Prudential PLC Has $3.11 Million Stock Position in Manhattan Associates, Inc. $MANH

Key Points

• Prudential PLC reduced its stake in Manhattan Associates by 25.0% during Q1, holding 17,963 shares valued at $3.1 million after selling 5,973 shares.
• Insider sales included EVP James Stewart Gantt, who sold 2,300 shares for approximately $506,759, and Chairman Eddie Capel, who sold 37,342 shares for about $8.3 million.
• Manhattan Associates reported an earnings per share (EPS) of $1.31 for Q2, surpassing expectations of $1.12, with revenue of $272.42 million, up 2.7% compared to last year.

Prudential PLC lessened its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 25.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,963 shares of the software maker's stock after selling 5,973 shares during the quarter. Prudential PLC's holdings in Manhattan Associates were worth $3,108,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC grew its stake in shares of Manhattan Associates by 40.7% in the fourth quarter. Barclays PLC now owns 99,259 shares of the software maker's stock worth $26,824,000 after acquiring an additional 28,702 shares during the last quarter. CreativeOne Wealth LLC increased its stake in shares of Manhattan Associates by 6.5% in the fourth quarter. CreativeOne Wealth LLC now owns 5,106 shares of the software maker's stock worth $1,380,000 after purchasing an additional 310 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Manhattan Associates in the fourth quarter worth about $687,000. Evergreen Capital Management LLC raised its stake in Manhattan Associates by 6.7% during the fourth quarter. Evergreen Capital Management LLC now owns 1,858 shares of the software maker's stock valued at $502,000 after purchasing an additional 117 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in Manhattan Associates by 28.6% during the fourth quarter. NewEdge Advisors LLC now owns 1,938 shares of the software maker's stock worth $524,000 after acquiring an additional 431 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Truist Financial upped their price target 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. DA Davidson increased their target price on shares of Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Loop Capital boosted their target price on Manhattan Associates from $170.00 to $200.00 and gave the stock a "hold" rating in a report on Tuesday, July 22nd. Redburn Atlantic downgraded Manhattan Associates from a "buy" rating to a "neutral" rating and dropped their target price for the company from $270.00 to $200.00 in a research report on Tuesday, June 10th. Finally, Morgan Stanley began coverage on shares of Manhattan Associates in a research report on Monday, July 14th. They issued an "underweight" rating and a $190.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $216.67.

Insider Activity at Manhattan Associates

In other news, EVP James Stewart Gantt sold 2,300 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were 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 $10,721,257.80. The trade was a 4.51% 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, 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 sale, the director directly owned 11,907 shares of the company's stock, valued at approximately $2,637,757.71. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,666 shares of company stock worth $9,251,781 in the last 90 days. Corporate insiders own 0.72% of the company's stock.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH traded down $0.2150 during mid-day trading on Tuesday, hitting $216.6350. 114,779 shares of the company traded hands, compared to its average volume of 801,386. The firm has a market cap of $13.10 billion, a P/E ratio of 60.51 and a beta of 1.10. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60. The firm's 50 day simple moving average is $203.97 and its 200 day simple moving average is $187.14.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.19. The business had revenue of $272.42 million during the quarter, compared to the consensus estimate of $263.62 million. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The business's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.18 earnings per share. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. Equities research analysts expect that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.

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.