Panagora Asset Management Inc. Boosts Position in Manhattan Associates, Inc. $MANH

Key Points

• Panagora Asset Management Inc. increased its stake in Manhattan Associates by 195.6% in the first quarter, owning 11,100 shares valued at $1.92 million after purchasing an additional 7,345 shares.
• Several institutional investors adjusted their holdings, with Stony Point Capital increasing theirs by 25.8%, while 98.45% of Manhattan Associates stock is now owned by institutional investors and hedge funds.
• Equity analysts have mixed views on the stock, with a consensus target price of $216.67 and six analysts rating it as a Buy, amidst recent changes in price targets and ratings from major institutions.

Panagora Asset Management Inc. raised its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 195.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,100 shares of the software maker's stock after buying an additional 7,345 shares during the quarter. Panagora Asset Management Inc.'s holdings in Manhattan Associates were worth $1,921,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Central Pacific Bank Trust Division grew its position in shares of Manhattan Associates by 107.3% in the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock worth $34,000 after buying an additional 103 shares during the last quarter. Park Square Financial Group LLC bought a new stake in shares of Manhattan Associates during the fourth quarter valued at approximately $38,000. Brooklyn Investment Group boosted its position in shares of Manhattan Associates by 70.1% during the first quarter. Brooklyn Investment Group now owns 359 shares of the software maker's stock valued at $62,000 after purchasing an additional 148 shares in the last quarter. Reyes Financial Architecture Inc. boosted its position in shares of Manhattan Associates by 42.5% during the first quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock valued at $82,000 after purchasing an additional 142 shares in the last quarter. Finally, Bayforest Capital Ltd boosted its position in shares of Manhattan Associates by 126.6% during 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 in the last quarter. 98.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MANH has been the topic of several research reports. Raymond James Financial lifted their price target on Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Citigroup restated a "neutral" rating and set a $200.00 price target (up from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Redburn Atlantic lowered Manhattan Associates from a "buy" rating to a "neutral" rating and dropped their price target for the company from $270.00 to $200.00 in a research report on Tuesday, June 10th. Robert W. Baird lifted 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. Finally, Morgan Stanley started coverage on Manhattan Associates in a research note on Monday, July 14th. They set an "underweight" rating and a $190.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Manhattan Associates currently has a consensus rating of "Moderate Buy" and a consensus target price of $216.67.

Manhattan Associates Stock Performance

Shares of MANH stock traded up $2.18 during mid-day trading on Monday, hitting $217.49. The company's stock had a trading volume of 85,576 shares, compared to its average volume of 775,524. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60. The business has a 50-day moving average price of $210.25 and a 200 day moving average price of $189.49. The stock has a market cap of $13.15 billion, a price-to-earnings ratio of 60.76 and a beta of 1.13.

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 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 firm had revenue of $272.42 million during the quarter, compared to analysts' expectations of $263.62 million. During the same quarter in the previous year, the business earned $1.18 earnings per share. The company's revenue was up 2.7% on a year-over-year basis. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. Equities research analysts predict that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.

Insider Activity at Manhattan Associates

In related news, Director Linda T. Hollembaek sold 2,024 shares of the company's stock in a transaction 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 sale, the director owned 11,907 shares in the company, valued at approximately $2,637,757.71. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Eddie Capel sold 37,342 shares of the company's stock in a transaction on 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 sale, the chairman owned 162,988 shares of the company's stock, valued at approximately $36,212,673.84. This trade represents a 18.64% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,666 shares of company stock worth $9,251,781. 0.72% of the stock is owned by insiders.

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.