Royal Bank of Canada Buys 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 holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 3.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 473,677 shares of the software maker's stock after acquiring an additional 17,561 shares during the quarter. Royal Bank of Canada owned about 0.78% of Manhattan Associates worth $81,964,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in MANH. BOKF NA grew its holdings in Manhattan Associates by 0.4% in the 4th quarter. BOKF NA now owns 13,271 shares of the software maker's stock worth $3,522,000 after buying an additional 55 shares in the last quarter. Cordatus Wealth Management LLC increased its holdings in Manhattan Associates by 4.9% during the 1st quarter. Cordatus Wealth Management LLC now owns 1,229 shares of the software maker's stock worth $213,000 after purchasing an additional 57 shares in the last quarter. Credit Agricole S A boosted its holdings in shares of Manhattan Associates by 1.3% during the first quarter. Credit Agricole S A now owns 4,858 shares of the software maker's stock worth $841,000 after acquiring an additional 64 shares during the period. Linden Thomas Advisory Services LLC raised its position in Manhattan Associates by 1.1% during the first quarter. Linden Thomas Advisory Services LLC now owns 6,552 shares of the software maker's stock valued at $1,134,000 after purchasing an additional 73 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in Manhattan Associates by 6.9% during the 1st quarter. Signaturefd LLC now owns 1,285 shares of the software maker's stock worth $222,000 after purchasing an additional 83 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on MANH. DA Davidson boosted 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. Morgan Stanley started coverage on shares of Manhattan Associates in a research note on Monday, July 14th. They set an "underweight" rating and a $190.00 price objective for the company. Robert W. Baird increased their target price on shares of 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 lifted their target price on shares of Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Finally, Truist Financial increased their target price on shares of Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Manhattan Associates presently has a consensus rating of "Moderate Buy" and an average price target of $216.67.

Insiders Place Their Bets

In other Manhattan Associates news, Director Linda T. Hollembaek sold 2,024 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were 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 trade represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Eddie Capel sold 37,342 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chairman owned 162,988 shares of the company's stock, valued at approximately $36,212,673.84. The trade was 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 ninety days. 0.72% of the stock is owned by corporate insiders.

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock traded up $3.15 on Monday, reaching $218.46. 296,630 shares of the company's stock were exchanged, compared to its average volume of 776,691. The company has a market capitalization of $13.21 billion, a P/E ratio of 60.99 and a beta of 1.13. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60. The firm's 50-day moving average is $210.25 and its two-hundred day moving average is $189.49.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its quarterly 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 during the quarter, compared to analyst estimates of $263.62 million. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%.The company's revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.18 earnings per share. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. On average, analysts expect that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.

About Manhattan Associates

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.