Royal Bank of Canada Acquires 17,561 Shares of Manhattan Associates, Inc. $MANH

Key Points

• Royal Bank of Canada increased its stake in Manhattan Associates, owning approximately 0.78% of the company after acquiring additional shares, showcasing growing institutional interest.
• Manhattan Associates reported strong financial results, with an EPS of $1.31 and revenue of $272.42 million, both exceeding analysts' expectations.
• Analyst ratings have shifted positively, with multiple firms raising their price targets, signaling a consensus view of "Moderate Buy" and average price target of $216.67 for the stock.

Royal Bank of Canada increased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 3.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 473,677 shares of the software maker's stock after buying an additional 17,561 shares during the period. Royal Bank of Canada owned 0.78% of Manhattan Associates worth $81,964,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Park Square Financial Group LLC bought a new position in Manhattan Associates during the fourth quarter worth $38,000. Central Pacific Bank Trust Division increased its stake 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 purchasing an additional 103 shares in the last quarter. Brooklyn Investment Group increased its stake in Manhattan Associates by 70.1% in the first quarter. Brooklyn Investment Group now owns 359 shares of the software maker's stock valued at $62,000 after purchasing an additional 148 shares in the last quarter. Reyes Financial Architecture Inc. increased its stake in Manhattan Associates by 42.5% in the first quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock valued at $82,000 after purchasing an additional 142 shares in the last quarter. Finally, Bayforest Capital Ltd increased its stake in Manhattan Associates by 126.6% in the first quarter. Bayforest Capital Ltd now owns 494 shares of the software maker's stock valued at $85,000 after purchasing an additional 276 shares in the last quarter. Institutional investors own 98.45% of the company's stock.

Manhattan Associates Trading Down 2.0%

Shares of NASDAQ MANH traded down $4.30 during midday trading on Tuesday, hitting $215.03. The company's stock had a trading volume of 158,767 shares, compared to its average volume of 774,494. The stock has a fifty day moving average price of $210.69 and a 200 day moving average price of $189.75. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60. The firm has a market capitalization of $13.00 billion, a price-to-earnings ratio of 59.89 and a beta of 1.13.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted 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. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The business had revenue of $272.42 million for the quarter, compared to analysts' expectations of $263.62 million. During the same period in the prior year, the company posted $1.18 EPS. The business'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. On average, equities research analysts predict that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

Insider Transactions 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 shares were sold at an average price of $221.53, for a total value of $448,376.72. Following the transaction, the director owned 11,907 shares of the company's stock, valued at $2,637,757.71. This represents a 14.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Eddie Capel sold 37,342 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $222.18, for a total transaction of $8,296,645.56. Following the completion of the transaction, the chairman directly owned 162,988 shares in the company, valued at $36,212,673.84. The trade was a 18.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,666 shares of company stock valued at $9,251,781 in the last quarter. Insiders own 0.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. DA Davidson lifted their price objective on shares of Manhattan Associates from $225.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Citigroup reiterated a "neutral" rating and set a $200.00 price objective (up from $177.00) on shares of Manhattan Associates in a report on Wednesday, July 16th. Truist Financial lifted their price objective 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. Redburn Atlantic cut shares of Manhattan Associates from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $270.00 to $200.00 in a report on Tuesday, June 10th. Finally, Loop Capital lifted their price objective on shares of Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a report on Tuesday, July 22nd. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $216.67.

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.