Manhattan Associates, Inc. $MANH Shares Sold by Eventide Asset Management LLC

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 cut its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 86.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 quarter.

A number of other hedge funds have also made changes to their positions in the stock. Algert Global LLC acquired a new position in Manhattan Associates during the 4th quarter worth $248,000. Captrust Financial Advisors increased its holdings 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 buying an additional 1,297 shares during the last quarter. BOKF NA raised its stake in Manhattan Associates by 0.4% during the fourth quarter. BOKF NA now owns 13,271 shares of the software maker's stock valued at $3,522,000 after buying an additional 55 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Manhattan Associates by 38.6% during the 4th quarter. Cetera Investment Advisers now owns 5,902 shares of the software maker's stock worth $1,595,000 after buying an additional 1,645 shares during the last quarter. Finally, Crestline Management LP bought a new position in Manhattan Associates during the 4th quarter worth approximately $1,193,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Manhattan Associates Price Performance

Shares of MANH stock traded down $3.72 during trading hours on Tuesday, reaching $215.61. The stock had a trading volume of 536,606 shares, compared to its average volume of 776,789. The firm has a market capitalization of $13.04 billion, a PE ratio of 60.23 and a beta of 1.13. The firm has a 50-day simple moving average of $210.69 and a 200-day simple moving average of $189.75. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MANH. Robert W. Baird upped their price target on Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Raymond James Financial raised their price target on shares of Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Truist Financial lifted their price target on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Citigroup reaffirmed a "neutral" rating and set a $200.00 price objective (up previously from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Finally, DA Davidson increased their price objective 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. Six equities research 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. According to MarketBeat, Manhattan Associates currently has a consensus rating of "Moderate Buy" and a consensus target price of $216.67.

Insider Activity at Manhattan Associates

In other news, Director Linda T. Hollembaek sold 2,024 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $221.53, for a total value of $448,376.72. Following the completion of the transaction, the director owned 11,907 shares of the company's stock, valued at approximately $2,637,757.71. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Eddie Capel sold 37,342 shares of Manhattan Associates stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $222.18, for a total transaction of $8,296,645.56. Following the sale, the chairman owned 162,988 shares in the company, valued at approximately $36,212,673.84. This represents a 18.64% 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 in the last three months. 0.88% of the stock is 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.