Manhattan Associates, Inc. (NASDAQ:MANH) Shares Bought by Premier Fund Managers Ltd

Key Points

• Premier Fund Managers Ltd increased its stake in Manhattan Associates, acquiring an additional 100,122 shares in the 1st quarter, raising its total holdings to 300,122 shares, approximately 1.9% of its investment portfolio.
• Several institutional investors have recently modified their stakes in Manhattan Associates, leading to a substantial overall ownership of 98.45% by institutional investors and hedge funds.
• Manhattan Associates reported an EPS of $1.31 for the last quarter, exceeding expectations, while its revenue also grew by 2.7% compared to last year.

Premier Fund Managers Ltd increased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 50.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 300,122 shares of the software maker's stock after purchasing an additional 100,122 shares during the period. Manhattan Associates makes up 1.9% of Premier Fund Managers Ltd's portfolio, making the stock its 19th largest holding. Premier Fund Managers Ltd owned about 0.49% of Manhattan Associates worth $52,055,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MANH. BOKF NA lifted its holdings in Manhattan Associates by 0.4% during the 4th quarter. BOKF NA now owns 13,271 shares of the software maker's stock valued at $3,522,000 after buying an additional 55 shares in the last quarter. Linden Thomas Advisory Services LLC grew its position in Manhattan Associates by 1.1% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 6,552 shares of the software maker's stock worth $1,134,000 after purchasing an additional 73 shares during the last quarter. Seeds Investor LLC grew its position in Manhattan Associates by 5.0% during the 4th quarter. Seeds Investor LLC now owns 1,556 shares of the software maker's stock worth $420,000 after purchasing an additional 74 shares during the last quarter. Signaturefd LLC increased its stake in shares of Manhattan Associates by 6.9% in the first quarter. Signaturefd LLC now owns 1,285 shares of the software maker's stock worth $222,000 after acquiring an additional 83 shares during the period. Finally, Fifth Third Bancorp lifted its stake in shares of Manhattan Associates by 14.6% in the 1st quarter. Fifth Third Bancorp now owns 691 shares of the software maker's stock valued at $120,000 after purchasing an additional 88 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Stock Performance

MANH stock traded down $5.07 during midday trading on Friday, reaching $214.59. 244,179 shares of the company were exchanged, compared to its average volume of 828,156. The stock's 50-day simple moving average is $197.95 and its 200 day simple moving average is $192.61. The company has a market cap of $12.98 billion, a price-to-earnings ratio of 60.12 and a beta of 1.08. Manhattan Associates, Inc. has a 1-year low of $140.81 and a 1-year high of $312.60.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The software maker reported $1.31 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.19. The business had revenue of $272.42 million for the quarter, compared to analysts' expectations of $263.62 million. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The company's quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.18 EPS. On average, research analysts anticipate that Manhattan Associates, Inc. will post 3.3 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on MANH. Redburn Atlantic cut shares of Manhattan Associates from a "buy" rating to a "neutral" rating and decreased their target price for the company from $270.00 to $200.00 in a research note on Tuesday, June 10th. DA Davidson upped their price objective on shares of Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Raymond James Financial upped their price objective on shares of Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Morgan Stanley began coverage on shares of Manhattan Associates in a research report on Monday, July 14th. They set an "underweight" rating and a $190.00 price objective for the company. Finally, Truist Financial upped their price objective on shares of Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" 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 issued a buy rating to the stock. According to data from MarketBeat, Manhattan Associates currently has a consensus rating of "Hold" and an average target price of $216.67.

Insider Activity

In other news, Director Linda T. Hollembaek sold 2,024 shares of Manhattan Associates stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total value of $448,376.72. Following the transaction, the director directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Eddie Capel sold 37,342 shares of Manhattan Associates stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $222.18, for a total transaction of $8,296,645.56. Following the completion of the transaction, the chairman directly owned 162,988 shares in the company, valued at $36,212,673.84. The trade was a 18.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,666 shares of company stock valued at $9,251,781 in the last ninety days. 0.88% of the stock is currently owned by company insiders.

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.