Park Avenue Securities LLC Decreases Position in Manhattan Associates, Inc. $MANH

Park Avenue Securities LLC decreased its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 7.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,161 shares of the software maker’s stock after selling 248 shares during the period. Park Avenue Securities LLC’s holdings in Manhattan Associates were worth $624,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of MANH. GTS Securities LLC purchased a new stake in shares of Manhattan Associates in the fourth quarter worth about $208,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Manhattan Associates by 10.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,792 shares of the software maker’s stock worth $755,000 after buying an additional 257 shares during the period. First Hawaiian Bank boosted its position in shares of Manhattan Associates by 80.6% in the first quarter. First Hawaiian Bank now owns 1,889 shares of the software maker’s stock worth $327,000 after buying an additional 843 shares during the period. Central Pacific Bank Trust Division boosted its position in shares of Manhattan Associates by 107.3% in the first quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker’s stock worth $34,000 after buying an additional 103 shares during the period. Finally, Versant Capital Management Inc boosted its position in shares of Manhattan Associates by 571.8% in the first quarter. Versant Capital Management Inc now owns 739 shares of the software maker’s stock worth $128,000 after buying an additional 629 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MANH shares. DA Davidson upped their target price on Manhattan Associates from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Robert W. Baird lifted their price objective on Manhattan Associates from $212.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Truist Financial lifted their price objective on Manhattan Associates from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Zacks Research downgraded Manhattan Associates from a “strong-buy” rating to a “hold” rating in a report on Monday, September 22nd. Finally, Morgan Stanley assumed coverage on Manhattan Associates in a report on Monday, July 14th. They set an “underweight” rating and a $190.00 price objective on the stock. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $216.67.

Manhattan Associates Stock Up 0.9%

MANH stock opened at $211.56 on Monday. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60. The company has a market capitalization of $12.79 billion, a PE ratio of 59.10 and a beta of 1.13. The stock’s 50 day moving average is $214.76 and its two-hundred day moving average is $193.93.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, beating 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 the consensus estimate of $263.62 million. During the same period in the previous year, the business earned $1.18 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. As a group, sell-side analysts anticipate that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

Insider Activity

In other news, Chairman Eddie Capel sold 37,342 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chairman directly owned 162,988 shares in the company, valued at approximately $36,212,673.84. The trade was a 18.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Linda T. Hollembaek sold 2,024 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total value of $448,376.72. Following the completion of the sale, the director owned 11,907 shares of the company’s stock, valued at $2,637,757.71. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,666 shares of company stock worth $9,251,781. 0.72% of the stock is currently owned by insiders.

Manhattan Associates Company Profile

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.