Sone Capital Management LLC Acquires Shares of 106,792 Manhattan Associates, Inc. $MANH

Sone Capital Management LLC acquired a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 106,792 shares of the software maker’s stock, valued at approximately $14,871,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Manhattan Associates in the second quarter worth $944,285,000. Norges Bank purchased a new stake in Manhattan Associates during the 4th quarter valued at $124,264,000. William Blair Investment Management LLC purchased a new stake in Manhattan Associates during the 2nd quarter valued at $94,049,000. T. Rowe Price Investment Management Inc. boosted its position in Manhattan Associates by 35.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker’s stock valued at $447,182,000 after buying an additional 671,589 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Manhattan Associates in the 2nd quarter worth $54,011,000. Institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on MANH. Stifel Nicolaus upped their price objective on shares of Manhattan Associates from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Barclays cut their target price on Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Robert W. Baird boosted their price target on Manhattan Associates from $186.00 to $218.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Wall Street Zen lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Citigroup increased their price objective on Manhattan Associates from $177.00 to $193.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $209.20.

Manhattan Associates Stock Performance

MANH stock opened at $213.18 on Tuesday. The firm has a 50 day moving average price of $167.16 and a 200-day moving average price of $149.00. Manhattan Associates, Inc. has a 52-week low of $119.06 and a 52-week high of $220.31. The firm has a market capitalization of $12.43 billion, a price-to-earnings ratio of 61.08 and a beta of 0.93.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.07. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The company had revenue of $297.79 million for the quarter, compared to the consensus estimate of $289.03 million. During the same quarter in the prior year, the business posted $1.31 EPS. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Manhattan Associates, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 5,139 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $195.53, for a total value of $1,004,828.67. Following the sale, the executive vice president directly owned 55,676 shares of the company’s stock, valued at approximately $10,886,328.28. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Eric Andrew Clark sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total value of $593,280.00. Following the transaction, the chief executive officer owned 89,638 shares of the company’s stock, valued at $17,726,810.88. The trade was a 3.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 9,139 shares of company stock worth $1,744,879 over the last three months. Corporate insiders own 0.84% of the company’s stock.

About Manhattan Associates

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.