Apollon Wealth Management LLC Decreases Stock Holdings in Manhattan Associates, Inc. $MANH

Apollon Wealth Management LLC cut its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 3.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,534 shares of the software maker’s stock after selling 62 shares during the quarter. Apollon Wealth Management LLC’s holdings in Manhattan Associates were worth $303,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. DAVENPORT & Co LLC acquired a new position in shares of Manhattan Associates during the 1st quarter worth $214,000. Allianz Asset Management GmbH increased its stake 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 last quarter. IFM Investors Pty Ltd raised its holdings in Manhattan Associates by 11.0% in the first quarter. IFM Investors Pty Ltd now owns 13,201 shares of the software maker’s stock valued at $2,284,000 after buying an additional 1,303 shares during the period. Bridges Investment Management Inc. increased its holdings in Manhattan Associates by 111.3% in the 1st quarter. Bridges Investment Management Inc. now owns 4,353 shares of the software maker’s stock valued at $753,000 after purchasing an additional 2,293 shares in the last quarter. Finally, Inspire Investing LLC raised its stake in shares of Manhattan Associates by 243.7% during the first quarter. Inspire Investing LLC now owns 22,948 shares of the software maker’s stock valued at $3,971,000 after purchasing an additional 16,271 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Trading Up 2.0%

Shares of Manhattan Associates stock opened at $196.83 on Friday. The company’s fifty day simple moving average is $210.37 and its 200-day simple moving average is $196.52. The company has a market cap of $11.90 billion, a price-to-earnings ratio of 54.98 and a beta of 1.12. Manhattan Associates, Inc. has a 1 year low of $140.81 and a 1 year high of $312.60.

Manhattan Associates (NASDAQ:MANH) last released its 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 return on equity of 82.91% and a net margin of 20.91%.The business had revenue of $272.42 million for the quarter, compared to the consensus estimate of $263.62 million. During the same period last year, the business earned $1.18 earnings per share. The firm’s revenue for the quarter 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. As a group, research analysts forecast that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MANH shares. Morgan Stanley decreased their price target on shares of Manhattan Associates from $205.00 to $195.00 and set an “underweight” rating for the company in a research report on Tuesday. Zacks Research lowered Manhattan Associates from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 22nd. Raymond James Financial increased their price target on Manhattan Associates from $195.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, July 23rd. Barclays initiated coverage on shares of Manhattan Associates in a research report on Tuesday, October 7th. They issued an “overweight” rating and a $247.00 target price on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Manhattan Associates in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $222.91.

Insider Transactions at Manhattan Associates

In related news, Chairman Eddie Capel sold 37,342 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $222.18, for a total value of $8,296,645.56. Following the transaction, the chairman owned 162,988 shares in the company, valued at $36,212,673.84. This trade represents a 18.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Stewart Gantt sold 2,300 shares of the firm’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 owned 48,660 shares in the company, valued at $10,721,257.80. This represents a 4.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,666 shares of company stock valued at $9,251,781 in the last three months. 0.88% of the stock is owned by corporate insiders.

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.