Pacer Advisors Inc. Reduces Stock Position in Manhattan Associates, Inc. $MANH

Key Points

• Pacer Advisors reduced its Manhattan Associates position by 9.8% in the first quarter, selling 9,482 shares and retaining 86,931 shares valued at approximately $11.6 million. Institutional investors collectively own 98.45% of the company.
• Analyst sentiment remains positive, with eight Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $209.20. Robert W. Baird and Stifel recently raised their targets to $218 and $225, respectively.
• Manhattan Associates exceeded quarterly expectations, reporting EPS of $1.39 versus the $1.32 consensus and revenue of $297.79 million versus $289.03 million expected. Revenue increased 9.3% year over year, while the stock opened at $189.13.

Pacer Advisors Inc. cut its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 86,931 shares of the software maker's stock after selling 9,482 shares during the period. Pacer Advisors Inc. owned 0.15% of Manhattan Associates worth $11,572,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Henshaw Capital LLC lifted its position in shares of Manhattan Associates by 65.4% during the first quarter. Henshaw Capital LLC now owns 18,535 shares of the software maker's stock worth $2,467,000 after acquiring an additional 7,330 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Manhattan Associates by 25.8% in the first quarter. Bank of America Corp DE now owns 504,871 shares of the software maker's stock worth $67,208,000 after acquiring an additional 103,620 shares during the period. Edgestream Partners L.P. grew its position in shares of Manhattan Associates by 14.1% in the first quarter. Edgestream Partners L.P. now owns 36,326 shares of the software maker's stock valued at $4,836,000 after purchasing an additional 4,490 shares in the last quarter. Bull Harbor Capital LLC purchased a new position in shares of Manhattan Associates in the first quarter valued at $614,000. Finally, Amundi raised its stake in shares of Manhattan Associates by 479.4% during the 1st quarter. Amundi now owns 454,095 shares of the software maker's stock valued at $60,449,000 after purchasing an additional 375,719 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Manhattan Associates news, EVP James Stewart Gantt sold 5,139 shares of the firm's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $195.53, for a total value of $1,004,828.67. Following the sale, the executive vice president owned 55,676 shares of the company's stock, valued at $10,886,328.28. This trade represents a 8.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Eric Andrew Clark sold 1,000 shares of Manhattan Associates stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $146.77, for a total value of $146,770.00. Following the sale, the chief executive officer owned 92,638 shares of the company's stock, valued at approximately $13,596,479.26. This trade represents a 1.07% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Rothschild & Co Redburn set a $145.00 price objective on Manhattan Associates in a report on Thursday, April 16th. Robert W. Baird lifted their target price on Manhattan Associates from $186.00 to $218.00 and gave the company an "outperform" rating in a report on Wednesday, July 29th. Stifel Nicolaus upped their price target on Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Weiss Ratings upgraded Manhattan Associates from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 14th. Finally, Morgan Stanley set a $180.00 price target on shares of Manhattan Associates in a report on Wednesday, July 29th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $209.20.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $189.13 on Wednesday. The stock has a market cap of $11.03 billion, a P/E ratio of 54.19 and a beta of 0.93. Manhattan Associates, Inc. has a fifty-two week low of $119.06 and a fifty-two week high of $220.72. The firm's fifty day moving average price is $152.43 and its 200-day moving average price is $145.47.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.07. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The company had revenue of $297.79 million during the quarter, compared to analyst estimates of $289.03 million. During the same quarter last year, the company earned $1.31 earnings per share. The firm's quarterly revenue was up 9.3% on a year-over-year basis. Sell-side analysts predict that Manhattan Associates, Inc. will post 3.87 earnings per share for the current year.

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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