Wealth Enhancement Advisory Services LLC Has $4.45 Million Position in Manhattan Associates, Inc. $MANH

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Manhattan Associates, Inc. by 187.1% to a total of 22,247 shares, valued at approximately $4.45 million.
• Several hedge funds, including Allianz Asset Management and SG Americas Securities, significantly boosted their holdings in Manhattan Associates, with institutional investors now owning 98.45% of the company's stock.
• Manhattan Associates recently exceeded earnings expectations, reporting $1.31 EPS and revenues of $272.42 million for the quarter, prompting various analysts to adjust their price targets upward.

Wealth Enhancement Advisory Services LLC lifted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 187.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,247 shares of the software maker's stock after purchasing an additional 14,498 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Manhattan Associates were worth $4,448,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. DAVENPORT & Co LLC acquired a new position in shares of Manhattan Associates during the first quarter worth approximately $214,000. Allianz Asset Management GmbH increased its position in Manhattan Associates by 18.9% during the first quarter. Allianz Asset Management GmbH now owns 143,687 shares of the software maker's stock worth $24,864,000 after acquiring an additional 22,845 shares during the period. SG Americas Securities LLC boosted 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 purchasing an additional 6,835 shares during the period. Abacus FCF Advisors LLC grew its position in Manhattan Associates by 170.0% in 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 during the last quarter. Finally, Merit Financial Group LLC grew its position in Manhattan Associates by 165.1% in 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 during the last quarter. Institutional investors own 98.45% of the company's stock.

Insider Transactions at Manhattan Associates

In related news, Chairman Eddie Capel sold 37,342 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $222.18, for a total transaction of $8,296,645.56. Following the completion of the sale, the chairman directly owned 162,988 shares of the company's stock, valued at $36,212,673.84. This trade represents a 18.64% 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 the business's 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 completion of the transaction, the executive vice president directly owned 48,660 shares in the company, 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. Over the last 90 days, insiders sold 41,666 shares of company stock valued at $9,251,781. Corporate insiders own 0.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MANH shares. Citigroup reiterated a "neutral" rating and issued a $200.00 target price (up previously from $177.00) on shares of Manhattan Associates in a research note on Wednesday, July 16th. Truist Financial raised their price objective on Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Raymond James Financial boosted their price objective on Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Redburn Atlantic cut Manhattan Associates from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $270.00 to $200.00 in a research report on Tuesday, June 10th. Finally, DA Davidson lifted their price target on shares of Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Manhattan Associates presently has an average rating of "Hold" and a consensus target price of $216.67.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $209.70 on Friday. The business has a 50 day simple moving average of $214.57 and a 200 day simple moving average of $193.23. The company has a market capitalization of $12.68 billion, a PE ratio of 58.58 and a beta of 1.13. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released 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. The firm had revenue of $272.42 million during the quarter, compared to analyst estimates of $263.62 million. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%.The business's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.18 earnings per share. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. Equities 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.

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