TD Asset Management Inc Purchases 136,121 Shares of Manhattan Associates, Inc. $MANH

Key Points

• TD Asset Management Inc has increased its stake in Manhattan Associates by 38.5%, now owning 489,427 shares valued at approximately $96.65 million.
• Manhattan Associates recently reported earnings of $1.31 EPS for the quarter, exceeding analyst expectations and reflecting a 2.7% year-over-year revenue increase.
• Analysts have varied price targets for Manhattan Associates, with estimates ranging from $195 to $250, indicating mixed outlooks based on recent market performance.

TD Asset Management Inc increased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 38.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 489,427 shares of the software maker's stock after purchasing an additional 136,121 shares during the period. TD Asset Management Inc owned 0.81% of Manhattan Associates worth $96,647,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. DAVENPORT & Co LLC bought a new stake in shares of Manhattan Associates during the 1st quarter valued at $214,000. Allianz Asset Management GmbH increased its holdings in Manhattan Associates by 18.9% in the 1st quarter. Allianz Asset Management GmbH now owns 143,687 shares of the software maker's stock valued at $24,864,000 after acquiring an additional 22,845 shares during the last quarter. SG Americas Securities LLC increased its holdings in Manhattan Associates by 876.3% in the 1st quarter. SG Americas Securities LLC now owns 7,615 shares of the software maker's stock valued at $1,318,000 after acquiring an additional 6,835 shares during the last quarter. IFM Investors Pty Ltd increased its holdings in Manhattan Associates by 11.0% in the 1st quarter. IFM Investors Pty Ltd now owns 13,201 shares of the software maker's stock valued at $2,284,000 after acquiring an additional 1,303 shares during the last quarter. Finally, Bridges Investment Management Inc. increased its holdings in Manhattan Associates by 111.3% in the 1st quarter. Bridges Investment Management Inc. now owns 4,353 shares of the software maker's stock valued at $753,000 after acquiring an additional 2,293 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Eddie Capel sold 37,342 shares of Manhattan Associates 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 directly owned 162,988 shares of the company's stock, valued at approximately $36,212,673.84. The trade was a 18.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Stewart Gantt sold 2,300 shares of Manhattan Associates stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $220.33, for a total transaction of $506,759.00. Following the transaction, the executive vice president directly owned 48,660 shares of the company's stock, valued at approximately $10,721,257.80. This represents a 4.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,666 shares of company stock valued at $9,251,781. Company insiders own 0.72% of the company's stock.

Manhattan Associates Stock Down 0.1%

Shares of NASDAQ:MANH opened at $200.53 on Wednesday. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60. The stock has a market capitalization of $12.13 billion, a P/E ratio of 56.01 and a beta of 1.12. The firm has a fifty day simple moving average of $211.24 and a two-hundred day simple moving average of $196.09.

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

Analysts Set New Price Targets

A number of analysts have issued reports on MANH shares. Morgan Stanley reduced their price target on shares of Manhattan Associates from $205.00 to $195.00 and set an "underweight" rating on the stock in a report on Tuesday. Citigroup reiterated a "neutral" rating and issued a $200.00 price target (up from $177.00) on shares of Manhattan Associates in a report on Wednesday, July 16th. Raymond James Financial lifted their price target 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. DA Davidson lifted their price target on shares of Manhattan Associates from $225.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Truist Financial lifted 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Manhattan Associates has a consensus rating of "Moderate Buy" and an average price target of $222.91.

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.

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