Two Sigma Securities LLC Invests $689,000 in Manhattan Associates, Inc. $MANH

Key Points

• Two Sigma Securities acquired 4,947 shares of Manhattan Associates worth approximately $689,000 during the second quarter. Institutional investors collectively own 98.45% of the company.
• Manhattan Associates reported quarterly EPS of $1.39, beating estimates of $1.32, while revenue rose 9.3% year over year to $297.79 million.
• The stock opened at $216.21, near its 52-week high of $227.03. Analysts maintain a “Moderate Buy” consensus with an average price target of $213.40, while company insiders sold 9,139 shares worth about $1.74 million in the last quarter.

Two Sigma Securities LLC acquired a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 4,947 shares of the software maker's stock, valued at approximately $689,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MANH. NewEdge Advisors LLC lifted its stake in Manhattan Associates by 3.3% during the second quarter. NewEdge Advisors LLC now owns 1,852 shares of the software maker's stock worth $366,000 after purchasing an additional 59 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Manhattan Associates by 2.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,708 shares of the software maker's stock valued at $555,000 after purchasing an additional 69 shares during the last quarter. Covestor Ltd raised its holdings in shares of Manhattan Associates by 12.2% during the 4th quarter. Covestor Ltd now owns 670 shares of the software maker's stock valued at $116,000 after buying an additional 73 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in Manhattan Associates by 1.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 6,369 shares of the software maker's stock worth $1,104,000 after buying an additional 80 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its position in Manhattan Associates by 35.9% in the 1st quarter. V Square Quantitative Management LLC now owns 348 shares of the software maker's stock worth $46,000 after buying an additional 92 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock opened at $216.21 on Wednesday. The company has a 50-day moving average of $177.57 and a 200 day moving average of $152.18. Manhattan Associates, Inc. has a 1 year low of $119.06 and a 1 year high of $227.03. The firm has a market cap of $12.61 billion, a price-to-earnings ratio of 61.95 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.07. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The company had revenue of $297.79 million for the quarter, compared to the consensus estimate of $289.03 million. During the same quarter in the prior year, the business posted $1.31 EPS. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. On average, equities analysts anticipate that Manhattan Associates, Inc. will post 3.87 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on MANH. Wall Street Zen cut shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Robert W. Baird upped their price objective on shares of Manhattan Associates from $218.00 to $260.00 and gave the company an "outperform" rating in a research note on Wednesday, August 26th. Citigroup increased their target price on shares of Manhattan Associates from $177.00 to $193.00 and gave the company a "buy" rating in a report on Tuesday, July 21st. Barclays decreased their price target on Manhattan Associates from $239.00 to $201.00 and set an "overweight" rating on the stock in a research note on Friday, May 29th. Finally, DA Davidson boosted their price objective on shares of Manhattan Associates from $200.00 to $210.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $213.40.

Insider Buying and Selling

In other news, EVP James Stewart Gantt sold 5,139 shares of the company's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the transaction, the executive vice president directly owned 55,676 shares of the company's stock, valued at $10,886,328.28. This represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Eric Andrew Clark sold 3,000 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total value of $593,280.00. Following the sale, the chief executive officer directly owned 89,638 shares in the company, valued at $17,726,810.88. This trade represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 9,139 shares of company stock worth $1,744,879. Corporate insiders own 0.84% of the company's stock.

Manhattan Associates Profile

Manhattan Associates, Inc NASDAQ: MANH is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.

Want to see what other hedge funds are holding MANH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manhattan Associates, Inc. (NASDAQ:MANH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source