United Services Automobile Association Takes $691,000 Position in Manhattan Associates, Inc. $MANH

Key Points

• United Services Automobile Association invested approximately $691,000 in Manhattan Associates by acquiring 3,981 shares during the first quarter.
• Manhattan Associates recently reported quarterly earnings of $1.31 EPS, surpassing analysts' expectations of $1.12, with revenue of $272.42 million for the quarter.
• Insider transactions included significant sales from Director Linda T. Hollembaek and Chairman Eddie Capel, with the latter selling over 37,000 shares valued at approximately $8.3 million.

United Services Automobile Association purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,981 shares of the software maker's stock, valued at approximately $691,000.

Other hedge funds have also recently bought and sold shares of the company. DAVENPORT & Co LLC purchased a new position in Manhattan Associates in the first quarter valued at approximately $214,000. Allianz Asset Management GmbH raised its holdings in Manhattan Associates by 18.9% in the first quarter. Allianz Asset Management GmbH now owns 143,687 shares of the software maker's stock valued at $24,864,000 after buying an additional 22,845 shares during the period. SG Americas Securities LLC raised its holdings in Manhattan Associates by 876.3% in the first quarter. SG Americas Securities LLC now owns 7,615 shares of the software maker's stock valued at $1,318,000 after buying an additional 6,835 shares during the period. Abacus FCF Advisors LLC raised its holdings in Manhattan Associates by 170.0% in the first quarter. Abacus FCF Advisors LLC now owns 32,865 shares of the software maker's stock valued at $5,687,000 after buying an additional 20,691 shares during the period. Finally, Merit Financial Group LLC raised its holdings in Manhattan Associates by 165.1% in the first quarter. Merit Financial Group LLC now owns 4,279 shares of the software maker's stock valued at $740,000 after buying an additional 2,665 shares during the period. Hedge funds and other institutional investors own 98.45% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MANH shares. Morgan Stanley started coverage on shares of Manhattan Associates in a research note on Monday, July 14th. They set an "underweight" rating and a $190.00 price objective on the stock. Loop Capital lifted their price objective 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. Citigroup reiterated a "neutral" rating and set a $200.00 price objective (up previously from $177.00) on shares of Manhattan Associates in a research note on Wednesday, July 16th. Truist Financial lifted their price objective 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. Finally, Redburn Atlantic lowered shares of Manhattan Associates from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $270.00 to $200.00 in a research note on Tuesday, June 10th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $216.67.

Manhattan Associates Stock Performance

Shares of MANH stock traded down $3.16 during mid-day trading on Friday, reaching $216.10. 435,532 shares of the company were exchanged, compared to its average volume of 452,648. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60. The company has a market capitalization of $13.07 billion, a P/E ratio of 60.36 and a beta of 1.13. The business's 50 day simple moving average is $212.02 and its 200 day simple moving average is $190.64.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share 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 the consensus estimate of $263.62 million. During the same quarter last year, the company earned $1.18 earnings per share. The business's quarterly revenue was up 2.7% compared to the same quarter last year. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. On average, analysts forecast that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

Insiders Place Their Bets

In other Manhattan Associates news, Director Linda T. Hollembaek sold 2,024 shares of Manhattan Associates stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total value of $448,376.72. Following the completion of the transaction, 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 document filed with the SEC, which is available through this link. 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 transaction of $506,759.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders sold a total of 41,666 shares of company stock valued at $9,251,781 over the last 90 days. 0.88% of the stock is owned by company insiders.

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.