Swedbank AB Boosts Stock Position in Manhattan Associates, Inc. $MANH

Key Points

• Swedbank AB increased its stake in Manhattan Associates, Inc. by 50% during Q2, now holding approximately 1.98% of the company, valued at $236.96 million.
• Manhattan Associates reported a quarterly EPS of $1.31, surpassing analysts' expectations, with revenue reaching $272.42 million, a 2.7% increase year-over-year.
• Several analysts recently raised their target prices for Manhattan Associates, with the average price target now at $216.67, indicating a consensus rating of "Moderate Buy."

Swedbank AB lifted its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 50.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,199,969 shares of the software maker's stock after purchasing an additional 399,969 shares during the quarter. Swedbank AB owned about 1.98% of Manhattan Associates worth $236,958,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the business. Cetera Investment Advisers boosted its stake in Manhattan Associates by 38.6% during the fourth quarter. Cetera Investment Advisers now owns 5,902 shares of the software maker's stock valued at $1,595,000 after buying an additional 1,645 shares during the last quarter. Focus Partners Wealth purchased a new position in Manhattan Associates in the 4th quarter worth $252,000. Janus Henderson Group PLC raised its stake in shares of Manhattan Associates by 20.5% during the 4th quarter. Janus Henderson Group PLC now owns 3,327 shares of the software maker's stock valued at $899,000 after buying an additional 565 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Manhattan Associates by 7.0% in the 4th quarter. ProShare Advisors LLC now owns 2,858 shares of the software maker's stock valued at $772,000 after purchasing an additional 188 shares in the last quarter. Finally, Snowden Capital Advisors LLC boosted its holdings in shares of Manhattan Associates by 4.1% during the 4th quarter. Snowden Capital Advisors LLC now owns 2,417 shares of the software maker's stock worth $653,000 after purchasing an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MANH. Morgan Stanley began coverage on Manhattan Associates in a research report on Monday, July 14th. They set an "underweight" rating and a $190.00 price objective on the stock. Robert W. Baird lifted their target price on shares of Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Raymond James Financial boosted their price objective on shares of Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. DA Davidson upped their target price on Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Truist Financial boosted their price target on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $216.67.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, Chairman Eddie Capel sold 37,342 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $222.18, for a total value of $8,296,645.56. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Linda T. Hollembaek sold 2,024 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $221.53, for a total value of $448,376.72. Following the completion of the transaction, the director owned 11,907 shares of the company's stock, valued at approximately $2,637,757.71. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,666 shares of company stock worth $9,251,781 in the last ninety days. Company insiders own 0.72% of the company's stock.

Manhattan Associates Stock Performance

MANH traded down $1.91 during trading on Monday, reaching $215.80. 392,008 shares of the stock were exchanged, compared to its average volume of 557,170. The stock has a market cap of $13.05 billion, a P/E ratio of 60.28 and a beta of 1.13. The stock's 50 day moving average price is $213.86 and its two-hundred day moving average price is $192.64. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $272.42 million during the quarter, compared to analysts' expectations of $263.62 million. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. Manhattan Associates's revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.18 earnings per share. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. Equities research analysts predict that Manhattan Associates, Inc. will post 3.3 earnings per share 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.