Manhattan Associates, Inc. $MANH Shares Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Manhattan Associates stake by 8.8% in the second quarter, buying 10,265 additional shares for a total holding of 126,378 shares valued at approximately $17.6 million. Institutional investors collectively own 98.45% of the company.
• Manhattan Associates reported quarterly earnings of $1.39 per share, exceeding the $1.32 analyst estimate, while revenue rose 9.3% year over year to $297.79 million. Analysts project full-year earnings of $3.87 per share.
• Analyst sentiment remains positive, with eight Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $209.20. However, company insiders own just 0.84% of shares, and executives recently reported stock sales.

Assenagon Asset Management S.A. boosted its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 8.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,378 shares of the software maker's stock after buying an additional 10,265 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.21% of Manhattan Associates worth $17,598,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MANH. Eagle Bay Advisors LLC purchased a new stake in Manhattan Associates in the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Manhattan Associates by 448.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker's stock valued at $28,000 after acquiring an additional 112 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Manhattan Associates by 508.9% during the 2nd quarter. Versant Capital Management Inc now owns 274 shares of the software maker's stock valued at $38,000 after acquiring an additional 229 shares during the last quarter. BNP Paribas purchased a new stake in shares of Manhattan Associates in the fourth quarter valued at about $39,000. Finally, TD Private Client Wealth LLC grew its holdings in shares of Manhattan Associates by 83.8% in the fourth quarter. TD Private Client Wealth LLC now owns 239 shares of the software maker's stock valued at $41,000 after purchasing an additional 109 shares during the period. Hedge funds and other institutional investors own 98.45% of the company's stock.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $195.23 on Monday. The company has a market capitalization of $11.38 billion, a PE ratio of 55.94 and a beta of 0.93. Manhattan Associates, Inc. has a fifty-two week low of $119.06 and a fifty-two week high of $220.72. The firm has a 50 day moving average price of $155.35 and a 200 day moving average price of $145.87.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.32 by $0.07. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The company had revenue of $297.79 million for the quarter, compared to analysts' expectations of $289.03 million. During the same period in the prior year, the firm earned $1.31 earnings per share. The firm's revenue was up 9.3% compared to the same quarter last year. As a group, equities research analysts forecast that Manhattan Associates, Inc. will post 3.87 earnings per share for the current year.

Analyst Ratings Changes

MANH has been the topic of a number of analyst reports. Robert W. Baird lifted their target price on shares of Manhattan Associates from $186.00 to $218.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 29th. Wall Street Zen cut shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Citigroup raised their price target on shares of Manhattan Associates from $177.00 to $193.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. Stifel Nicolaus upped their price objective on Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, July 29th. Finally, Morgan Stanley set a $180.00 price objective on Manhattan Associates in a report on Wednesday, July 29th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $209.20.

Insider Activity

In related news, EVP James Stewart Gantt sold 5,139 shares of the firm's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the completion of the transaction, the executive vice president directly owned 55,676 shares in the company, valued at $10,886,328.28. This trade represents a 8.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric Andrew Clark sold 1,000 shares of Manhattan Associates stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $146.77, for a total value of $146,770.00. Following the completion of the transaction, the chief executive officer directly owned 92,638 shares of the company's stock, valued at approximately $13,596,479.26. This represents a 1.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.84% of the stock is currently owned by corporate insiders.

About Manhattan Associates

Manhattan Associates, Inc NASDAQ: MANH is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.

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