Synovus Financial Corp Purchases New Position in Manhattan Associates, Inc. $MANH

Key Points

• Synovus Financial Corp has made a new investment of approximately $468,000 in Manhattan Associates, acquiring 2,706 shares in the software company during the first quarter.
• Various other institutional investors have also increased their stakes in Manhattan Associates, leading to 98.45% of the company's stock being held by institutional investors.
• Manhattan Associates reported a quarterly earnings per share (EPS) of $1.31, exceeding analysts' expectations and indicating a revenue growth of 2.7% compared to the previous year.

Synovus Financial Corp acquired a new stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 2,706 shares of the software maker's stock, valued at approximately $468,000.

Several other institutional investors have also added to or reduced their stakes in MANH. Central Pacific Bank Trust Division lifted 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 valued at $34,000 after acquiring an additional 103 shares in the last quarter. Park Square Financial Group LLC bought a new stake in Manhattan Associates in the 4th quarter valued at $38,000. Brooklyn Investment Group lifted its position in Manhattan Associates by 70.1% in the 1st quarter. Brooklyn Investment Group now owns 359 shares of the software maker's stock valued at $62,000 after acquiring an additional 148 shares in the last quarter. Reyes Financial Architecture Inc. lifted its position in Manhattan Associates by 42.5% in the 1st quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock valued at $82,000 after acquiring an additional 142 shares in the last quarter. Finally, Bayforest Capital Ltd lifted its position in Manhattan Associates by 126.6% during 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 in the last quarter. 98.45% of the stock is owned by institutional investors.

Insider Activity at Manhattan Associates

In related news, Chairman Eddie Capel sold 37,342 shares of the company'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 transaction, the chairman owned 162,988 shares in the company, valued at approximately $36,212,673.84. This represents a 18.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Linda T. Hollembaek sold 2,024 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total transaction of $448,376.72. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,666 shares of company stock worth $9,251,781. Insiders own 0.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MANH. Redburn Atlantic cut shares of Manhattan Associates from a "buy" rating to a "neutral" rating and cut their price target for the stock from $270.00 to $200.00 in a research report on Tuesday, June 10th. Robert W. Baird boosted their price target on shares of Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Raymond James Financial boosted their price target on shares of Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Truist Financial boosted their price target on shares of Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Loop Capital boosted their price target on shares of Manhattan Associates from $170.00 to $200.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Manhattan Associates currently has an average rating of "Moderate Buy" and an average target price of $216.67.

Manhattan Associates Stock Down 1.4%

Shares of MANH stock traded down $3.02 on Monday, reaching $215.44. The stock had a trading volume of 417,262 shares, compared to its average volume of 480,298. The firm's 50-day moving average is $208.50 and its two-hundred day moving average is $188.65. The firm has a market capitalization of $13.03 billion, a price-to-earnings ratio of 60.18 and a beta of 1.13. Manhattan Associates, Inc. has a 12 month low of $140.81 and a 12 month high of $312.60.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.19. The company had revenue of $272.42 million for 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 quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.18 EPS. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. On average, sell-side analysts forecast 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.