Manhattan Associates, Inc. $MANH Shares Sold by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS reduced its holdings in Manhattan Associates shares by 8.9% in Q2, resulting in ownership of 41,000 shares worth $8,096,000.
• Insiders have sold 41,666 shares of Manhattan Associates stock in the last three months, reducing their collective ownership to 0.88% of the company.
• Analysts have set a consensus rating of "Moderate Buy" for Manhattan Associates, with an average target price of $222.45.

KLP Kapitalforvaltning AS cut its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 8.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,000 shares of the software maker's stock after selling 4,000 shares during the period. KLP Kapitalforvaltning AS owned about 0.07% of Manhattan Associates worth $8,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MANH. Cordatus Wealth Management LLC grew its stake in shares of Manhattan Associates by 4.9% in the 1st quarter. Cordatus Wealth Management LLC now owns 1,229 shares of the software maker's stock valued at $213,000 after buying an additional 57 shares during the period. Credit Agricole S A grew its stake in shares of Manhattan Associates by 1.3% in the 1st quarter. Credit Agricole S A now owns 4,858 shares of the software maker's stock valued at $841,000 after buying an additional 64 shares during the period. Quent Capital LLC grew its stake in shares of Manhattan Associates by 3.5% in the 2nd quarter. Quent Capital LLC now owns 1,947 shares of the software maker's stock valued at $384,000 after buying an additional 65 shares during the period. Linden Thomas Advisory Services LLC boosted its position in shares of Manhattan Associates by 1.1% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 6,552 shares of the software maker's stock worth $1,134,000 after purchasing an additional 73 shares during the period. Finally, Signaturefd LLC boosted its position in shares of Manhattan Associates by 6.9% during the 1st quarter. Signaturefd LLC now owns 1,285 shares of the software maker's stock worth $222,000 after purchasing an additional 83 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Linda T. Hollembaek sold 2,024 shares of Manhattan Associates stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total transaction of $448,376.72. Following the sale, the director directly owned 11,907 shares in the company, valued at $2,637,757.71. This trade represents a 14.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James Stewart Gantt sold 2,300 shares of Manhattan Associates stock in a transaction on Friday, July 25th. The stock was sold at an average price of $220.33, for a total transaction of $506,759.00. Following the sale, the executive vice president owned 48,660 shares in the company, valued at $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 three months, insiders have sold 41,666 shares of company stock worth $9,251,781. 0.88% of the stock is currently owned by corporate insiders.

Manhattan Associates Trading Down 2.6%

Shares of MANH opened at $203.51 on Friday. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60. The firm's fifty day simple moving average is $212.25 and its 200-day simple moving average is $195.46. The firm has a market capitalization of $12.31 billion, a price-to-earnings ratio of 56.85 and a beta of 1.12.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $263.62 million. During the same period last year, the business earned $1.18 EPS. The company's revenue was up 2.7% on a year-over-year basis. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. On average, analysts predict that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on MANH. Stifel Nicolaus began coverage on shares of Manhattan Associates in a research report on Tuesday. They set a "buy" rating and a $250.00 price objective for the company. Robert W. Baird increased their price objective on shares of Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Truist Financial increased their price objective on shares of Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Morgan Stanley began coverage on shares of Manhattan Associates in a research report on Monday, July 14th. They set an "underweight" rating and a $190.00 price objective for the company. Finally, Loop Capital increased their price objective on shares of Manhattan Associates from $170.00 to $200.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $222.45.

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.

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