Nykredit A S purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH – Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,519 shares of the software maker’s stock, valued at approximately $351,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in MANH. Fundsmith LLP raised its stake in shares of Manhattan Associates by 43.1% in the second quarter. Fundsmith LLP now owns 172,977 shares of the software maker’s stock worth $24,087,000 after acquiring an additional 52,089 shares during the last quarter. Two Sigma Securities LLC bought a new stake in shares of Manhattan Associates during the second quarter valued at approximately $689,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Manhattan Associates in the second quarter valued at approximately $843,000. United Capital Financial Advisors LLC acquired a new stake in shares of Manhattan Associates in the second quarter valued at approximately $236,000. Finally, Public Employees Retirement System of Ohio bought a new position in Manhattan Associates in the 2nd quarter worth approximately $2,567,000. Institutional investors and hedge funds own 98.45% of the company’s stock.
Analyst Upgrades and Downgrades
MANH has been the topic of a number of recent research reports. Stifel Nicolaus increased their price objective on Manhattan Associates from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Weiss Ratings upgraded Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Morgan Stanley set a $180.00 price target on Manhattan Associates in a research note on Wednesday, July 29th. Wall Street Zen cut Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Robert W. Baird boosted their price objective on Manhattan Associates from $218.00 to $260.00 and gave the stock an “outperform” rating in a report on Wednesday, August 26th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Manhattan Associates presently has an average rating of “Moderate Buy” and an average target price of $217.20.
Insider Activity
In related news, CEO Eric Clark sold 3,000 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total transaction of $593,280.00. Following the transaction, the chief executive officer owned 89,638 shares of the company’s stock, valued at $17,726,810.88. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Gantt sold 5,139 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the completion of the sale, the executive vice president owned 55,676 shares in the company, valued at approximately $10,886,328.28. This trade represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.84% of the stock is currently owned by insiders.
Manhattan Associates Stock Performance
Shares of Manhattan Associates stock opened at $206.10 on Thursday. The firm has a fifty day moving average of $186.78 and a two-hundred day moving average of $155.24. The stock has a market capitalization of $12.02 billion, a price-to-earnings ratio of 59.05 and a beta of 0.95. Manhattan Associates, Inc. has a 52 week low of $119.06 and a 52 week high of $227.03.
Manhattan Associates (NASDAQ:MANH – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.07. The business had revenue of $297.79 million during the quarter, compared to analysts’ expectations of $289.03 million. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.31 earnings per share. As a group, research analysts forecast that Manhattan Associates, Inc. will post 3.87 EPS for the current fiscal year.
Manhattan Associates 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.
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