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

Manhattan Associates logo with Computer and Technology background

Key Points

  • AlphaQuest LLC significantly increased its stake in Manhattan Associates, Inc. by 274.3% during the first quarter, owning 2,534 shares valued at approximately $438,000.
  • Manhattan Associates reported a net margin of 20.91% and surpassed earnings expectations with an EPS of $1.31 for the most recent quarter.
  • Brokerages have expressed positive outlooks on the stock, with DA Davidson raising its price target to $250.00 and several analysts giving it a "buy" rating.
  • Looking to export and analyze Manhattan Associates data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

AlphaQuest LLC increased its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 274.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,534 shares of the software maker's stock after acquiring an additional 1,857 shares during the quarter. AlphaQuest LLC's holdings in Manhattan Associates were worth $438,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Allstate Corp grew its position in Manhattan Associates by 61.5% during the 1st quarter. Allstate Corp now owns 2,717 shares of the software maker's stock worth $470,000 after purchasing an additional 1,035 shares during the last quarter. 1832 Asset Management L.P. grew its position in Manhattan Associates by 17.7% during the 1st quarter. 1832 Asset Management L.P. now owns 8,149 shares of the software maker's stock worth $1,410,000 after purchasing an additional 1,228 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in Manhattan Associates during the 1st quarter worth $19,442,000. Capital Fund Management S.A. purchased a new position in Manhattan Associates during the 1st quarter worth $15,117,000. Finally, Credit Agricole S A grew its position in Manhattan Associates by 1.3% during the 1st quarter. Credit Agricole S A now owns 4,858 shares of the software maker's stock worth $841,000 after purchasing an additional 64 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Trading Down 0.1%

MANH stock opened at $214.64 on Wednesday. The company has a market cap of $12.98 billion, a P/E ratio of 59.96 and a beta of 1.10. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60. The company's 50-day moving average price is $206.71 and its 200 day moving average price is $187.85.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released 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 for 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 was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $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 year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MANH. DA Davidson raised their price objective on shares of Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Truist Financial lifted their target price on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Morgan Stanley initiated coverage on shares of Manhattan Associates in a report on Monday, July 14th. They issued an "underweight" rating and a $190.00 target price on the stock. Citigroup reaffirmed a "neutral" rating and issued a $200.00 target price (up previously from $177.00) on shares of Manhattan Associates in a report on Wednesday, July 16th. Finally, Raymond James Financial lifted their target price 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 analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Manhattan Associates has an average rating of "Moderate Buy" and an average price target of $216.67.

Read Our Latest Stock Report on Manhattan Associates

Insider Buying and Selling

In other Manhattan Associates news, EVP James Stewart Gantt sold 2,300 shares of Manhattan Associates stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $220.33, for a total transaction of $506,759.00. Following the completion of the transaction, the executive vice president owned 48,660 shares in the company, valued at approximately $10,721,257.80. The trade was a 4.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction of $448,376.72. Following the transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,666 shares of company stock valued at $9,251,781. Corporate insiders own 0.72% of the company's stock.

Manhattan Associates Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Manhattan Associates (NASDAQ:MANH)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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