William Blair Investment Management LLC Sells 87,634 Shares of Manhattan Associates, Inc. $MANH

Key Points

• William Blair Investment Management cut its stake in Manhattan Associates by 11.7% in the fourth quarter, selling 87,634 shares and still holding 660,294 shares worth about $114.4 million.
• Manhattan Associates reported better-than-expected quarterly results, with EPS of $1.24 versus $1.10 expected and revenue of $282.22 million, up 7.4% year over year.
• The company also has a $500 million share repurchase authorization in place, while analysts currently rate the stock a Moderate Buy with a consensus price target of $202.91.

William Blair Investment Management LLC lowered its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 11.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 660,294 shares of the software maker's stock after selling 87,634 shares during the period. William Blair Investment Management LLC owned approximately 1.10% of Manhattan Associates worth $114,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Eagle Bay Advisors LLC purchased a new position in shares of Manhattan Associates during the fourth quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd increased its position in shares of Manhattan Associates by 448.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker's stock worth $28,000 after acquiring an additional 112 shares during the period. TD Private Client Wealth LLC increased its position in shares of Manhattan Associates by 83.8% during the fourth quarter. TD Private Client Wealth LLC now owns 239 shares of the software maker's stock worth $41,000 after acquiring an additional 109 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Manhattan Associates during the fourth quarter worth approximately $44,000. Finally, Leonteq Securities AG purchased a new position in shares of Manhattan Associates during the fourth quarter worth approximately $44,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 7,300 shares of Manhattan Associates stock in a transaction on Friday, April 24th. The shares were sold at an average price of $139.25, for a total value of $1,016,525.00. Following the transaction, the executive vice president directly owned 60,815 shares of the company's stock, valued at approximately $8,468,488.75. The trade was a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.84% of the company's stock.

Manhattan Associates Trading Up 3.0%

NASDAQ MANH opened at $138.64 on Friday. The firm's fifty day simple moving average is $135.22 and its two-hundred day simple moving average is $154.01. Manhattan Associates, Inc. has a 12-month low of $119.06 and a 12-month high of $247.22. The firm has a market capitalization of $8.20 billion, a P/E ratio of 38.83 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The software maker reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.14. Manhattan Associates had a net margin of 19.68% and a return on equity of 78.13%. The business had revenue of $282.22 million for the quarter, compared to analyst estimates of $273.71 million. During the same period in the previous year, the company earned $1.19 earnings per share. The business's revenue for the quarter was up 7.4% on a year-over-year basis. Manhattan Associates has set its FY 2026 guidance at 5.290-5.370 EPS. As a group, sell-side analysts predict that Manhattan Associates, Inc. will post 3.75 earnings per share for the current fiscal year.

Manhattan Associates announced that its board has approved a stock buyback program on Thursday, March 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the software maker to purchase up to 5.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

MANH has been the topic of a number of research reports. Citigroup reduced their target price on shares of Manhattan Associates from $208.00 to $177.00 and set a "buy" rating on the stock in a research report on Wednesday, April 22nd. DA Davidson reissued a "buy" rating and set a $200.00 price objective on shares of Manhattan Associates in a report on Wednesday. Robert W. Baird lifted their price objective on shares of Manhattan Associates from $183.00 to $186.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Rothschild & Co Redburn set a $145.00 price objective on shares of Manhattan Associates in a report on Thursday, April 16th. Finally, Stifel Nicolaus set a $200.00 price objective on shares of Manhattan Associates in a report on Wednesday. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $202.91.

Manhattan Associates Company 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.

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.