Bell Asset Management Ltd Sells 6,527 Shares of Manhattan Associates, Inc. $MANH

Bell Asset Management Ltd trimmed its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 21.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,420 shares of the software maker’s stock after selling 6,527 shares during the period. Bell Asset Management Ltd’s holdings in Manhattan Associates were worth $4,822,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MANH. Jacobs Levy Equity Management Inc. raised its holdings in Manhattan Associates by 1,214.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 606,038 shares of the software maker’s stock valued at $104,869,000 after buying an additional 559,923 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Manhattan Associates by 101.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,100,410 shares of the software maker’s stock worth $190,415,000 after buying an additional 554,840 shares during the period. Swedbank AB increased its position in Manhattan Associates by 116.8% during the first quarter. Swedbank AB now owns 800,000 shares of the software maker’s stock valued at $138,432,000 after acquiring an additional 430,981 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Manhattan Associates by 103.0% in the first quarter. AQR Capital Management LLC now owns 684,663 shares of the software maker’s stock valued at $116,872,000 after acquiring an additional 347,358 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Manhattan Associates by 46,233.9% in the 1st quarter. Jones Financial Companies Lllp now owns 239,083 shares of the software maker’s stock worth $41,371,000 after acquiring an additional 238,567 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Trading Down 0.3%

MANH opened at $176.05 on Thursday. The company has a market capitalization of $10.61 billion, a price-to-earnings ratio of 50.16 and a beta of 1.08. Manhattan Associates, Inc. has a 12-month low of $140.81 and a 12-month high of $312.60. The business’s fifty day simple moving average is $191.41 and its 200-day simple moving average is $199.22.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, October 21st. The software maker reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.18. Manhattan Associates had a return on equity of 78.80% and a net margin of 20.25%.The firm had revenue of $275.80 million during the quarter, compared to the consensus estimate of $271.66 million. During the same period in the previous year, the company posted $1.35 earnings per share. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. Manhattan Associates has set its FY 2025 guidance at 4.950-4.970 EPS. On average, equities research analysts predict that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on MANH shares. Barclays dropped their price target on shares of Manhattan Associates from $244.00 to $239.00 and set an “overweight” rating for the company in a research note on Thursday, November 13th. Raymond James Financial cut their target price on Manhattan Associates from $250.00 to $240.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 22nd. Truist Financial set a $230.00 price target on Manhattan Associates in a report on Wednesday, October 22nd. Morgan Stanley set a $200.00 price objective on Manhattan Associates and gave the company an “equal weight” rating in a report on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Manhattan Associates in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus price target of $222.42.

Manhattan Associates 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.