Apollon Wealth Management LLC Decreases Holdings in Manhattan Associates, Inc. $MANH

Apollon Wealth Management LLC trimmed its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 3.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,534 shares of the software maker’s stock after selling 62 shares during the period. Apollon Wealth Management LLC’s holdings in Manhattan Associates were worth $303,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Jacobs Levy Equity Management Inc. grew its holdings in shares of Manhattan Associates by 1,214.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 606,038 shares of the software maker’s stock worth $104,869,000 after purchasing an additional 559,923 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Manhattan Associates by 101.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,100,410 shares of the software maker’s stock worth $190,415,000 after purchasing an additional 554,840 shares in the last quarter. Swedbank AB grew its stake in shares of Manhattan Associates by 116.8% during the first quarter. Swedbank AB now owns 800,000 shares of the software maker’s stock worth $138,432,000 after acquiring an additional 430,981 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Manhattan Associates by 103.0% in the 1st quarter. AQR Capital Management LLC now owns 684,663 shares of the software maker’s stock valued at $116,872,000 after acquiring an additional 347,358 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in shares of Manhattan Associates by 46,233.9% in the first quarter. Jones Financial Companies Lllp now owns 239,083 shares of the software maker’s stock valued at $41,371,000 after purchasing an additional 238,567 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Activity

In other news, Chairman Eddie Capel sold 37,342 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $222.18, for a total transaction of $8,296,645.56. Following the completion of the transaction, the chairman directly owned 162,988 shares of the company’s stock, valued at approximately $36,212,673.84. This represents a 18.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP James Stewart Gantt sold 2,300 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $220.33, for a total value of $506,759.00. Following the completion of the sale, the executive vice president directly owned 48,660 shares of the company’s stock, valued at $10,721,257.80. This represents a 4.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,666 shares of company stock valued at $9,251,781 over the last quarter. Corporate insiders own 0.88% of the company’s stock.

Manhattan Associates Trading Up 2.0%

NASDAQ:MANH opened at $196.83 on Friday. The firm has a market cap of $11.90 billion, a P/E ratio of 54.98 and a beta of 1.12. The stock’s 50 day simple moving average is $210.37 and its 200-day simple moving average is $196.52. Manhattan Associates, Inc. has a 12-month low of $140.81 and a 12-month high of $312.60.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.19. The firm had revenue of $272.42 million during the quarter, compared to the consensus estimate of $263.62 million. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%.The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the company earned $1.18 earnings per share. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. Research analysts forecast that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MANH has been the subject of a number of recent research reports. Robert W. Baird lifted their price objective on Manhattan Associates from $212.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Weiss Ratings restated a “hold (c)” rating on shares of Manhattan Associates in a report on Wednesday, October 8th. Stifel Nicolaus began coverage on Manhattan Associates in a research report on Tuesday, October 7th. They issued a “buy” rating and a $250.00 target price on the stock. Truist Financial raised their target price on Manhattan Associates from $210.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Finally, Zacks Research cut shares of Manhattan Associates from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $222.91.

Manhattan Associates 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.