Intech Investment Management LLC Buys 8,860 Shares of Manhattan Associates, Inc. $MANH

Key Points

• Intech Investment Management LLC increased its position in Manhattan Associates shares by 27.1%, owning 41,571 shares valued at approximately $7.19 million after acquiring additional shares in the first quarter.
• Several hedge funds have also raised their stakes in Manhattan Associates, including Cetera Investment Advisers with a 38.6% increase and Janus Henderson Group PLC with a 20.5% increase during the previous quarter.
• Manhattan Associates reported $1.31 EPS for the last quarter, surpassing estimates of $1.12, with a revenue of $272.42 million, reflecting a 2.7% year-over-year growth.

Intech Investment Management LLC lifted its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 27.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 41,571 shares of the software maker's stock after buying an additional 8,860 shares during the quarter. Intech Investment Management LLC owned about 0.07% of Manhattan Associates worth $7,193,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Manhattan Associates by 101.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,100,410 shares of the software maker's stock valued at $190,415,000 after acquiring an additional 554,840 shares during the period. Northern Trust Corp increased its stake in shares of Manhattan Associates by 6.3% during the first quarter. Northern Trust Corp now owns 809,894 shares of the software maker's stock worth $140,144,000 after purchasing an additional 48,074 shares during the period. AQR Capital Management LLC increased its stake in shares of Manhattan Associates by 103.0% during the first quarter. AQR Capital Management LLC now owns 684,663 shares of the software maker's stock worth $116,872,000 after purchasing an additional 347,358 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in Manhattan Associates by 1,214.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 606,038 shares of the software maker's stock worth $104,869,000 after purchasing an additional 559,923 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Manhattan Associates by 10.1% in the 1st quarter. Bank of New York Mellon Corp now owns 591,794 shares of the software maker's stock valued at $102,404,000 after purchasing an additional 54,273 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH traded down $3.16 during mid-day trading on Friday, reaching $216.10. The company had a trading volume of 435,532 shares, compared to its average volume of 455,982. The firm has a market cap of $13.07 billion, a price-to-earnings ratio of 60.36 and a beta of 1.13. The business's 50-day simple moving average is $212.02 and its 200 day simple moving average is $190.84. Manhattan Associates, Inc. has a one year low of $140.81 and a one year 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 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.19. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The business had revenue of $272.42 million during the quarter, compared to analysts' expectations of $263.62 million. During the same quarter in the prior year, the business posted $1.18 earnings per share. Manhattan Associates's revenue was up 2.7% compared to the same quarter last year. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. On average, sell-side analysts anticipate that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

Insider Buying and Selling

In related news, Chairman Eddie Capel sold 37,342 shares of Manhattan Associates stock in a transaction that occurred 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 of the company's stock, valued at $36,212,673.84. This trade represents a 18.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP James Stewart Gantt sold 2,300 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $220.33, for a total transaction of $506,759.00. Following the transaction, the executive vice president owned 48,660 shares of the company's stock, valued at approximately $10,721,257.80. This represents a 4.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,666 shares of company stock worth $9,251,781. Corporate insiders own 0.72% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on MANH. DA Davidson increased their price objective on Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Robert W. Baird upped their price target on shares of Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Morgan Stanley started coverage on shares of Manhattan Associates in a research report on Monday, July 14th. They set an "underweight" rating and a $190.00 price target on the stock. Redburn Atlantic downgraded shares of Manhattan Associates from a "buy" rating to a "neutral" rating and cut their price objective for the company from $270.00 to $200.00 in a report on Tuesday, June 10th. Finally, Citigroup restated a "neutral" rating and set a $200.00 target price (up previously from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Manhattan Associates presently has a consensus rating of "Moderate Buy" and an average target price of $216.67.

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.