HighTower Advisors LLC Has $702,000 Stock Position in Manhattan Associates, Inc. $MANH

HighTower Advisors LLC lowered its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 21.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,058 shares of the software maker’s stock after selling 1,098 shares during the quarter. HighTower Advisors LLC’s holdings in Manhattan Associates were worth $702,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in MANH. Lazard Asset Management LLC raised its stake in Manhattan Associates by 2,075.5% during the 4th quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker’s stock worth $107,842,000 after buying an additional 380,722 shares during the period. Nuveen LLC bought a new position in Manhattan Associates during the first quarter worth about $40,174,000. GAMMA Investing LLC lifted its holdings in Manhattan Associates by 10,499.0% during the first quarter. GAMMA Investing LLC now owns 176,155 shares of the software maker’s stock worth $30,482,000 after acquiring an additional 174,493 shares in the last quarter. Northern Trust Corp lifted its holdings in Manhattan Associates by 26.5% during the fourth quarter. Northern Trust Corp now owns 761,820 shares of the software maker’s stock worth $205,874,000 after acquiring an additional 159,572 shares in the last quarter. Finally, AustralianSuper Pty Ltd lifted its holdings in Manhattan Associates by 59.6% during the first quarter. AustralianSuper Pty Ltd now owns 371,526 shares of the software maker’s stock worth $64,289,000 after acquiring an additional 138,807 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Activity at Manhattan Associates

In related news, EVP James Stewart Gantt sold 2,300 shares of Manhattan Associates stock in a transaction dated 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 transaction, the executive vice president owned 48,660 shares in the company, valued at approximately $10,721,257.80. This trade represents a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Eddie Capel sold 37,342 shares of Manhattan Associates 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 of the company’s stock, valued at $36,212,673.84. The trade was a 18.64% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,666 shares of company stock valued at $9,251,781. 0.88% of the stock is owned by insiders.

Manhattan Associates Price Performance

MANH opened at $218.46 on Friday. The business’s 50-day moving average price is $207.92 and its two-hundred day moving average price is $188.34. Manhattan Associates, Inc. has a 1 year low of $140.81 and a 1 year high of $312.60. The company has a market capitalization of $13.21 billion, a price-to-earnings ratio of 61.02 and a beta of 1.10.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.19. The business had revenue of $272.42 million for the quarter, compared to the consensus estimate of $263.62 million. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%.Manhattan Associates’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.18 earnings per share. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. Sell-side analysts anticipate that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MANH has been the topic of several recent analyst reports. Citigroup reiterated a “neutral” rating and set a $200.00 target price (up from $177.00) on shares of Manhattan Associates in a report on Wednesday, July 16th. Robert W. Baird lifted their target price on Manhattan Associates from $212.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Raymond James Financial lifted their target price on Manhattan Associates from $195.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, July 23rd. Loop Capital lifted their price target on Manhattan Associates from $170.00 to $200.00 and gave the company a “hold” rating in a research note on Tuesday, July 22nd. Finally, Morgan Stanley initiated coverage on Manhattan Associates in a research note on Monday, July 14th. They issued an “underweight” rating and a $190.00 price target on the stock. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $216.67.

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.