Segall Bryant & Hamill LLC Sells 38,359 Shares of Manhattan Associates, Inc. $MANH

Key Points

• Segall Bryant & Hamill reduced its Manhattan Associates position by 44.6% in the first quarter, selling 38,359 shares and retaining 47,573 shares valued at approximately $6.3 million.
• Institutional investors own 98.45% of Manhattan Associates, with Norges Bank initiating a sizable stake and several other major investors increasing their holdings.
• Manhattan Associates exceeded quarterly expectations, reporting $1.39 in EPS and $297.79 million in revenue, up 9.3% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $209.20.

Segall Bryant & Hamill LLC cut its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 44.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 47,573 shares of the software maker's stock after selling 38,359 shares during the period. Segall Bryant & Hamill LLC owned approximately 0.08% of Manhattan Associates worth $6,333,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Manhattan Associates during the fourth quarter valued at approximately $124,264,000. T. Rowe Price Investment Management Inc. raised its holdings in Manhattan Associates by 35.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker's stock worth $447,182,000 after acquiring an additional 671,589 shares during the last quarter. Amundi lifted its position in Manhattan Associates by 479.4% in the 1st quarter. Amundi now owns 454,095 shares of the software maker's stock valued at $60,449,000 after acquiring an additional 375,719 shares in the last quarter. Lazard Asset Management LLC lifted its position in Manhattan Associates by 76.4% in the 3rd quarter. Lazard Asset Management LLC now owns 707,742 shares of the software maker's stock valued at $145,073,000 after acquiring an additional 306,516 shares in the last quarter. Finally, Swedbank AB boosted its stake in Manhattan Associates by 25.0% during the 1st quarter. Swedbank AB now owns 1,500,000 shares of the software maker's stock valued at $199,680,000 after purchasing an additional 300,000 shares during the last quarter. Institutional investors own 98.45% of the company's stock.

Analyst Upgrades and Downgrades

MANH has been the subject of a number of research analyst reports. Robert W. Baird lifted their target price on Manhattan Associates from $186.00 to $218.00 and gave the stock an "outperform" rating in a report on Wednesday, July 29th. Wall Street Zen downgraded Manhattan Associates from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Citigroup increased their price objective on Manhattan Associates from $177.00 to $193.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. Stifel Nicolaus lifted their price objective on Manhattan Associates from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. Finally, Morgan Stanley set a $180.00 target price on Manhattan Associates in a research report on Wednesday, July 29th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $209.20.

Insider Activity

In other Manhattan Associates news, EVP James Stewart Gantt sold 5,139 shares of the firm's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the sale, the executive vice president directly owned 55,676 shares of the company's stock, valued at $10,886,328.28. This trade represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric Andrew Clark sold 1,000 shares of Manhattan Associates stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $146.77, for a total value of $146,770.00. Following the sale, the chief executive officer directly owned 92,638 shares in the company, valued at $13,596,479.26. This trade represents a 1.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.84% of the stock is owned by company insiders.

Manhattan Associates Trading Down 2.2%

NASDAQ:MANH opened at $187.24 on Tuesday. The company has a market cap of $11.08 billion, a PE ratio of 53.65 and a beta of 0.97. The company has a 50 day simple moving average of $151.44 and a two-hundred day simple moving average of $145.36. Manhattan Associates, Inc. has a 12 month low of $119.06 and a 12 month high of $220.72.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.07. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The business had revenue of $297.79 million for the quarter, compared to analysts' expectations of $289.03 million. During the same period last year, the firm posted $1.31 earnings per share. The business's revenue for the quarter was up 9.3% on a year-over-year basis. Research analysts forecast that Manhattan Associates, Inc. will post 3.87 earnings per share for the current year.

Manhattan Associates Profile

Manhattan Associates, Inc NASDAQ: MANH is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.

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