Triglav Skladi D.O.O. Acquires New Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Key Points

• Triglav Skladi D.O.O. has acquired a new stake in Manhattan Associates, Inc. by purchasing 1,500 shares valued at approximately $260,000 in the first quarter.
• Several institutional investors have increased their holdings in Manhattan Associates, elevating institutional ownership to 98.45% of the company’s stock.
• Analysts have set new price targets for Manhattan Associates, with the average target now at $216.67 following multiple ratings adjustments from firms like Robert W. Baird and Raymond James Financial.

Triglav Skladi D.O.O. purchased a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,500 shares of the software maker's stock, valued at approximately $260,000.

A number of other hedge funds also recently made changes to their positions in MANH. DAVENPORT & Co LLC acquired a new position in Manhattan Associates in the first quarter worth approximately $214,000. Allianz Asset Management GmbH grew its position in Manhattan Associates by 18.9% during the 1st quarter. Allianz Asset Management GmbH now owns 143,687 shares of the software maker's stock worth $24,864,000 after purchasing an additional 22,845 shares in the last quarter. SG Americas Securities LLC grew its position in Manhattan Associates by 876.3% during the 1st quarter. SG Americas Securities LLC now owns 7,615 shares of the software maker's stock worth $1,318,000 after purchasing an additional 6,835 shares in the last quarter. Abacus FCF Advisors LLC grew its position in Manhattan Associates by 170.0% during the 1st quarter. Abacus FCF Advisors LLC now owns 32,865 shares of the software maker's stock worth $5,687,000 after purchasing an additional 20,691 shares in the last quarter. Finally, Merit Financial Group LLC grew its position in Manhattan Associates by 165.1% during the 1st quarter. Merit Financial Group LLC now owns 4,279 shares of the software maker's stock worth $740,000 after purchasing an additional 2,665 shares in the last quarter. Institutional investors own 98.45% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MANH shares. Raymond James Financial lifted their price objective 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 lifted their target price on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Morgan Stanley began coverage on shares of Manhattan Associates in a research note on Monday, July 14th. They set an "underweight" rating and a $190.00 target price for the company. 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 research note on Wednesday, July 16th. Finally, Loop Capital lifted their target price on shares of Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a research note on Tuesday, July 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $216.67.

Insider Activity at Manhattan Associates

In related news, 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 value of $448,376.72. Following the sale, the director owned 11,907 shares of the company's stock, valued at $2,637,757.71. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP James Stewart Gantt sold 2,300 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $220.33, for a total transaction of $506,759.00. Following the completion of the sale, the executive vice president directly owned 48,660 shares in the company, valued at approximately $10,721,257.80. The trade was a 4.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,666 shares of company stock valued at $9,251,781 over the last quarter. 0.88% of the stock is owned by company insiders.

Manhattan Associates Trading Down 0.2%

MANH traded down $0.41 during trading on Friday, hitting $214.79. The stock had a trading volume of 368,831 shares, compared to its average volume of 687,650. The company has a 50 day simple moving average of $203.51 and a 200-day simple moving average of $187.27. Manhattan Associates, Inc. has a 12 month low of $140.81 and a 12 month high of $312.60. The firm has a market cap of $12.99 billion, a PE ratio of 60.00 and a beta of 1.10.

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 (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.19. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The company had revenue of $272.42 million for the quarter, compared to the consensus estimate of $263.62 million. During the same quarter in the previous year, the firm posted $1.18 EPS. The business's revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

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.