Manhattan Associates, Inc. $MANH Stock Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Manhattan Associates position by 84.5% in the third quarter, selling 106,775 shares and retaining 19,603 shares worth approximately $3.9 million.
• Manhattan Associates reported quarterly EPS of $1.39, beating estimates of $1.32, while revenue rose 9.3% year over year to $297.79 million. The stock opened at $232.86, near its 52-week high of $233.32.
• Analysts remain broadly positive, with nine Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $230.40; however, DA Davidson downgraded the stock to Neutral with a $210 target.

Assenagon Asset Management S.A. cut its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 84.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,603 shares of the software maker's stock after selling 106,775 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Manhattan Associates were worth $3,895,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MANH. Curated Wealth Partners LLC bought a new stake in Manhattan Associates during the 3rd quarter valued at $591,000. Krilogy Financial LLC increased its holdings in shares of Manhattan Associates by 7.7% during the third quarter. Krilogy Financial LLC now owns 3,678 shares of the software maker's stock valued at $801,000 after purchasing an additional 264 shares during the period. NorthCrest Asset Manangement LLC boosted its holdings in shares of Manhattan Associates by 7.4% in the third quarter. NorthCrest Asset Manangement LLC now owns 1,772 shares of the software maker's stock valued at $366,000 after acquiring an additional 122 shares in the last quarter. Wedmont Private Capital increased its stake in shares of Manhattan Associates by 18.0% during the third quarter. Wedmont Private Capital now owns 1,527 shares of the software maker's stock valued at $316,000 after acquiring an additional 233 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Manhattan Associates by 80.0% during the third quarter. GAMMA Investing LLC now owns 2,802 shares of the software maker's stock valued at $557,000 after acquiring an additional 1,245 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Manhattan Associates news, EVP James Gantt sold 5,139 shares of the firm's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $195.53, for a total value of $1,004,828.67. Following the completion of the transaction, the executive vice president directly owned 55,676 shares in the company, valued at $10,886,328.28. This trade represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Eric Clark sold 3,000 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total transaction of $593,280.00. Following the completion of the transaction, the chief executive officer directly owned 89,638 shares in the company, valued at approximately $17,726,810.88. This trade represents a 3.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.84% of the company's stock.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH opened at $232.86 on Wednesday. Manhattan Associates, Inc. has a one year low of $119.06 and a one year high of $233.32. The stock has a fifty day moving average of $210.61 and a 200-day moving average of $169.87. The company has a market capitalization of $13.58 billion, a PE ratio of 66.72 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.32 by $0.07. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%. The company had revenue of $297.79 million for the quarter, compared to analyst estimates of $289.03 million. During the same period in the previous year, the firm earned $1.31 earnings per share. Manhattan Associates's revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, research analysts forecast that Manhattan Associates, Inc. will post 3.87 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on MANH. Robert W. Baird boosted their target price on Manhattan Associates from $218.00 to $260.00 and gave the stock an "outperform" rating in a report on Wednesday, August 26th. UBS Group reiterated a "buy" rating on shares of Manhattan Associates in a research report on Wednesday, October 14th. DA Davidson cut Manhattan Associates from a "buy" rating to a "neutral" rating and set a $210.00 price target on the stock. in a research report on Monday, September 28th. Stifel Nicolaus boosted their price objective on Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, October 14th. Finally, Citigroup upped their price objective on Manhattan Associates from $203.00 to $260.00 and gave the company a "buy" rating in a report on Tuesday. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $230.40.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.

The company's product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.

Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.

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