Northern Trust Corp Has $140.14 Million Stock Holdings in Manhattan Associates, Inc. $MANH

Key Points

• Northern Trust Corp increased its stake in Manhattan Associates by 6.3% to 809,894 shares, valued at approximately $140.14 million.
• Manhattan Associates reported earnings of $1.31 per share for the last quarter, exceeding estimates, with a revenue of $272.42 million, which was also above analyst predictions.
• Several analysts have raised their price targets for Manhattan Associates, with DA Davidson increasing it to $250.00, while the stock maintains a consensus rating of "Moderate Buy".

Northern Trust Corp lifted its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 6.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 809,894 shares of the software maker's stock after purchasing an additional 48,074 shares during the period. Northern Trust Corp owned about 1.33% of Manhattan Associates worth $140,144,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MANH shares. DA Davidson boosted their price objective on Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Morgan Stanley began coverage on Manhattan Associates in a research note on Monday, July 14th. They set an "underweight" rating and a $190.00 target price on the stock. Raymond James Financial increased their price target on Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Citigroup reissued a "neutral" rating and set a $200.00 price target (up from $177.00) on shares of Manhattan Associates in a report on Wednesday, July 16th. Finally, Truist Financial upped their price objective on shares of Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $216.67.

Manhattan Associates Stock Down 0.0%

Manhattan Associates stock traded down $0.08 during mid-day trading on Thursday, hitting $218.83. The company's stock had a trading volume of 59,726 shares, compared to its average volume of 787,018. The stock has a market capitalization of $13.23 billion, a P/E ratio of 60.99 and a beta of 1.10. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60. The stock's fifty day moving average price is $207.32 and its two-hundred day moving average price is $188.06.

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 for the quarter, topping the consensus estimate of $1.12 by $0.19. The business had revenue of $272.42 million during the quarter, compared to analyst estimates of $263.62 million. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%.The company's revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $1.18 EPS. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. Equities analysts expect that Manhattan Associates, Inc. will post 3.3 earnings per share for the current year.

Insider Buying and Selling

In other Manhattan Associates news, Chairman Eddie Capel sold 37,342 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $222.18, for a total value of $8,296,645.56. Following the completion of the transaction, the chairman directly owned 162,988 shares in the company, valued at $36,212,673.84. This trade represents a 18.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Linda T. Hollembaek sold 2,024 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $221.53, for a total transaction of $448,376.72. Following the completion of the transaction, the director directly owned 11,907 shares in the company, valued at approximately $2,637,757.71. This trade represents a 14.53% 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 valued at $9,251,781. 0.88% of the stock is owned by corporate insiders.

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.