Nuveen LLC Takes $40.17 Million Position in Manhattan Associates, Inc. $MANH

Key Points

• Nuveen LLC invested approximately $40.17 million in Manhattan Associates, acquiring 232,164 shares, which represents 0.38% of the company's total stock as of their latest SEC filing.
• Manhattan Associates reported earnings per share (EPS) of $1.31 for the last quarter, beating analysts' expectations and reflecting a 2.7% year-over-year revenue increase.
• Despite recent insider selling activities, the majority of Manhattan Associates' stock, around 98.45%, is owned by institutional investors, highlighting significant institutional interest in the company.

Nuveen LLC bought a new position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 232,164 shares of the software maker's stock, valued at approximately $40,174,000. Nuveen LLC owned about 0.38% of Manhattan Associates at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northern Trust Corp raised its position in shares of Manhattan Associates by 26.5% during the 4th quarter. Northern Trust Corp now owns 761,820 shares of the software maker's stock valued at $205,874,000 after buying an additional 159,572 shares in the last quarter. Bank of New York Mellon Corp raised its position in Manhattan Associates by 10.1% during the first quarter. Bank of New York Mellon Corp now owns 591,794 shares of the software maker's stock valued at $102,404,000 after purchasing an additional 54,273 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Manhattan Associates by 5.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 545,570 shares of the software maker's stock worth $147,435,000 after purchasing an additional 27,621 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Manhattan Associates by 16.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 513,293 shares of the software maker's stock valued at $138,714,000 after purchasing an additional 73,546 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Manhattan Associates by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 493,208 shares of the software maker's stock valued at $133,293,000 after buying an additional 15,201 shares during the period. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Price Performance

Manhattan Associates stock traded down $4.7850 during midday trading on Wednesday, reaching $210.7650. The company's stock had a trading volume of 242,874 shares, compared to its average volume of 799,793. The stock has a market capitalization of $12.74 billion, a P/E ratio of 58.87 and a beta of 1.10. The stock's 50-day simple moving average is $204.42 and its 200-day simple moving average is $187.33. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.19. The firm had revenue of $272.42 million for the quarter, compared to the consensus estimate of $263.62 million. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter 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, equities research analysts expect that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

Insider Transactions at Manhattan Associates

In related news, EVP James Stewart Gantt sold 2,300 shares of the firm'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 completion of the transaction, the executive vice president owned 48,660 shares in the company, valued at $10,721,257.80. This trade represents a 4.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Linda T. Hollembaek sold 2,024 shares of Manhattan Associates stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $221.53, for a total value of $448,376.72. Following the sale, the director directly owned 11,907 shares of the company's stock, valued at approximately $2,637,757.71. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,666 shares of company stock worth $9,251,781. Company insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on MANH shares. Robert W. Baird upped their price target on shares of Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Redburn Atlantic lowered Manhattan Associates from a "buy" rating to a "neutral" rating and decreased their target price for the company from $270.00 to $200.00 in a research report on Tuesday, June 10th. Truist Financial increased their price target on Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. DA Davidson lifted their price objective on Manhattan Associates from $225.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Citigroup reissued 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. 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.