Nordea Investment Management AB Cuts Stock Holdings in Manhattan Associates, Inc. $MANH

Nordea Investment Management AB decreased its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 0.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 130,300 shares of the software maker’s stock after selling 1,020 shares during the period. Nordea Investment Management AB’s holdings in Manhattan Associates were worth $25,599,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MANH. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Manhattan Associates by 117.0% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 230 shares of the software maker’s stock valued at $45,000 after buying an additional 124 shares during the last quarter. Brooklyn Investment Group boosted its position in shares of Manhattan Associates by 70.1% during the first quarter. Brooklyn Investment Group now owns 359 shares of the software maker’s stock valued at $62,000 after buying an additional 148 shares during the last quarter. Reyes Financial Architecture Inc. boosted its position in shares of Manhattan Associates by 42.5% during the first quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker’s stock valued at $82,000 after buying an additional 142 shares during the last quarter. Bayforest Capital Ltd boosted its position in shares of Manhattan Associates by 126.6% during the first quarter. Bayforest Capital Ltd now owns 494 shares of the software maker’s stock valued at $85,000 after buying an additional 276 shares during the last quarter. Finally, Virtus Advisers LLC purchased a new position in shares of Manhattan Associates during the first quarter valued at approximately $99,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Price Performance

Shares of MANH opened at $196.83 on Friday. The firm has a market cap of $11.90 billion, a PE ratio of 54.98 and a beta of 1.12. The stock’s fifty day moving average price is $210.37 and its two-hundred day moving average price is $196.52. Manhattan Associates, Inc. has a 1 year low of $140.81 and a 1 year high of $312.60.

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

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, Chairman Eddie Capel sold 37,342 shares of the business’s stock in a transaction on 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 directly owned 162,988 shares in the company, valued at $36,212,673.84. The trade was a 18.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP James Stewart Gantt sold 2,300 shares of the business’s stock in a transaction 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 owned 48,660 shares in the company, valued at approximately $10,721,257.80. The trade was 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 worth $9,251,781 over the last ninety days. 0.88% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Manhattan Associates in a research report on Wednesday, October 8th. DA Davidson lifted their price target on Manhattan Associates from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Morgan Stanley dropped their price target on Manhattan Associates from $205.00 to $195.00 and set an “underweight” rating on the stock in a report on Tuesday. Robert W. Baird lifted their price target on Manhattan Associates from $212.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Finally, Stifel Nicolaus initiated coverage on Manhattan Associates in a report on Tuesday, October 7th. They set a “buy” rating and a $250.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Manhattan Associates currently has a consensus 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.