Natixis Advisors LLC Raises Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Key Points

• Natixis Advisors LLC increased its stake in Manhattan Associates, Inc. by 73.6% during the first quarter, now owning approximately 0.05% of the company, valued at $5.35 million.
• Analysts are optimistic about the company, with multiple firms raising their price targets; DA Davidson increased their target from $225.00 to $250.00, maintaining a "buy" rating.
• Insider transactions show significant sales, with Director Linda T. Hollembaek and Chairman Eddie Capel selling shares that represent a decrease in their ownership by 14.53% and 18.64%, respectively.

Natixis Advisors LLC grew its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 73.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 30,949 shares of the software maker's stock after purchasing an additional 13,123 shares during the period. Natixis Advisors LLC owned approximately 0.05% of Manhattan Associates worth $5,355,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC purchased a new stake in Manhattan Associates during the 1st quarter valued at about $214,000. Allianz Asset Management GmbH raised its holdings in Manhattan Associates by 18.9% in the 1st quarter. Allianz Asset Management GmbH now owns 143,687 shares of the software maker's stock worth $24,864,000 after acquiring an additional 22,845 shares during the last quarter. SG Americas Securities LLC lifted its position in Manhattan Associates by 876.3% in the 1st quarter. SG Americas Securities LLC now owns 7,615 shares of the software maker's stock valued at $1,318,000 after acquiring an additional 6,835 shares in the last quarter. Abacus FCF Advisors LLC boosted its stake in Manhattan Associates by 170.0% during the 1st quarter. Abacus FCF Advisors LLC now owns 32,865 shares of the software maker's stock valued at $5,687,000 after purchasing an additional 20,691 shares during the last quarter. Finally, Merit Financial Group LLC increased its holdings in shares of Manhattan Associates by 165.1% in the 1st quarter. Merit Financial Group LLC now owns 4,279 shares of the software maker's stock worth $740,000 after purchasing an additional 2,665 shares in the last quarter. Institutional investors own 98.45% of the company's stock.

Manhattan Associates Stock Performance

MANH stock traded down $4.71 during trading on Thursday, hitting $211.28. 618,050 shares of the company's stock traded hands, compared to its average volume of 661,242. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60. The stock has a market capitalization of $12.78 billion, a price-to-earnings ratio of 58.38 and a beta of 1.10. The business has a fifty day simple moving average of $200.26 and a 200 day simple moving average of $191.03.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.19. The company had revenue of $272.42 million for the quarter, compared to analysts' expectations of $263.62 million. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.18 earnings per share. Research analysts forecast that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 2,300 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $220.33, for a total value of $506,759.00. Following the completion of the sale, the executive vice president owned 48,660 shares in the company, valued at approximately $10,721,257.80. This trade represents a 4.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Eddie Capel sold 37,342 shares of Manhattan Associates stock in a transaction dated 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 transaction, the chairman directly owned 162,988 shares of the company's stock, 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 41,666 shares of company stock worth $9,251,781 over the last quarter. Insiders own 0.88% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on MANH. DA Davidson upped their target price on shares of Manhattan Associates from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Citigroup reiterated a "neutral" rating and set a $200.00 target price (up from $177.00) on shares of Manhattan Associates in a research note on Wednesday, July 16th. Truist Financial raised their price objective on shares of Manhattan Associates from $210.00 to $230.00 and gave the stock 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 dropped their price target for the stock from $270.00 to $200.00 in a research note on Tuesday, June 10th. Finally, Morgan Stanley assumed coverage on Manhattan Associates in a report on Monday, July 14th. They issued an "underweight" rating and a $190.00 target price on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average 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.