Manhattan Associates, Inc. $MANH Shares Sold by Truist Financial Corp

Key Points

• Truist Financial Corp reduced its stake in Manhattan Associates by 58.3% in the fourth quarter, selling 10,407 shares and leaving it with 7,445 shares valued at about $1.29 million.
• Manhattan Associates reported better-than-expected quarterly results, posting EPS of $1.24 versus the $1.10 estimate and revenue of $282.22 million, up 7.4% year over year.
• The company also announced a $500 million share buyback, while analysts currently maintain a consensus rating of Moderate Buy with an average price target of $202.91.

Truist Financial Corp cut its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 58.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 7,445 shares of the software maker's stock after selling 10,407 shares during the period. Truist Financial Corp's holdings in Manhattan Associates were worth $1,290,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MANH. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Manhattan Associates by 72.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,245 shares of the software maker's stock worth $2,124,000 after acquiring an additional 5,128 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Manhattan Associates by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 500,068 shares of the software maker's stock worth $86,532,000 after acquiring an additional 41,571 shares in the last quarter. Empowered Funds LLC acquired a new position in Manhattan Associates during the 1st quarter worth approximately $987,000. Focus Partners Wealth lifted its position in Manhattan Associates by 181.4% during the 1st quarter. Focus Partners Wealth now owns 2,400 shares of the software maker's stock worth $415,000 after acquiring an additional 1,547 shares in the last quarter. Finally, Sivia Capital Partners LLC acquired a new position in Manhattan Associates during the 2nd quarter worth approximately $446,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Stock Up 1.8%

Shares of MANH opened at $131.32 on Friday. The business's 50 day moving average is $136.33 and its two-hundred day moving average is $155.63. Manhattan Associates, Inc. has a 52-week low of $119.06 and a 52-week high of $247.22. The firm has a market cap of $7.77 billion, a price-to-earnings ratio of 36.78 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The software maker reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.14. The business had revenue of $282.22 million for the quarter, compared to analyst estimates of $273.71 million. Manhattan Associates had a return on equity of 78.13% and a net margin of 19.68%.The business's revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.19 EPS. Manhattan Associates has set its FY 2026 guidance at 5.290-5.370 EPS. On average, equities analysts expect that Manhattan Associates, Inc. will post 3.75 earnings per share for the current fiscal year.

Manhattan Associates announced that its board has initiated a stock buyback plan on Thursday, March 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the software maker to purchase up to 5.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

MANH has been the topic of a number of recent analyst reports. Weiss Ratings lowered Manhattan Associates from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, April 27th. William Blair reaffirmed an "outperform" rating on shares of Manhattan Associates in a research report on Thursday, March 5th. DA Davidson cut their target price on Manhattan Associates from $240.00 to $200.00 and set a "buy" rating on the stock in a research report on Wednesday, April 22nd. Stifel Nicolaus cut their target price on Manhattan Associates from $225.00 to $200.00 and set a "buy" rating on the stock in a research report on Wednesday, April 22nd. Finally, Wall Street Zen raised Manhattan Associates from a "hold" rating to a "buy" rating in a research report on Saturday, March 21st. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Manhattan Associates currently has a consensus rating of "Moderate Buy" and an average price target of $202.91.

Insider Activity

In related news, EVP James Stewart Gantt sold 7,300 shares of the company's stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $139.25, for a total transaction of $1,016,525.00. Following the sale, the executive vice president directly owned 60,815 shares of the company's stock, valued at approximately $8,468,488.75. This represents a 10.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.84% of the company's stock.

Manhattan Associates Company Profile

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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