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Manhattan Associates, Inc. $MANH Shares Sold by Price T Rowe Associates Inc. MD

Manhattan Associates logo with Computer and Technology background

Key Points

  • Price T Rowe Associates Inc. has reduced its stake in Manhattan Associates by 21.4%, owning 403,284 shares valued at approximately $69.8 million after selling 110,009 shares in the first quarter.
  • Manhattan Associates reported Q2 earnings of $1.31 per share, exceeding estimates, with revenue of $272.42 million, representing a 2.7% year-over-year increase.
  • The stock currently has a market cap of $12.99 billion and a consensus price target of $216.67, with most analysts rating it a "Moderate Buy."
  • Want stock alerts on Manhattan Associates? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Price T Rowe Associates Inc. MD decreased its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 21.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 403,284 shares of the software maker's stock after selling 110,009 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.66% of Manhattan Associates worth $69,786,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. acquired a new position in Manhattan Associates in the 1st quarter valued at about $19,442,000. Capital Fund Management S.A. acquired a new position in shares of Manhattan Associates during the 1st quarter valued at about $15,117,000. Credit Agricole S A increased its stake in shares of Manhattan Associates by 1.3% during the 1st quarter. Credit Agricole S A now owns 4,858 shares of the software maker's stock valued at $841,000 after acquiring an additional 64 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Manhattan Associates by 3.3% during the 1st quarter. Hsbc Holdings PLC now owns 25,159 shares of the software maker's stock valued at $4,343,000 after acquiring an additional 810 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Manhattan Associates during the 1st quarter valued at about $7,150,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Manhattan Associates Price Performance

NASDAQ MANH traded down $0.45 during mid-day trading on Thursday, hitting $218.46. The company's stock had a trading volume of 516,498 shares, compared to its average volume of 499,973. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60. The stock's fifty day simple moving average is $207.92 and its two-hundred day simple moving average is $188.34. The firm has a market capitalization of $13.21 billion, a P/E ratio of 61.02 and a beta of 1.10.

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

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, Chairman Eddie Capel sold 37,342 shares of the stock in a transaction that occurred 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 completion of the sale, the chairman owned 162,988 shares of the company's stock, valued at $36,212,673.84. This trade represents a 18.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Linda T. Hollembaek sold 2,024 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total transaction of $448,376.72. Following the completion of the sale, the director directly owned 11,907 shares of the company's stock, valued at $2,637,757.71. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,666 shares of company stock valued at $9,251,781 over the last 90 days. 0.88% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MANH has been the subject of a number of research analyst reports. Raymond James Financial upped their price objective 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. Truist Financial upped their price objective on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Redburn Atlantic downgraded shares of Manhattan Associates from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $270.00 to $200.00 in a research note on Tuesday, June 10th. Morgan Stanley initiated coverage on shares of Manhattan Associates in a research note on Monday, July 14th. They set an "underweight" rating and a $190.00 price objective for the company. Finally, Robert W. Baird upped their price objective on shares of Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Manhattan Associates currently has an average rating of "Moderate Buy" and an average target price of $216.67.

Get Our Latest Stock Analysis on Manhattan Associates

Manhattan Associates Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Manhattan Associates (NASDAQ:MANH)

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