Castleark Management LLC Takes Position in Manhattan Associates, Inc. $MANH

Castleark Management LLC purchased a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 24,520 shares of the software maker’s stock, valued at approximately $4,842,000.

Several other institutional investors and hedge funds have also bought and sold shares of MANH. Whipplewood Advisors LLC raised its position in shares of Manhattan Associates by 907.7% in the 2nd quarter. Whipplewood Advisors LLC now owns 131 shares of the software maker’s stock worth $26,000 after acquiring an additional 118 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in Manhattan Associates by 117.0% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 230 shares of the software maker’s stock worth $45,000 after purchasing an additional 124 shares during the period. Hantz Financial Services Inc. grew its stake in Manhattan Associates by 1,000.0% in the second quarter. Hantz Financial Services Inc. now owns 308 shares of the software maker’s stock worth $61,000 after purchasing an additional 280 shares during the period. Brooklyn Investment Group raised its holdings in Manhattan Associates by 70.1% in the first quarter. Brooklyn Investment Group now owns 359 shares of the software maker’s stock worth $62,000 after purchasing an additional 148 shares in the last quarter. Finally, Bayforest Capital Ltd lifted its position in Manhattan Associates by 126.6% during the first quarter. Bayforest Capital Ltd now owns 494 shares of the software maker’s stock valued at $85,000 after buying an additional 276 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Stock Up 0.3%

Shares of MANH opened at $173.73 on Monday. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $309.52. The company has a market capitalization of $10.47 billion, a P/E ratio of 49.50 and a beta of 1.02. The firm has a 50 day moving average of $183.46 and a 200 day moving average of $198.04.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, October 21st. The software maker reported $1.36 EPS 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 business had revenue of $275.80 million for the quarter, compared to the consensus estimate of $271.66 million. During the same period last year, the business posted $1.35 EPS. The company’s revenue was up 3.4% compared to the same quarter last year. Manhattan Associates has set its FY 2025 guidance at 4.950-4.970 EPS. On average, sell-side analysts expect that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MANH shares. UBS Group set a $240.00 price target on shares of Manhattan Associates in a research note on Wednesday, October 22nd. Morgan Stanley set a $200.00 price objective on shares of Manhattan Associates and gave the stock an “equal weight” rating in a report on Wednesday, October 22nd. Stifel Nicolaus lowered their target price on shares of Manhattan Associates from $250.00 to $240.00 and set a “buy” rating for the company in a report on Wednesday, October 22nd. DA Davidson set a $250.00 price target on Manhattan Associates in a research 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 issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $222.42.

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.