Manhattan Associates, Inc. $MANH Shares Bought by Pallas Capital Advisors LLC

Key Points

• Pallas Capital Advisors LLC increased its stake in Manhattan Associates by 134%, acquiring an additional 5,486 shares, bringing their total to 9,580 shares valued at approximately $1.89 million.
• Insider transactions revealed that Chairman Eddie Capel sold 37,342 shares for over $8.29 million, resulting in an 18.64% decrease in his ownership.
• Analysts have mixed ratings on Manhattan Associates, with price targets ranging from $190 to $250, indicating a consensus rating of "Moderate Buy" and an average price target of $216.67.

Pallas Capital Advisors LLC lifted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 134.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,580 shares of the software maker's stock after purchasing an additional 5,486 shares during the quarter. Pallas Capital Advisors LLC's holdings in Manhattan Associates were worth $1,892,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. DAVENPORT & Co LLC purchased a new stake in Manhattan Associates in the first quarter valued at approximately $214,000. Allianz Asset Management GmbH lifted its stake in Manhattan Associates by 18.9% during the first quarter. Allianz Asset Management GmbH now owns 143,687 shares of the software maker's stock valued at $24,864,000 after purchasing an additional 22,845 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Manhattan Associates by 876.3% during the 1st quarter. SG Americas Securities LLC now owns 7,615 shares of the software maker's stock worth $1,318,000 after purchasing an additional 6,835 shares during the last quarter. Abacus FCF Advisors LLC boosted its position in shares of Manhattan Associates by 170.0% during the 1st quarter. Abacus FCF Advisors LLC now owns 32,865 shares of the software maker's stock valued at $5,687,000 after acquiring an additional 20,691 shares in the last quarter. Finally, Merit Financial Group LLC lifted its position in shares of Manhattan Associates by 165.1% during the first quarter. Merit Financial Group LLC now owns 4,279 shares of the software maker's stock worth $740,000 after purchasing an additional 2,665 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Insider Activity

In other Manhattan Associates news, Director Linda T. Hollembaek sold 2,024 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total value of $448,376.72. Following the completion of the sale, the director owned 11,907 shares of the company's stock, valued at $2,637,757.71. The trade was a 14.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Eddie Capel sold 37,342 shares of the 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 transaction, the chairman directly owned 162,988 shares in the company, valued at approximately $36,212,673.84. This represents a 18.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,666 shares of company stock valued at $9,251,781 in the last quarter. Company insiders own 0.88% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on MANH shares. Raymond James Financial increased their price target on shares of Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Robert W. Baird upped their price target on Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Truist Financial raised their price target on Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Redburn Atlantic cut Manhattan Associates from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $270.00 to $200.00 in a research report on Tuesday, June 10th. Finally, Morgan Stanley assumed coverage on Manhattan Associates in a research report on Monday, July 14th. They issued an "underweight" rating and a $190.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $216.67.

Manhattan Associates Price Performance

Shares of NASDAQ MANH traded down $0.15 during midday trading on Friday, hitting $217.71. 2,440,695 shares of the company's stock were exchanged, compared to its average volume of 456,228. The firm has a market cap of $13.16 billion, a P/E ratio of 60.81 and a beta of 1.13. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60. The stock's 50 day moving average price is $213.50 and its 200-day moving average price is $192.16.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.19. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The business had revenue of $272.42 million for the quarter, compared to the consensus estimate of $263.62 million. During the same period in the prior year, the business posted $1.18 earnings per share. Manhattan Associates's revenue for the quarter 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, analysts expect that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.

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.