Raymond James Financial Inc. Grows Stock Holdings in Manhattan Associates, Inc. $MANH

Key Points

• Raymond James Financial Inc. increased its stake in Manhattan Associates, Inc. by 22.2% in Q1, now owning 223,412 shares valued at approximately $38.7 million.
• Multiple analysts have raised their price targets on Manhattan Associates, with estimates now ranging from $200 to $250, indicating a consensus rating of "Moderate Buy".
• Insider selling has occurred recently, with key executives selling shares valued at over $9 million, indicating a decrease in their positions in the company.

Raymond James Financial Inc. raised its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 22.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 223,412 shares of the software maker's stock after acquiring an additional 40,552 shares during the period. Raymond James Financial Inc. owned approximately 0.37% of Manhattan Associates worth $38,659,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Central Pacific Bank Trust Division raised its position in Manhattan Associates by 107.3% in the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock worth $34,000 after purchasing an additional 103 shares during the period. Park Square Financial Group LLC bought a new position in Manhattan Associates in the 4th quarter valued at $38,000. Reyes Financial Architecture Inc. increased its stake in Manhattan Associates by 42.5% in the first quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock worth $82,000 after purchasing an additional 142 shares during the period. Bayforest Capital Ltd increased its stake in Manhattan Associates by 126.6% in the 1st quarter. Bayforest Capital Ltd now owns 494 shares of the software maker's stock worth $85,000 after buying an additional 276 shares during the period. Finally, Harbor Investment Advisory LLC boosted its holdings in shares of Manhattan Associates by 57.7% in the first quarter. Harbor Investment Advisory LLC now owns 552 shares of the software maker's stock valued at $96,000 after purchasing an additional 202 shares during the period. Hedge funds and other institutional investors own 98.45% of the company's stock.

Manhattan Associates Stock Down 0.1%

Shares of MANH traded down $0.22 during mid-day trading on Thursday, hitting $218.70. 59,726 shares of the company traded hands, compared to its average volume of 787,018. The company has a market capitalization of $13.22 billion, a PE ratio of 60.99 and a beta of 1.10. The business has a 50 day moving average of $207.32 and a 200 day moving average of $188.06. 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 released its earnings results 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 net margin of 20.91% and a return on equity of 82.91%. The company had revenue of $272.42 million for the quarter, compared to the consensus estimate of $263.62 million. During the same quarter in the previous year, the firm earned $1.18 EPS. Manhattan Associates'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, research analysts expect that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.

Insider Activity

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

Wall Street Analyst Weigh In

MANH has been the subject of several recent research reports. Raymond James Financial boosted their price target on shares of Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Citigroup reissued a "neutral" rating and set a $200.00 price objective (up from $177.00) on shares of Manhattan Associates in a report on Wednesday, July 16th. Truist Financial upped their target price on Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. DA Davidson increased their target price on Manhattan Associates from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Redburn Atlantic lowered 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. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently 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.