Mediolanum International Funds Ltd Acquires 18,408 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Key Points

• Mediolanum International Funds Ltd increased its stake in Manhattan Associates, Inc. by 57.9% during Q1, acquiring an additional 18,408 shares to own a total of 50,215 shares valued at approximately $8.71 million.
• Analysts have mixed sentiments regarding Manhattan Associates, with price targets ranging from $200.00 to $250.00 and a consensus rating of "Hold" based on varying ratings from multiple research reports.
• The company's stock has seen a 1.1% decline recently, with a current market capitalization of $13.22 billion and a twelve-month trading range between $140.81 and $312.60.

Mediolanum International Funds Ltd increased its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 57.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 50,215 shares of the software maker's stock after purchasing an additional 18,408 shares during the quarter. Mediolanum International Funds Ltd owned approximately 0.08% of Manhattan Associates worth $8,711,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new position in shares of Manhattan Associates during the fourth quarter worth approximately $38,000. Transce3nd LLC bought a new stake in Manhattan Associates in the fourth quarter valued at $41,000. Central Pacific Bank Trust Division grew its position 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 valued at $34,000 after acquiring an additional 103 shares during the period. Reyes Financial Architecture Inc. grew its position in Manhattan Associates by 42.5% in the first quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock valued at $82,000 after acquiring an additional 142 shares during the period. Finally, Harbor Investment Advisory LLC grew its position in Manhattan Associates by 57.7% in the first quarter. Harbor Investment Advisory LLC now owns 552 shares of the software maker's stock valued at $96,000 after acquiring an additional 202 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MANH. Citigroup reiterated a "neutral" rating and issued a $200.00 price target (up from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Loop Capital increased their target price on Manhattan Associates from $170.00 to $200.00 and gave the stock a "hold" rating in a report on Tuesday, July 22nd. Redburn Atlantic lowered Manhattan Associates from a "buy" rating to a "neutral" rating and cut their price target for the company from $270.00 to $200.00 in a research note on Tuesday, June 10th. Robert W. Baird increased their target price on Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Finally, Truist Financial increased their target price on Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $216.67.

Manhattan Associates Price Performance

MANH stock traded up $2.65 during mid-day trading on Wednesday, reaching $228.06. The company had a trading volume of 451,167 shares, compared to its average volume of 825,806. The stock has a 50 day simple moving average of $196.51 and a two-hundred day simple moving average of $192.68. The company has a market capitalization of $13.79 billion, a price-to-earnings ratio of 63.72 and a beta of 1.08. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its quarterly earnings data 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 return on equity of 82.91% and a net margin of 20.91%. The company had revenue of $272.42 million during the quarter, compared to analysts' expectations of $263.62 million. During the same period last year, the firm posted $1.18 earnings per share. The business's revenue was up 2.7% on a year-over-year basis. On average, equities analysts predict that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

Insiders Place Their Bets

In other Manhattan Associates 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 completion of the transaction, the executive vice president directly owned 48,660 shares of the company's stock, valued at $10,721,257.80. The trade was a 4.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.72% of the company's stock.

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.