Engineers Gate Manager LP Grows Position in Manhattan Associates, Inc. $MANH

Engineers Gate Manager LP boosted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 1,309.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 132,846 shares of the software maker’s stock after acquiring an additional 123,418 shares during the period. Engineers Gate Manager LP’s holdings in Manhattan Associates were worth $18,499,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. California State Teachers Retirement System boosted its holdings in shares of Manhattan Associates by 13,428.1% during the 2nd quarter. California State Teachers Retirement System now owns 9,492,116 shares of the software maker’s stock valued at $1,321,777,000 after acquiring an additional 9,421,950 shares during the last quarter. BlackRock Inc. bought a new position in Manhattan Associates during the second quarter valued at approximately $944,285,000. T. Rowe Price Investment Management Inc. lifted its position in Manhattan Associates by 35.2% during the fourth 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 purchasing an additional 671,589 shares during the period. AQR Capital Management LLC boosted its holdings in Manhattan Associates by 6.9% in the fourth quarter. AQR Capital Management LLC now owns 2,219,539 shares of the software maker’s stock worth $384,668,000 after purchasing an additional 142,407 shares during the last quarter. Finally, Morgan Stanley grew its position in Manhattan Associates by 2.5% in the 4th quarter. Morgan Stanley now owns 2,178,422 shares of the software maker’s stock worth $377,543,000 after purchasing an additional 53,037 shares during the period. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Price Performance

Shares of MANH stock opened at $206.10 on Thursday. Manhattan Associates, Inc. has a 1 year low of $119.06 and a 1 year high of $227.03. The firm has a fifty day moving average price of $186.78 and a 200-day moving average price of $155.24. The company has a market cap of $12.02 billion, a price-to-earnings ratio of 59.05 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, beating 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 period in the previous year, the business earned $1.31 earnings per share. Manhattan Associates’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities research analysts expect that Manhattan Associates, Inc. will post 3.87 EPS for the current year.

Insider Activity

In related news, CEO Eric Clark sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total transaction of $593,280.00. Following the completion of the transaction, the chief executive officer directly owned 89,638 shares in the company, valued at approximately $17,726,810.88. The trade was a 3.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP James Gantt sold 5,139 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the completion of the sale, the executive vice president directly owned 55,676 shares of the company’s stock, valued at $10,886,328.28. This represents a 8.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.84% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MANH. Weiss Ratings upgraded shares of Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 14th. DA Davidson lifted their price objective on Manhattan Associates from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Barclays upped their price objective on Manhattan Associates from $201.00 to $239.00 and gave the company an “overweight” rating in a research report on Tuesday. Wall Street Zen downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Morgan Stanley set a $180.00 target price on Manhattan Associates in a research report on Wednesday, July 29th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $217.20.

Manhattan Associates Profile

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.