Panagora Asset Management Inc. Has $1.92 Million Stake 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. boosted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 195.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,100 shares of the software maker's stock after acquiring an additional 7,345 shares during the quarter. Panagora Asset Management Inc.'s holdings in Manhattan Associates were worth $1,921,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Northern Trust Corp grew its stake in Manhattan Associates by 6.3% during the 1st quarter. Northern Trust Corp now owns 809,894 shares of the software maker's stock valued at $140,144,000 after acquiring an additional 48,074 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Manhattan Associates by 10.1% during the 1st quarter. Bank of New York Mellon Corp now owns 591,794 shares of the software maker's stock valued at $102,404,000 after acquiring an additional 54,273 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Manhattan Associates by 5.3% during 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 valued at $147,435,000 after acquiring an additional 27,621 shares in the last quarter. RGM Capital LLC lifted its holdings in shares of Manhattan Associates by 77.0% during the 1st quarter. RGM Capital LLC now owns 466,725 shares of the software maker's stock valued at $80,762,000 after buying an additional 203,071 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Manhattan Associates by 11.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 449,632 shares of the software maker's stock valued at $77,804,000 after buying an additional 45,743 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Manhattan Associates Price Performance

Shares of MANH traded up $5.45 on Friday, reaching $215.31. 394,168 shares of the stock traded hands, compared to its average volume of 458,152. The firm has a market cap of $13.02 billion, a price-to-earnings ratio of 60.14 and a beta of 1.13. Manhattan Associates, Inc. has a 12 month low of $140.81 and a 12 month high of $312.60. The stock's 50-day moving average price is $210.25 and its 200-day moving average price is $189.47.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $263.62 million. During the same period in the prior year, the business posted $1.18 earnings per share. The business'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. As a group, equities research analysts forecast that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

Insider Transactions at Manhattan Associates

In other news, EVP James Stewart Gantt sold 2,300 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $220.33, for a total transaction of $506,759.00. Following the sale, the executive vice president owned 48,660 shares in the company, valued at approximately $10,721,257.80. This represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $8,296,645.56. Following the sale, the chairman owned 162,988 shares in the company, valued at $36,212,673.84. The trade was a 18.64% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,666 shares of company stock worth $9,251,781. Insiders own 0.88% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Loop Capital lifted their price target on Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a report on Tuesday, July 22nd. Truist Financial lifted their price target on Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Morgan Stanley assumed coverage on Manhattan Associates in a report on Monday, July 14th. They set an "underweight" rating and a $190.00 price target for the company. DA Davidson lifted their price target on Manhattan Associates from $225.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Raymond James Financial boosted their target price on Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $216.67.

Manhattan Associates Company 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.