Manhattan Associates, Inc. $MANH Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP significantly reduced its stake in Manhattan Associates, selling 10,506 shares and decreasing its ownership by 85.3% to 1,810 shares, valued at $313,000.
• Manhattan Associates' stock received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and an average price target of $216.67, despite a drop of 2.6% in its stock price.
• The company reported better-than-expected earnings of $1.31 per share for the latest quarter, with revenues reaching $272.42 million, surpassing analysts' estimates of $263.62 million.

Wellington Management Group LLP lessened its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 85.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,810 shares of the software maker's stock after selling 10,506 shares during the quarter. Wellington Management Group LLP's holdings in Manhattan Associates were worth $313,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Park Square Financial Group LLC acquired a new stake in shares of Manhattan Associates during the fourth quarter worth about $38,000. Central Pacific Bank Trust Division raised its position in Manhattan Associates by 107.3% during the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock worth $34,000 after buying an additional 103 shares during the last quarter. Brooklyn Investment Group lifted its stake in Manhattan Associates by 70.1% during the 1st quarter. Brooklyn Investment Group now owns 359 shares of the software maker's stock valued at $62,000 after acquiring an additional 148 shares during the period. Reyes Financial Architecture Inc. boosted its holdings in shares of Manhattan Associates by 42.5% in the 1st quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock valued at $82,000 after acquiring an additional 142 shares during the last quarter. Finally, Bayforest Capital Ltd increased its stake in shares of Manhattan Associates by 126.6% in the first quarter. Bayforest Capital Ltd now owns 494 shares of the software maker's stock worth $85,000 after acquiring an additional 276 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MANH has been the subject of a number of research reports. Truist Financial boosted their target price on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Morgan Stanley initiated coverage on Manhattan Associates in a research note on Monday, July 14th. They set an "underweight" rating and a $190.00 price objective for the company. DA Davidson upped their target price on Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Citigroup reiterated a "neutral" rating and set a $200.00 price target (up from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Finally, Redburn Atlantic downgraded Manhattan Associates from a "buy" rating to a "neutral" rating and decreased their price target for the company from $270.00 to $200.00 in a report on Tuesday, June 10th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $216.67.

Manhattan Associates Stock Down 2.6%

NASDAQ:MANH opened at $209.86 on Wednesday. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60. The stock's 50-day moving average price is $209.26 and its 200-day moving average price is $188.97. The stock has a market capitalization of $12.69 billion, a PE ratio of 58.62 and a beta of 1.13.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.19. The company had revenue of $272.42 million during the quarter, compared to analysts' expectations of $263.62 million. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%.Manhattan Associates's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.18 EPS. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. Sell-side analysts expect that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

Insider Transactions at Manhattan Associates

In other news, EVP James Stewart Gantt sold 2,300 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 48,660 shares in the company, valued at $10,721,257.80. This trade represents a 4.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the director directly owned 11,907 shares in the company, valued at $2,637,757.71. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,666 shares of company stock valued at $9,251,781 in the last three months. 0.72% of the stock is currently owned by company insiders.

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.

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