XTX Topco Ltd Grows Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Key Points

• XTX Topco Ltd increased its holdings in Manhattan Associates by 74.5% in the first quarter, acquiring 3,031 additional shares, bringing their total to 7,100 shares valued at approximately $1,229,000.
• Institutional investors now own 98.45% of Manhattan Associates, with other hedge funds, such as Prudential PLC and SG Americas Securities LLC, also significantly increasing their positions recently.
• Manhattan Associates reported earnings of $1.31 per share for the last quarter, exceeding analysts' expectations, while the stock's average target price among analysts is currently at $216.67.

XTX Topco Ltd boosted its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 74.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 7,100 shares of the software maker's stock after purchasing an additional 3,031 shares during the quarter. XTX Topco Ltd's holdings in Manhattan Associates were worth $1,229,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. GSA Capital Partners LLP purchased a new position in shares of Manhattan Associates in the first quarter worth $661,000. Premier Fund Managers Ltd increased its holdings in Manhattan Associates by 50.1% in the 1st quarter. Premier Fund Managers Ltd now owns 300,122 shares of the software maker's stock worth $52,055,000 after buying an additional 100,122 shares in the last quarter. Meeder Advisory Services Inc. raised its position in Manhattan Associates by 40.1% in the 1st quarter. Meeder Advisory Services Inc. now owns 1,681 shares of the software maker's stock worth $291,000 after buying an additional 481 shares during the last quarter. First National Advisers LLC raised its position in Manhattan Associates by 2.2% in the 1st quarter. First National Advisers LLC now owns 11,846 shares of the software maker's stock worth $2,049,000 after buying an additional 251 shares during the last quarter. Finally, Inspire Advisors LLC lifted its stake in Manhattan Associates by 435.4% during the 1st quarter. Inspire Advisors LLC now owns 13,236 shares of the software maker's stock valued at $2,290,000 after acquiring an additional 10,764 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Manhattan Associates news, Director Linda T. Hollembaek sold 2,024 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total transaction of $448,376.72. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James Stewart Gantt sold 2,300 shares of the 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 sale, the executive vice president directly owned 48,660 shares of the company's stock, valued at approximately $10,721,257.80. This trade represents a 4.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,666 shares of company stock worth $9,251,781. Company insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

MANH has been the subject of several research reports. Robert W. Baird boosted their price objective on shares of Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. DA Davidson lifted their target price on shares of Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Loop Capital boosted 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. Citigroup restated a "neutral" rating and issued a $200.00 price target (up from $177.00) on shares of Manhattan Associates in a research note on Wednesday, July 16th. Finally, Raymond James Financial lifted their price objective on Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $216.67.

Manhattan Associates Trading Down 2.3%

Manhattan Associates stock traded down $5.00 during trading on Friday, reaching $214.66. The company had a trading volume of 476,308 shares, compared to its average volume of 673,420. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60. The firm's 50-day simple moving average is $198.54 and its 200 day simple moving average is $191.06. The firm has a market capitalization of $12.98 billion, a price-to-earnings ratio of 59.96 and a beta of 1.10.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.31 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.19. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%. The business had revenue of $272.42 million during the quarter, compared to analysts' expectations of $263.62 million. During the same quarter in the prior year, the business posted $1.18 earnings per share. The business's quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts predict that Manhattan Associates, Inc. will post 3.3 earnings per share for the current 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.