AlphaQuest LLC Has $1.04 Million Stock Position in Manhattan Associates, Inc. $MANH

AlphaQuest LLC raised its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 108.4% during the second quarter, HoldingsChannel.com reports. The firm owned 5,282 shares of the software maker’s stock after buying an additional 2,748 shares during the quarter. AlphaQuest LLC’s holdings in Manhattan Associates were worth $1,043,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. DAVENPORT & Co LLC purchased a new position in Manhattan Associates in the first quarter valued at about $214,000. Allianz Asset Management GmbH grew its stake in Manhattan Associates by 18.9% in the first quarter. Allianz Asset Management GmbH now owns 143,687 shares of the software maker’s stock valued at $24,864,000 after purchasing an additional 22,845 shares in the last quarter. IFM Investors Pty Ltd grew its stake in Manhattan Associates by 11.0% in the first quarter. IFM Investors Pty Ltd now owns 13,201 shares of the software maker’s stock valued at $2,284,000 after purchasing an additional 1,303 shares in the last quarter. Bridges Investment Management Inc. grew its stake in Manhattan Associates by 111.3% in the first quarter. Bridges Investment Management Inc. now owns 4,353 shares of the software maker’s stock valued at $753,000 after purchasing an additional 2,293 shares in the last quarter. Finally, Inspire Investing LLC grew its stake in Manhattan Associates by 243.7% in the first quarter. Inspire Investing LLC now owns 22,948 shares of the software maker’s stock valued at $3,971,000 after purchasing an additional 16,271 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Activity at Manhattan Associates

In related news, Director Linda T. Hollembaek sold 2,024 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $221.53, for a total transaction of $448,376.72. Following the completion of the sale, the director owned 11,907 shares in the company, valued at $2,637,757.71. This represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Eddie Capel sold 37,342 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $222.18, for a total value of $8,296,645.56. Following the sale, the chairman owned 162,988 shares of the company’s stock, valued at approximately $36,212,673.84. The trade was a 18.64% decrease in their position. The disclosure for this sale can be found here. 0.88% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on MANH. Citigroup restated a “neutral” rating and issued a $200.00 target price (up previously from $177.00) on shares of Manhattan Associates in a research note on Wednesday, July 16th. DA Davidson set a $250.00 target price on Manhattan Associates in a research note on Wednesday. Truist Financial set a $230.00 price target on Manhattan Associates in a research note on Wednesday. Stifel Nicolaus decreased their price target on Manhattan Associates from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Robert W. Baird upped their price target on Manhattan Associates from $212.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $222.83.

Manhattan Associates Stock Performance

MANH opened at $194.85 on Friday. The company has a market cap of $11.78 billion, a PE ratio of 55.51 and a beta of 1.12. The stock has a 50-day moving average of $208.78 and a 200-day moving average of $198.20. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results 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 quarter in the prior year, the company earned $1.35 EPS. The firm’s revenue for the quarter 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, research analysts predict that Manhattan Associates, Inc. will post 3.3 earnings per share for the current year.

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.