Stony Point Capital LLC Boosts Position in Manhattan Associates, Inc. $MANH

Key Points

• Stony Point Capital LLC increased its stake in Manhattan Associates by 25.8% during the first quarter, obtaining 56,778 shares valued at approximately $9.83 million.
• Institutional investors, including Lazard Asset Management and GAMMA Investing LLC, significantly increased their holdings in Manhattan Associates, with GAMMA boosting theirs by 10,499% in the first quarter.
• Analysts have a consensus markup of "Moderate Buy" for Manhattan Associates with an average target price of $216.67, following earnings that surpassed expectations with an EPS of $1.31.

Stony Point Capital LLC boosted its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 25.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,778 shares of the software maker's stock after acquiring an additional 11,640 shares during the period. Stony Point Capital LLC owned 0.09% of Manhattan Associates worth $9,825,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MANH. Lazard Asset Management LLC lifted its position in Manhattan Associates by 2,075.5% during the fourth quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker's stock valued at $107,842,000 after acquiring an additional 380,722 shares during the last quarter. Nuveen LLC purchased a new position in shares of Manhattan Associates in the first quarter worth $40,174,000. RGM Capital LLC raised its holdings in shares of Manhattan Associates by 77.0% in the first quarter. RGM Capital LLC now owns 466,725 shares of the software maker's stock worth $80,762,000 after buying an additional 203,071 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Manhattan Associates by 467.5% in the first quarter. BNP Paribas Financial Markets now owns 212,218 shares of the software maker's stock worth $36,722,000 after buying an additional 174,823 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Manhattan Associates by 10,499.0% in the first quarter. GAMMA Investing LLC now owns 176,155 shares of the software maker's stock worth $30,482,000 after buying an additional 174,493 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Manhattan Associates Trading Down 0.7%

MANH traded down $1.41 during trading hours on Wednesday, hitting $208.46. 79,330 shares of the company's stock were exchanged, compared to its average volume of 781,701. Manhattan Associates, Inc. has a 12-month low of $140.81 and a 12-month high of $312.60. The firm has a 50 day moving average of $209.26 and a 200 day moving average of $188.97. The firm has a market cap of $12.61 billion, a P/E ratio of 58.44 and a beta of 1.13.

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, 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 during the quarter, compared to analysts' expectations of $263.62 million. During the same quarter in the previous year, the business posted $1.18 EPS. The firm's revenue was up 2.7% on a year-over-year basis. 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 Transactions at Manhattan Associates

In other news, Director Linda T. Hollembaek sold 2,024 shares of the firm's 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 completion of the sale, the director owned 11,907 shares in the company, valued at approximately $2,637,757.71. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Eddie Capel sold 37,342 shares of the stock in a transaction dated 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 owned 162,988 shares of the company's stock, valued at $36,212,673.84. This represents a 18.64% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,666 shares of company stock worth $9,251,781. Company insiders own 0.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MANH. Truist Financial raised their price target on shares of Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Morgan Stanley assumed coverage on shares of Manhattan Associates in a report on Monday, July 14th. They set an "underweight" rating and a $190.00 target price for the company. DA Davidson raised their target price on shares of Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Redburn Atlantic cut shares of Manhattan Associates from a "buy" rating to a "neutral" rating and cut their price objective for the company from $270.00 to $200.00 in a report on Tuesday, June 10th. Finally, Raymond James Financial lifted their price objective 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. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $216.67.

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.