Polen Capital Management LLC Takes $385,000 Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Key Points

• Polen Capital Management LLC has acquired a new stake in Manhattan Associates, purchasing 2,226 shares valued at approximately $385,000.
• Insider selling was notable, with EVP James Stewart Gantt selling 2,300 shares and Chairman Eddie Capel selling 37,342 shares, indicating a decrease in their holdings.
• Manhattan Associates reported earnings of $1.31 per share for the last quarter, surpassing expectations and reflecting a 2.7% revenue increase compared to the previous year.

Polen Capital Management LLC acquired a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,226 shares of the software maker's stock, valued at approximately $385,000.

A number of other institutional investors have also recently bought and sold shares of MANH. Federated Hermes Inc. boosted its position in Manhattan Associates by 84.0% during the fourth quarter. Federated Hermes Inc. now owns 17,780 shares of the software maker's stock valued at $4,805,000 after purchasing an additional 8,116 shares during the last quarter. Cerity Partners LLC boosted its position in Manhattan Associates by 5.6% during the fourth quarter. Cerity Partners LLC now owns 20,715 shares of the software maker's stock valued at $5,765,000 after purchasing an additional 1,093 shares during the last quarter. Advisory Services Network LLC boosted its position in Manhattan Associates by 100.4% during the fourth quarter. Advisory Services Network LLC now owns 8,593 shares of the software maker's stock valued at $2,322,000 after purchasing an additional 4,305 shares during the last quarter. APG Asset Management N.V. boosted its position in Manhattan Associates by 3.4% during the fourth quarter. APG Asset Management N.V. now owns 3,109 shares of the software maker's stock valued at $811,000 after purchasing an additional 102 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Manhattan Associates during the fourth quarter valued at $49,416,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Insider Buying and Selling

In related news, EVP James Stewart Gantt sold 2,300 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $220.33, for a total transaction of $506,759.00. Following the completion of the transaction, the executive vice president owned 48,660 shares of the company's stock, valued at approximately $10,721,257.80. The trade was a 4.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Eddie Capel sold 37,342 shares of the business's stock in a transaction dated 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 transaction, the chairman owned 162,988 shares in the company, valued at $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. In the last 90 days, insiders sold 41,666 shares of company stock valued at $9,251,781. Insiders own 0.88% of the company's stock.

Manhattan Associates Stock Performance

NASDAQ MANH opened at $205.79 on Friday. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60. The stock has a market capitalization of $12.44 billion, a PE ratio of 57.48 and a beta of 1.10. The stock has a 50-day simple moving average of $201.05 and a 200 day simple moving average of $189.44.

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 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 business 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 firm earned $1.18 EPS. The firm's revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts forecast that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.

Analyst Ratings Changes

MANH has been the subject of a number of research reports. Morgan Stanley initiated coverage on Manhattan Associates in a research report on Monday, July 14th. They set an "underweight" rating and a $190.00 price objective for the company. DA Davidson boosted their price target on Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Truist Financial boosted 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. Redburn Atlantic cut Manhattan Associates from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $270.00 to $200.00 in a research report on Tuesday, June 10th. Finally, Raymond James Financial boosted their price target on Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Manhattan Associates has an average rating of "Hold" 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.

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