Eventide Asset Management LLC Decreases Stock Holdings in Manhattan Associates, Inc. $MANH

Key Points

• Eventide Asset Management LLC significantly decreased its holdings in Manhattan Associates by 86.1%, owning only 4,177 shares after selling a substantial amount during the first quarter.
• Manhattan Associates reported earnings of $1.31 EPS for the quarter, exceeding analysts' expectations, and projected FY 2025 guidance at 4.760-4.840 EPS.
• Insider transactions included the sale of 41,666 shares by company executives, indicating a significant reduction in their ownership stakes.

Eventide Asset Management LLC reduced its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 86.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,177 shares of the software maker's stock after selling 25,783 shares during the quarter. Eventide Asset Management LLC's holdings in Manhattan Associates were worth $723,000 at the end of the most recent reporting period.

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

Manhattan Associates Stock Down 1.0%

Shares of NASDAQ MANH traded down $2.13 during trading on Wednesday, reaching $213.49. The company had a trading volume of 112,099 shares, compared to its average volume of 772,901. The company's fifty day moving average price is $211.04 and its 200-day moving average price is $189.93. Manhattan Associates, Inc. has a 12 month low of $140.81 and a 12 month high of $312.60. The stock has a market cap of $12.91 billion, a P/E ratio of 59.62 and a beta of 1.13.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The software maker reported $1.31 EPS for the quarter, beating the consensus estimate of $1.12 by $0.19. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%.The company had revenue of $272.42 million for the quarter, compared to analyst estimates of $263.62 million. During the same quarter in the prior year, the company earned $1.18 EPS. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. 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 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. DA Davidson increased their target price on Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Truist Financial upped their price target on Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Morgan Stanley assumed coverage on Manhattan Associates in a research note on Monday, July 14th. They set an "underweight" rating and a $190.00 price target on the stock. Loop Capital upped their price target on Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a research note on Tuesday, July 22nd. Finally, Raymond James Financial upped their price target on Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Manhattan Associates currently has an average rating of "Moderate Buy" and an average target price of $216.67.

Insider Buying and Selling

In related news, Director Linda T. Hollembaek sold 2,024 shares of the company's stock in a transaction that occurred 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 approximately $2,637,757.71. This represents a 14.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Eddie Capel sold 37,342 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $222.18, for a total value of $8,296,645.56. Following the transaction, the chairman directly owned 162,988 shares in the company, valued at approximately $36,212,673.84. This trade represents a 18.64% 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 valued at $9,251,781. 0.72% of the stock is owned by company insiders.

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.