Summit Creek Advisors LLC Invests $3.08 Million in Manhattan Associates, Inc. $MANH

Key Points

• Summit Creek Advisors acquired 22,140 Manhattan Associates shares worth approximately $3.08 million in the second quarter. Institutional investors collectively own 98.45% of the company.
• Analysts maintain a favorable outlook, with eight Buy ratings and three Holds, producing a consensus rating of “Moderate Buy” and an average price target of $209.20.
• Manhattan Associates exceeded quarterly expectations, reporting $1.39 in EPS versus $1.32 expected and revenue of $297.79 million, up 9.3% year over year. Shares opened at $198.38, while company insiders sold $1.74 million of stock over the past 90 days.

Summit Creek Advisors LLC acquired a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 22,140 shares of the software maker's stock, valued at approximately $3,083,000.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Manhattan Associates in the second quarter valued at approximately $944,285,000. Norges Bank acquired a new stake in Manhattan Associates during the 4th quarter worth $124,264,000. T. Rowe Price Investment Management Inc. raised its position in shares of Manhattan Associates by 35.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker's stock valued at $447,182,000 after acquiring an additional 671,589 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Manhattan Associates during the 2nd quarter valued at $54,011,000. Finally, Amundi lifted its stake in shares of 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 purchasing an additional 375,719 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MANH has been the topic of a number of recent analyst reports. Citigroup raised their target price on Manhattan Associates from $177.00 to $193.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. Weiss Ratings raised Manhattan Associates from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, July 14th. Robert W. Baird increased their price target on shares of Manhattan Associates from $186.00 to $218.00 and gave the company an "outperform" rating in a research report on Wednesday, July 29th. Morgan Stanley set a $180.00 price objective on shares of Manhattan Associates in a research note on Wednesday, July 29th. Finally, Barclays decreased their price objective on shares of Manhattan Associates from $239.00 to $201.00 and set an "overweight" rating for the company in a report on Friday, May 29th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $209.20.

Insiders Place Their Bets

In related news, CEO Eric Andrew Clark sold 3,000 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total value of $593,280.00. Following the transaction, the chief executive officer directly owned 89,638 shares of the company's stock, valued at $17,726,810.88. This trade represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP James Stewart Gantt sold 5,139 shares of the business's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $195.53, for a total value of $1,004,828.67. Following the transaction, the executive vice president directly owned 55,676 shares of the company's stock, valued at approximately $10,886,328.28. The trade was a 8.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 9,139 shares of company stock worth $1,744,879 in the last 90 days. 0.84% of the stock is owned by company insiders.

Manhattan Associates Price Performance

Shares of NASDAQ MANH opened at $198.38 on Wednesday. The stock has a market capitalization of $11.57 billion, a price-to-earnings ratio of 56.84 and a beta of 0.93. The business has a 50-day moving average of $161.71 and a 200-day moving average of $147.22. Manhattan Associates, Inc. has a fifty-two week low of $119.06 and a fifty-two week high of $220.59.

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

Manhattan Associates Company 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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