Millennium Management LLC Buys 129,402 Shares of Manhattan Associates, Inc. $MANH

Key Points

• Millennium Management LLC increased its holdings in Manhattan Associates, Inc. by 121.1% in Q1, owning approximately 236,229 shares valued at $40.88 million.
• A number of institutional investors, including Jacobs Levy Equity Management and AQR Capital Management, have significantly increased their stakes in Manhattan Associates during the same period.
• The stock has been rated a "Moderate Buy" with an average target price of $216.67 according to several research analyst reports.

Millennium Management LLC lifted its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 121.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 236,229 shares of the software maker's stock after acquiring an additional 129,402 shares during the quarter. Millennium Management LLC owned 0.39% of Manhattan Associates worth $40,877,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MANH. Jacobs Levy Equity Management Inc. increased its position in shares of Manhattan Associates by 1,214.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 606,038 shares of the software maker's stock valued at $104,869,000 after acquiring an additional 559,923 shares during the last quarter. Lazard Asset Management LLC increased its position in Manhattan Associates by 2,075.5% in the fourth quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker's stock worth $107,842,000 after buying an additional 380,722 shares during the last quarter. AQR Capital Management LLC increased its position in Manhattan Associates by 103.0% in the first quarter. AQR Capital Management LLC now owns 684,663 shares of the software maker's stock worth $116,872,000 after buying an additional 347,358 shares during the last quarter. Nuveen LLC purchased a new stake in Manhattan Associates in the first quarter worth $40,174,000. Finally, RGM Capital LLC increased its position in Manhattan Associates by 77.0% in the first quarter. RGM Capital LLC now owns 466,725 shares of the software maker's stock worth $80,762,000 after buying an additional 203,071 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Manhattan Associates news, 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 completion of the sale, the chairman owned 162,988 shares of the company's stock, valued at $36,212,673.84. The trade was a 18.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James Stewart Gantt sold 2,300 shares of Manhattan Associates stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $220.33, for a total value of $506,759.00. Following the sale, the executive vice president directly owned 48,660 shares of the company's stock, valued at approximately $10,721,257.80. This trade represents a 4.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,666 shares of company stock valued at $9,251,781 over the last 90 days. Insiders own 0.88% of the company's stock.

Manhattan Associates Price Performance

MANH stock traded down $1.86 during mid-day trading on Monday, hitting $214.24. 80,708 shares of the stock were exchanged, compared to its average volume of 767,870. The business has a fifty day moving average price of $212.02 and a 200 day moving average price of $190.84. Manhattan Associates, Inc. has a 12 month low of $140.81 and a 12 month high of $312.60. The stock has a market capitalization of $12.95 billion, a price-to-earnings ratio of 59.81 and a beta of 1.13.

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, topping the consensus estimate of $1.12 by $0.19. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%.The firm had revenue of $272.42 million during the quarter, compared to analyst estimates of $263.62 million. During the same quarter in the previous year, the company posted $1.18 earnings per share. The company's revenue 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. As a group, equities analysts forecast that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MANH has been the subject of a number of recent research reports. DA Davidson raised their target price on Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Truist Financial raised their target price on Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Morgan Stanley assumed coverage on Manhattan Associates in a research report on Monday, July 14th. They issued an "underweight" rating and a $190.00 target price for the company. Robert W. Baird lifted their price target on Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Finally, Redburn Atlantic cut Manhattan Associates from a "buy" rating to a "neutral" rating and reduced their price target for the company from $270.00 to $200.00 in a research report on Tuesday, June 10th. Six equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $216.67.

About Manhattan Associates

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.