Manhattan Associates, Inc. $MANH Shares Acquired by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. grew its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 243.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 5,768 shares of the software maker’s stock after buying an additional 4,091 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Manhattan Associates were worth $1,139,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Swedbank AB lifted its holdings in shares of Manhattan Associates by 50.0% in the 2nd quarter. Swedbank AB now owns 1,199,969 shares of the software maker’s stock valued at $236,958,000 after buying an additional 399,969 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Manhattan Associates by 101.7% during the first 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 during the last quarter. Northern Trust Corp raised its holdings in Manhattan Associates by 6.3% during the first quarter. Northern Trust Corp now owns 809,894 shares of the software maker’s stock worth $140,144,000 after purchasing an additional 48,074 shares during the last quarter. AQR Capital Management LLC raised its holdings in Manhattan Associates by 103.0% during the first quarter. AQR Capital Management LLC now owns 684,663 shares of the software maker’s stock worth $116,872,000 after purchasing an additional 347,358 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Manhattan Associates by 1,214.2% during 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. 98.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. DA Davidson set a $250.00 price objective on Manhattan Associates in a report on Wednesday. Truist Financial set a $230.00 price objective on Manhattan Associates in a report on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Manhattan Associates in a report on Wednesday, October 8th. Morgan Stanley set a $200.00 price objective on Manhattan Associates and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Robert W. Baird lifted their price objective on Manhattan Associates from $212.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $222.83.

Insiders Place Their Bets

In other news, Director Linda T. Hollembaek sold 2,024 shares of Manhattan Associates stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $221.53, for a total value of $448,376.72. Following the completion of the sale, the director owned 11,907 shares of the company’s stock, valued at $2,637,757.71. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Eddie Capel sold 37,342 shares of Manhattan Associates stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $222.18, for a total value of $8,296,645.56. Following the completion of the sale, 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 disclosure for this sale can be found here. 0.88% of the stock is owned by insiders.

Manhattan Associates Stock Up 0.1%

NASDAQ MANH opened at $194.85 on Friday. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60. The stock has a market cap of $11.78 billion, a price-to-earnings ratio of 55.51 and a beta of 1.12. The business has a fifty day moving average of $208.78 and a 200-day moving average of $197.82.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, October 21st. The software maker reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.18. Manhattan Associates had a return on equity of 78.80% and a net margin of 20.25%.The company had revenue of $275.80 million during the quarter, compared to analysts’ expectations of $271.66 million. During the same period in the previous year, the firm posted $1.35 earnings per share. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. Manhattan Associates has set its FY 2025 guidance at 4.950-4.970 EPS. As a group, analysts anticipate that Manhattan Associates, Inc. will post 3.3 EPS for the current 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.