Manhattan Associates, Inc. $MANH Stake Reduced by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management cut its stake in Manhattan Associates by 12.1% in the fourth quarter, selling 21,687 shares and ending with 157,733 shares valued at about $27.3 million.
• Insiders sold shares recently, including EVP James Stewart Gantt and CEO Eric Andrew Clark, though insiders still own a small portion of the company at 0.84%.
• Analysts remain mostly positive on MANH, with an average rating of Moderate Buy and a consensus price target of $199.45, while the company also authorized a $500 million share buyback.

Panagora Asset Management Inc. reduced its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 12.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,733 shares of the software maker's stock after selling 21,687 shares during the quarter. Panagora Asset Management Inc. owned about 0.26% of Manhattan Associates worth $27,337,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in Manhattan Associates by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker's stock worth $305,199,000 after buying an additional 88,005 shares during the last quarter. MUFG Securities EMEA plc bought a new position in Manhattan Associates during the 4th quarter worth $6,066,000. VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in Manhattan Associates by 30.6% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 187,555 shares of the software maker's stock worth $32,505,000 after buying an additional 43,955 shares during the last quarter. John G Ullman & Associates Inc. bought a new position in Manhattan Associates during the 4th quarter worth $2,106,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in Manhattan Associates by 771.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 63,117 shares of the software maker's stock worth $10,939,000 after buying an additional 55,877 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP James Stewart Gantt sold 7,300 shares of the firm's stock in a transaction dated 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 completion of the transaction, the executive vice president owned 60,815 shares of the company's stock, valued at $8,468,488.75. This trade represents a 10.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric Andrew Clark sold 1,000 shares of the firm's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $146.77, for a total value of $146,770.00. Following the transaction, the chief executive officer directly owned 92,638 shares of the company's stock, valued at $13,596,479.26. This represents a 1.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.84% of the company's stock.

Analyst Upgrades and Downgrades

MANH has been the subject of several recent analyst reports. DA Davidson reissued a "buy" rating and issued a $200.00 price target on shares of Manhattan Associates in a research note on Wednesday, May 20th. Citigroup decreased their price target on Manhattan Associates from $208.00 to $177.00 and set a "buy" rating for the company in a research note on Wednesday, April 22nd. Wall Street Zen cut Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Saturday, May 23rd. Stifel Nicolaus set a $200.00 price target on Manhattan Associates in a research note on Wednesday, May 20th. Finally, William Blair reissued an "outperform" rating on shares of Manhattan Associates in a research note on Thursday, March 5th. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $199.45.

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $143.89 on Tuesday. Manhattan Associates, Inc. has a 1 year low of $119.06 and a 1 year high of $247.22. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 40.31 and a beta of 0.97. The business has a fifty day moving average of $138.59 and a 200-day moving average of $150.61.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its earnings results on Tuesday, April 21st. The software maker reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.14. Manhattan Associates had a return on equity of 78.13% and a net margin of 19.68%.The business had revenue of $282.22 million during the quarter, compared to analysts' expectations of $273.71 million. During the same quarter last year, the business posted $1.19 earnings per share. The company's quarterly revenue was up 7.4% on a year-over-year basis. Manhattan Associates has set its FY 2026 guidance at 5.290-5.370 EPS. On average, equities research analysts predict that Manhattan Associates, Inc. will post 3.68 EPS for the current year.

Manhattan Associates declared that its Board of Directors has authorized a stock buyback plan on Thursday, March 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the software maker to reacquire up to 5.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Manhattan Associates 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.