Norges Bank Purchases Shares of 717,003 Manhattan Associates, Inc. $MANH

Key Points

• Norges Bank bought a new stake of 717,003 shares in Manhattan Associates during the fourth quarter, worth about $124.3 million, giving it a 1.20% ownership position.
• Manhattan Associates reported strong quarterly results, with EPS of $1.24 beating estimates and revenue of $282.22 million topping expectations, while revenue rose 7.4% year over year.
• The company also authorized a $500 million share buyback, and analysts remain generally positive with a consensus rating of Moderate Buy and an average target price of $199.45.

Norges Bank purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 717,003 shares of the software maker's stock, valued at approximately $124,264,000. Norges Bank owned 1.20% of Manhattan Associates as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Eagle Bay Advisors LLC acquired a new stake in Manhattan Associates during the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in Manhattan Associates by 448.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker's stock valued at $28,000 after acquiring an additional 112 shares during the period. TD Private Client Wealth LLC lifted its holdings in Manhattan Associates by 83.8% in the fourth quarter. TD Private Client Wealth LLC now owns 239 shares of the software maker's stock valued at $41,000 after acquiring an additional 109 shares during the period. V Square Quantitative Management LLC purchased a new stake in Manhattan Associates in the 4th quarter worth approximately $44,000. Finally, Leonteq Securities AG purchased a new stake in Manhattan Associates in the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Manhattan Associates Price Performance

Shares of MANH stock opened at $150.58 on Friday. Manhattan Associates, Inc. has a 1-year low of $119.06 and a 1-year high of $247.22. The company has a market cap of $8.91 billion, a price-to-earnings ratio of 42.18 and a beta of 0.97. The stock has a 50 day simple moving average of $136.77 and a 200-day simple moving average of $151.94.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The software maker reported $1.24 EPS for the quarter, topping the consensus estimate of $1.10 by $0.14. The company had revenue of $282.22 million during the quarter, compared to analyst estimates of $273.71 million. Manhattan Associates had a net margin of 19.68% and a return on equity of 78.13%. The firm's revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.19 EPS. Manhattan Associates has set its FY 2026 guidance at 5.290-5.370 EPS. Analysts anticipate that Manhattan Associates, Inc. will post 3.68 earnings per share for the current fiscal year.

Manhattan Associates declared that its Board of Directors has authorized a share buyback plan on Thursday, March 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the software maker to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Insider Activity

In other news, EVP James Stewart Gantt sold 7,300 shares of the business's stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $139.25, for a total transaction of $1,016,525.00. Following the completion of the sale, the executive vice president owned 60,815 shares of the company's stock, valued at $8,468,488.75. The trade was a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.84% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on MANH. DA Davidson reaffirmed a "buy" rating and set a $200.00 target price on shares of Manhattan Associates in a report on Wednesday, May 20th. Rothschild & Co Redburn set a $145.00 price target on shares of Manhattan Associates in a report on Thursday, April 16th. Wall Street Zen lowered shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Saturday, May 23rd. Weiss Ratings cut shares of Manhattan Associates from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, April 27th. Finally, Robert W. Baird upped their price objective on shares of Manhattan Associates from $183.00 to $186.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 22nd. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Manhattan Associates has a consensus rating of "Moderate Buy" and an average target price of $199.45.

About Manhattan Associates

Manhattan Associates, Inc NASDAQ: MANH is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.

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