Manhattan Associates, Inc. $MANH Stock Position Lessened by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC decreased its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 4.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 2,406 shares of the software maker’s stock after selling 114 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Manhattan Associates were worth $475,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. DAVENPORT & Co LLC bought a new position in shares of Manhattan Associates in the first quarter worth $214,000. Allianz Asset Management GmbH boosted its stake in Manhattan Associates by 18.9% during the first quarter. Allianz Asset Management GmbH now owns 143,687 shares of the software maker’s stock valued at $24,864,000 after buying an additional 22,845 shares in the last quarter. SG Americas Securities LLC boosted its stake in Manhattan Associates by 876.3% during the first quarter. SG Americas Securities LLC now owns 7,615 shares of the software maker’s stock valued at $1,318,000 after buying an additional 6,835 shares in the last quarter. IFM Investors Pty Ltd boosted its stake in Manhattan Associates by 11.0% during the first quarter. IFM Investors Pty Ltd now owns 13,201 shares of the software maker’s stock valued at $2,284,000 after buying an additional 1,303 shares in the last quarter. Finally, Bridges Investment Management Inc. boosted its stake in Manhattan Associates by 111.3% during the first quarter. Bridges Investment Management Inc. now owns 4,353 shares of the software maker’s stock valued at $753,000 after buying an additional 2,293 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Insiders Place Their Bets

In other Manhattan Associates news, Director Linda T. Hollembaek sold 2,024 shares of the firm’s stock in a transaction dated 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 directly owned 11,907 shares in the company, valued at approximately $2,637,757.71. This trade represents a 14.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Eddie Capel sold 37,342 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The stock was 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 $36,212,673.84. The trade was a 18.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,666 shares of company stock worth $9,251,781. 0.88% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MANH shares. Robert W. Baird raised their target price on Manhattan Associates from $212.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Citigroup reaffirmed a “neutral” rating and set a $200.00 target price (up previously from $177.00) on shares of Manhattan Associates in a research note on Wednesday, July 16th. Truist Financial raised their target price on Manhattan Associates from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Barclays started coverage on Manhattan Associates in a research note on Tuesday. They set an “overweight” rating and a $247.00 target price for the company. Finally, Zacks Research cut Manhattan Associates from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $222.45.

Manhattan Associates Stock Down 3.0%

Shares of NASDAQ MANH opened at $197.32 on Friday. Manhattan Associates, Inc. has a 12 month low of $140.81 and a 12 month high of $312.60. The company has a market cap of $11.93 billion, a price-to-earnings ratio of 55.12 and a beta of 1.12. The business has a fifty day simple moving average of $211.90 and a 200-day simple moving average of $195.72.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, July 22nd. The software maker reported $1.31 EPS for the quarter, beating the consensus estimate of $1.12 by $0.19. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%.The business had revenue of $272.42 million during the quarter, compared to the consensus estimate of $263.62 million. During the same period in the prior year, the business posted $1.18 earnings per share. Manhattan Associates’s revenue was up 2.7% compared to the same quarter last year. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. As a group, sell-side analysts expect that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.

Manhattan Associates Company Profile

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.