Quantbot Technologies LP Buys New Stake in Manhattan Associates, Inc. $MANH

Quantbot Technologies LP purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 11,476 shares of the software maker’s stock, valued at approximately $1,598,000.

A number of other institutional investors have also modified their holdings of the stock. Evolve Private Wealth LLC purchased a new position in Manhattan Associates during the second quarter valued at approximately $312,000. William Blair Investment Management LLC purchased a new stake in Manhattan Associates in the 2nd quarter worth approximately $94,049,000. Landscape Capital Management L.L.C. purchased a new stake in Manhattan Associates in the 2nd quarter worth approximately $972,000. Ieq Capital LLC acquired a new stake in shares of Manhattan Associates during the 2nd quarter worth approximately $5,954,000. Finally, Callan Family Office LLC acquired a new stake in shares of Manhattan Associates during the 2nd quarter worth approximately $2,919,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MANH shares. Morgan Stanley set a $180.00 price target on shares of Manhattan Associates in a report on Wednesday, July 29th. Citigroup upped their price objective on shares of Manhattan Associates from $177.00 to $193.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Weiss Ratings raised shares of Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 14th. Robert W. Baird increased their target price on shares of Manhattan Associates from $186.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Finally, DA Davidson lifted their price target on Manhattan Associates from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Manhattan Associates currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.20.

Insider Buying and Selling

In related 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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the transaction, the chief executive officer owned 89,638 shares in the company, valued at $17,726,810.88. The trade was a 3.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,139 shares of company stock valued at $1,744,879 in the last three months. Insiders own 0.84% of the company’s stock.

Manhattan Associates Stock Down 0.6%

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

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.07. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The firm had revenue of $297.79 million for the quarter, compared to analyst estimates of $289.03 million. During the same period last year, the company posted $1.31 EPS. Manhattan Associates’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, analysts expect that Manhattan Associates, Inc. will post 3.87 earnings per share for the current year.

Manhattan Associates Company 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.