.5% during the 1st quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock worth $82,000 after purchasing an additional 142 shares during the last quarter. Finally, Bayforest Capital Ltd increased its stake in shares of Manhattan Associates by 126.6% during the 1st quarter. Bayforest Capital Ltd now owns 494 shares of the software maker's stock worth $85,000 after purchasing an additional 276 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Insider Activity

In other Manhattan Associates news, EVP James Stewart Gantt sold 2,300 shares of the company'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 owned 48,660 shares in the company, valued at approximately $10,721,257.80. This represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Linda T. Hollembaek sold 2,024 shares of the company'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 in the company, valued at approximately $2,637,757.71. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,666 shares of company stock valued at $9,251,781. Insiders own 0.72% of the company's stock.

Manhattan Associates Price Performance

Manhattan Associates stock traded up $2.73 during mid-day trading on Wednesday, hitting $217.00. The company's stock had a trading volume of 153,069 shares, compared to its average volume of 765,581. The stock has a market cap of $13.12 billion, a price-to-earnings ratio of 60.57 and a beta of 1.13. The business has a 50 day moving average price of $212.46 and a 200-day moving average price of $191.24. 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 posted its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, topping the consensus estimate 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 net margin of 20.91% and a return on equity of 82.91%. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.18 earnings per share. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. On average, equities research analysts expect that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Manhattan Associates 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.