Manhattan Associates, Inc. $MANH Shares Sold by Plato Investment Management Ltd

Plato Investment Management Ltd decreased its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 2.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,923 shares of the software maker’s stock after selling 74 shares during the quarter. Plato Investment Management Ltd’s holdings in Manhattan Associates were worth $511,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in 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 during the period. Northern Trust Corp raised its holdings in Manhattan Associates by 6.3% in the 1st 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 period. AQR Capital Management LLC raised its holdings in Manhattan Associates by 103.0% in the 1st 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 period. Jacobs Levy Equity Management Inc. raised its holdings in shares of 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 valued at $104,869,000 after acquiring an additional 559,923 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Manhattan Associates by 10.1% during the first quarter. Bank of New York Mellon Corp now owns 591,794 shares of the software maker’s stock valued at $102,404,000 after acquiring an additional 54,273 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on MANH. Redburn Atlantic cut Manhattan Associates from a “buy” rating to a “neutral” rating and reduced their target price for the company from $270.00 to $200.00 in a report on Tuesday, June 10th. Morgan Stanley began coverage on Manhattan Associates in a report on Monday, July 14th. They set an “underweight” rating and a $190.00 target price for the company. Robert W. Baird increased their target price on Manhattan Associates from $212.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Raymond James Financial increased their target price on Manhattan Associates from $195.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, July 23rd. Finally, Citigroup reissued a “neutral” rating and set a $200.00 target price (up previously from $177.00) on shares of Manhattan Associates in a report on Wednesday, July 16th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $216.67.

Insider Buying and Selling

In related news, EVP James Stewart Gantt sold 2,300 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $220.33, for a total value of $506,759.00. Following the completion of the transaction, the executive vice president directly owned 48,660 shares in the company, valued at approximately $10,721,257.80. This represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $8,296,645.56. Following the completion of the transaction, 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. Over the last three months, insiders sold 41,666 shares of company stock worth $9,251,781. Company insiders own 0.88% of the company’s stock.

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $219.26 on Friday. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60. The stock has a market cap of $13.26 billion, a PE ratio of 61.25 and a beta of 1.13. The stock has a 50 day moving average price of $211.70 and a 200 day moving average price of $190.37.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly 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 firm had revenue of $272.42 million during the quarter, compared to analysts’ expectations of $263.62 million. During the same quarter last year, the firm earned $1.18 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. As a group, analysts predict that Manhattan Associates, Inc. will post 3.3 earnings per share 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.