Manhattan Associates, Inc. $MANH Shares Bought by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Manhattan Associates by 75.4% during the first quarter, acquiring a total of 196,901 shares worth approximately $34 million.
• Manhattan Associates reported $1.31 earnings per share for the last quarter, exceeding analysts' expectations and achieving a 2.7% year-over-year revenue growth.
• A mix of institutional investors holds approximately 98.45% of Manhattan Associates' stock, with several hedge funds reporting significant increases in their positions during the same period.

Russell Investments Group Ltd. grew its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 75.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 196,901 shares of the software maker's stock after buying an additional 84,667 shares during the quarter. Russell Investments Group Ltd. owned 0.32% of Manhattan Associates worth $34,073,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in MANH. DAVENPORT & Co LLC purchased a new position in shares of Manhattan Associates in the 1st quarter valued at about $214,000. Allianz Asset Management GmbH boosted its stake in shares of Manhattan Associates by 18.9% during 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 in the last quarter. SG Americas Securities LLC grew its holdings in shares of Manhattan Associates by 876.3% in the 1st quarter. SG Americas Securities LLC now owns 7,615 shares of the software maker's stock worth $1,318,000 after acquiring an additional 6,835 shares during the period. Abacus FCF Advisors LLC raised its holdings in Manhattan Associates by 170.0% during the first quarter. Abacus FCF Advisors LLC now owns 32,865 shares of the software maker's stock worth $5,687,000 after purchasing an additional 20,691 shares during the last quarter. Finally, Merit Financial Group LLC boosted its position in Manhattan Associates by 165.1% during the first 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. Hedge funds and other institutional investors own 98.45% of the company's stock.

Insider Buying and Selling

In related news, EVP James Stewart Gantt sold 2,300 shares of Manhattan Associates stock in a transaction on Friday, July 25th. The stock was sold at an average price of $220.33, for a total value of $506,759.00. Following the transaction, 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 ownership of the stock. The sale 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 the company's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $222.18, for a total value of $8,296,645.56. Following the sale, the chairman owned 162,988 shares of the company's stock, valued at $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. Over the last quarter, insiders sold 41,666 shares of company stock valued at $9,251,781. Insiders own 0.88% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MANH shares. Truist Financial raised their price target on Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Redburn Atlantic downgraded shares of Manhattan Associates from a "buy" rating to a "neutral" rating and dropped their target price for the company from $270.00 to $200.00 in a report on Tuesday, June 10th. Loop Capital upped their price target 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. Citigroup reissued a "neutral" rating and set a $200.00 price objective (up from $177.00) on shares of Manhattan Associates in a research note on Wednesday, July 16th. Finally, Raymond James Financial upped their target price on Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. 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. Based on data from MarketBeat.com, Manhattan Associates presently has a consensus rating of "Hold" and a consensus price target of $216.67.

Manhattan Associates Stock Performance

Manhattan Associates stock traded up $2.25 during trading on Monday, hitting $217.04. The company's stock had a trading volume of 220,315 shares, compared to its average volume of 803,668. The stock's fifty day moving average is $203.51 and its 200 day moving average is $187.08. Manhattan Associates, Inc. has a 1-year low of $140.81 and a 1-year high of $312.60. The stock has a market capitalization of $13.12 billion, a price-to-earnings ratio of 60.62 and a beta of 1.10.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.19. The company had revenue of $272.42 million during the quarter, compared to the consensus estimate of $263.62 million. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The company's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.18 EPS. On average, research analysts anticipate that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.

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.