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 trimmed its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 85.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Algert Global LLC purchased a new stake in Manhattan Associates in the fourth quarter valued at approximately $248,000. Caxton Associates LP purchased a new stake in Manhattan Associates in the fourth quarter valued at approximately $791,000. Captrust Financial Advisors raised its stake in Manhattan Associates by 26.5% in the fourth quarter. Captrust Financial Advisors now owns 6,194 shares of the software maker's stock valued at $1,674,000 after purchasing an additional 1,297 shares in the last quarter. Bridgefront Capital LLC purchased a new stake in Manhattan Associates in the fourth quarter valued at approximately $363,000. Finally, BOKF NA raised its stake in Manhattan Associates by 0.4% in the fourth quarter. BOKF NA now owns 13,271 shares of the software maker's stock valued at $3,522,000 after purchasing an additional 55 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MANH has been the topic of several research reports. Redburn Atlantic downgraded shares of Manhattan Associates from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $270.00 to $200.00 in a research note on Tuesday, June 10th. Robert W. Baird lifted their price target on shares of Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Raymond James Financial lifted their price target on shares of Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. DA Davidson lifted their price target on shares of Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, Truist Financial lifted their price target on shares of Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $216.67.

Insider Activity 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 completion of the transaction, the executive vice president directly owned 48,660 shares in the company, valued at approximately $10,721,257.80. This represents a 4.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Linda T. Hollembaek sold 2,024 shares of Manhattan Associates stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $221.53, for a total transaction of $448,376.72. Following the transaction, the director directly owned 11,907 shares of the company's stock, valued at $2,637,757.71. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,666 shares of company stock worth $9,251,781 over the last quarter. Corporate insiders own 0.72% of the company's stock.

Manhattan Associates Stock Up 2.6%

Shares of Manhattan Associates stock traded up $5.45 on Friday, hitting $215.31. The stock had a trading volume of 394,168 shares, compared to its average volume of 458,375. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60. The stock has a market cap of $13.02 billion, a price-to-earnings ratio of 60.14 and a beta of 1.13. The stock's 50-day simple moving average is $210.25 and its two-hundred day simple moving average is $189.49.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.19. The firm had revenue of $272.42 million for the quarter, compared to analysts' expectations of $263.62 million. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The business's revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business earned $1.18 earnings per share. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. As a group, equities analysts predict that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.

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.