NorthRock Partners LLC Makes New $284,000 Investment in Manhattan Associates, Inc. $MANH

Key Points

• NorthRock Partners LLC invested approximately $284,000 in Manhattan Associates, Inc. by purchasing 1,440 shares in the second quarter, indicating growing interest in the software maker.
• Shares of Manhattan Associates have declined by 3.4%, opening at $193.04, despite the company reporting better-than-expected earnings per share of $1.31 for the last quarter.
• Wall Street analysts have a positive outlook on Manhattan Associates, with multiple firms raising their price targets, and an average target price of $222.91 reflecting strong investor confidence.

NorthRock Partners LLC purchased a new position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,440 shares of the software maker's stock, valued at approximately $284,000.

Other institutional investors have also bought and sold shares of the company. Cordatus Wealth Management LLC grew its position in Manhattan Associates by 4.9% in the first quarter. Cordatus Wealth Management LLC now owns 1,229 shares of the software maker's stock worth $213,000 after acquiring an additional 57 shares in the last quarter. Credit Agricole S A grew its position in Manhattan Associates by 1.3% in the first quarter. Credit Agricole S A now owns 4,858 shares of the software maker's stock worth $841,000 after acquiring an additional 64 shares in the last quarter. Quent Capital LLC grew its position in Manhattan Associates by 3.5% in the second quarter. Quent Capital LLC now owns 1,947 shares of the software maker's stock worth $384,000 after acquiring an additional 65 shares in the last quarter. Linden Thomas Advisory Services LLC grew its position in Manhattan Associates by 1.1% in the first quarter. Linden Thomas Advisory Services LLC now owns 6,552 shares of the software maker's stock worth $1,134,000 after acquiring an additional 73 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Manhattan Associates by 1.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,272 shares of the software maker's stock worth $846,000 after acquiring an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Manhattan Associates Stock Down 3.4%

Shares of NASDAQ:MANH opened at $193.04 on Friday. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60. The stock has a market cap of $11.67 billion, a P/E ratio of 53.92 and a beta of 1.12. The business's 50 day moving average is $210.55 and its 200 day moving average is $196.25.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $272.42 million for the quarter, compared to analysts' expectations of $263.62 million. During the same quarter in the prior year, the firm earned $1.18 earnings per share. Manhattan Associates'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. On average, sell-side analysts anticipate that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MANH. Robert W. Baird lifted their price target on Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. DA Davidson lifted their price target on Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Barclays initiated coverage on Manhattan Associates in a research report on Tuesday, October 7th. They set an "overweight" rating and a $247.00 target price for the company. Citigroup restated a "neutral" rating and set a $200.00 target price (up previously from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Manhattan Associates in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $222.91.

Insiders Place Their Bets

In other Manhattan Associates news, Chairman Eddie Capel sold 37,342 shares of the company's stock in a transaction on 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 in the company, valued at $36,212,673.84. This represents a 18.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Stewart Gantt sold 2,300 shares of the company's 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 sale, the executive vice president owned 48,660 shares of the company's stock, valued at approximately $10,721,257.80. This 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 worth $9,251,781 over the last 90 days. Company insiders own 0.88% of the company's stock.

Manhattan Associates 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.

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