Martingale Asset Management L P Sells 7,847 Shares of Manhattan Associates, Inc. $MANH

Key Points

• Martingale Asset Management L P sold 7,847 shares of Manhattan Associates, reducing its holdings by 85.5%, now owning only 1,328 shares valued at $230,000.
• Institutional investors control 98.45% of Manhattan Associates' stock, highlighting significant interest from large financial entities.
• Analysts have varied opinions on Manhattan Associates, with six recommending a Buy rating and a price target average of $216.67.

Martingale Asset Management L P decreased its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 85.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,328 shares of the software maker's stock after selling 7,847 shares during the period. Martingale Asset Management L P's holdings in Manhattan Associates were worth $230,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of MANH. Central Pacific Bank Trust Division raised 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 worth $34,000 after buying an additional 103 shares in the last quarter. Park Square Financial Group LLC bought a new position in Manhattan Associates in the fourth quarter worth approximately $38,000. Brooklyn Investment Group raised 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 worth $62,000 after buying an additional 148 shares in the last quarter. Reyes Financial Architecture Inc. raised 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 worth $82,000 after buying an additional 142 shares in the last quarter. Finally, Bayforest Capital Ltd raised 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 worth $85,000 after buying an additional 276 shares in the last quarter. Institutional investors own 98.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MANH. Truist Financial boosted their price objective on shares of Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Raymond James Financial raised their target price on shares of Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Loop Capital raised their target price on shares of Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a research note on Tuesday, July 22nd. Morgan Stanley initiated coverage on shares of Manhattan Associates in a research note on Monday, July 14th. They issued an "underweight" rating and a $190.00 target price for the company. Finally, Redburn Atlantic downgraded shares of Manhattan Associates from a "buy" rating to a "neutral" rating and lowered their target price for the company from $270.00 to $200.00 in a research note on Tuesday, June 10th. Six 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $216.67.

Manhattan Associates Trading Down 0.1%

Shares of Manhattan Associates stock opened at $214.64 on Wednesday. Manhattan Associates, Inc. has a 12-month low of $140.81 and a 12-month high of $312.60. The firm has a market capitalization of $12.98 billion, a price-to-earnings ratio of 59.96 and a beta of 1.10. The firm's 50 day simple moving average is $206.71 and its two-hundred day simple moving average is $187.85.

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, beating analysts' consensus estimates 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 analyst estimates of $263.62 million. During the same quarter in the prior year, the business posted $1.18 EPS. Manhattan Associates'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, sell-side analysts predict that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, Chairman Eddie Capel sold 37,342 shares of Manhattan Associates 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 directly owned 162,988 shares in the company, valued at approximately $36,212,673.84. The trade was a 18.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP James Stewart Gantt sold 2,300 shares of Manhattan Associates stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $220.33, for a total transaction of $506,759.00. Following the sale, the executive vice president owned 48,660 shares of the company's stock, valued at approximately $10,721,257.80. The trade was a 4.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,666 shares of company stock worth $9,251,781. 0.72% of the stock is owned by corporate insiders.

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.

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