T. Rowe Price Investment Management Inc. Invests $19.44 Million in Manhattan Associates, Inc. $MANH

Key Points

• T. Rowe Price Investment Management Inc. acquired 112,355 shares of Manhattan Associates, Inc., valued at approximately $19.4 million, representing a 0.19% ownership in the company.
• Several hedge funds, including Central Pacific Bank Trust Division and Brooklyn Investment Group, have significantly increased their stakes in Manhattan Associates recently.
• Manhattan Associates reported a year-over-year revenue increase of 2.7% with earnings per share of $1.31, exceeding analysts' expectations of $1.12.

T. Rowe Price Investment Management Inc. bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 112,355 shares of the software maker's stock, valued at approximately $19,442,000. T. Rowe Price Investment Management Inc. owned approximately 0.19% of Manhattan Associates at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Central Pacific Bank Trust Division increased its stake in shares of Manhattan Associates by 107.3% in the first quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock valued at $34,000 after buying an additional 103 shares during the period. Park Square Financial Group LLC acquired a new stake in Manhattan Associates during the 4th quarter valued at approximately $38,000. Brooklyn Investment Group increased its position in Manhattan Associates by 70.1% during the 1st quarter. Brooklyn Investment Group now owns 359 shares of the software maker's stock valued at $62,000 after purchasing an additional 148 shares during the period. Reyes Financial Architecture Inc. increased its position in Manhattan Associates by 42.5% during the 1st quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock valued at $82,000 after purchasing an additional 142 shares during the period. Finally, Bayforest Capital Ltd increased 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 valued at $85,000 after purchasing an additional 276 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

Wall Street Analysts Forecast Growth

MANH has been the subject of a number of recent analyst reports. Redburn Atlantic downgraded shares of Manhattan Associates from a "buy" rating to a "neutral" rating and decreased their target price for the company from $270.00 to $200.00 in a research report on Tuesday, June 10th. Citigroup reissued a "neutral" rating and set a $200.00 target price (up previously from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Robert W. Baird increased their target price on shares of Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Truist Financial increased their target price on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Raymond James Financial increased their target price 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. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $216.67.

Insider Buying and Selling at Manhattan Associates

In other news, Director Linda T. Hollembaek sold 2,024 shares of Manhattan Associates stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $221.53, for a total transaction of $448,376.72. Following the sale, the director directly owned 11,907 shares in the company, valued at $2,637,757.71. The trade was a 14.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James Stewart Gantt sold 2,300 shares of Manhattan Associates stock in a transaction on Friday, July 25th. The stock was sold at an average price of $220.33, for a total value of $506,759.00. Following the sale, the executive vice president owned 48,660 shares in the company, valued at $10,721,257.80. The trade was a 4.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,666 shares of company stock worth $9,251,781. Corporate insiders own 0.88% of the company's stock.

Manhattan Associates Stock Down 1.9%

NASDAQ:MANH traded down $4.13 during trading hours on Friday, hitting $214.33. 160,230 shares of the company traded hands, compared to its average volume of 785,977. The firm's 50-day simple moving average is $207.92 and its 200-day simple moving average is $188.34. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60. The company has a market cap of $12.96 billion, a PE ratio of 59.88 and a beta of 1.10.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.19. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%.The business had revenue of $272.42 million for the quarter, compared to analysts' expectations of $263.62 million. During the same period last year, the business earned $1.18 EPS. The business'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, equities research analysts expect that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

Manhattan Associates 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.