Millennium Management LLC Grows Holdings in 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 boosted its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 121.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm 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 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in MANH. Central Pacific Bank Trust Division increased its position in shares of Manhattan Associates by 107.3% during the first quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock worth $34,000 after purchasing an additional 103 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in shares of Manhattan Associates during the fourth quarter worth approximately $38,000. Brooklyn Investment Group increased its position in shares of Manhattan Associates by 70.1% during the first quarter. Brooklyn Investment Group now owns 359 shares of the software maker's stock worth $62,000 after purchasing an additional 148 shares in the last quarter. Reyes Financial Architecture Inc. increased its position in shares of Manhattan Associates by 42.5% during the first quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock worth $82,000 after purchasing an additional 142 shares in the last quarter. Finally, Bayforest Capital Ltd grew its holdings in Manhattan Associates by 126.6% in the 1st quarter. Bayforest Capital Ltd now owns 494 shares of the software maker's stock valued at $85,000 after buying an additional 276 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Manhattan Associates

In other news, EVP James Stewart Gantt sold 2,300 shares of Manhattan Associates stock in a transaction on Friday, July 25th. The shares were sold at an average price of $220.33, for a total value of $506,759.00. Following 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 SEC, which is available through this link. Also, Director Linda T. Hollembaek sold 2,024 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total transaction of $448,376.72. Following the completion of the sale, the director owned 11,907 shares of the company's stock, valued at approximately $2,637,757.71. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,666 shares of company stock worth $9,251,781. Insiders own 0.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. 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 report on Wednesday, July 23rd. Citigroup restated a "neutral" rating and issued a $200.00 target price (up from $177.00) on shares of Manhattan Associates in a report on Wednesday, July 16th. Morgan Stanley assumed coverage on Manhattan Associates in a research note on Monday, July 14th. They issued an "underweight" rating and a $190.00 price target on the stock. DA Davidson upped their price target on Manhattan Associates from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Truist Financial increased their target price on Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Manhattan Associates presently has a consensus rating of "Moderate Buy" and a consensus price target of $216.67.

Manhattan Associates Stock Down 1.4%

MANH traded down $3.16 on Friday, reaching $216.10. The company's stock had a trading volume of 435,532 shares, compared to its average volume of 452,648. The stock has a 50 day moving average of $212.02 and a two-hundred day moving average of $190.64. The company has a market capitalization of $13.07 billion, a price-to-earnings ratio of 60.36 and a beta of 1.13. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced 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. The firm had revenue of $272.42 million during the quarter, compared to the consensus estimate of $263.62 million. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%.The firm's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.18 earnings per share. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. As a group, analysts anticipate that Manhattan Associates, Inc. will post 3.3 earnings per share 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.