OceanIQ Capital LLC Acquires New Holdings in Manhattan Associates, Inc. $MANH

OceanIQ Capital LLC bought a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,026 shares of the software maker’s stock, valued at approximately $421,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its position in shares of Manhattan Associates by 448.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker’s stock worth $28,000 after buying an additional 112 shares during the period. Versant Capital Management Inc increased its position in Manhattan Associates by 508.9% in the 2nd quarter. Versant Capital Management Inc now owns 274 shares of the software maker’s stock valued at $38,000 after acquiring an additional 229 shares during the period. BNP Paribas acquired a new stake in Manhattan Associates in the 4th quarter valued at approximately $39,000. TD Private Client Wealth LLC raised its stake in Manhattan Associates by 83.8% during the 4th quarter. TD Private Client Wealth LLC now owns 239 shares of the software maker’s stock valued at $41,000 after acquiring an additional 109 shares in the last quarter. Finally, Leonteq Securities AG acquired a new position in Manhattan Associates during the 4th quarter worth $44,000. Institutional investors own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MANH. Barclays decreased their price target on Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating for the company in a research note on Friday, May 29th. DA Davidson upped their price objective on shares of Manhattan Associates from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Citigroup increased their target price on shares of Manhattan Associates from $177.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Robert W. Baird raised their target price on shares of Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday, August 26th. Finally, Wall Street Zen downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $213.40.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $213.77 on Friday. Manhattan Associates, Inc. has a 1 year low of $119.06 and a 1 year high of $227.03. The business’s fifty day moving average is $182.70 and its 200-day moving average is $153.74. The stock has a market cap of $12.46 billion, a PE ratio of 61.25 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.07. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The business had revenue of $297.79 million during the quarter, compared to analyst estimates of $289.03 million. During the same quarter in the prior year, the firm posted $1.31 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. Equities research analysts predict that Manhattan Associates, Inc. will post 3.87 earnings per share for the current year.

Insider Transactions at Manhattan Associates

In related news, EVP James Gantt sold 5,139 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total value of $1,004,828.67. Following the sale, the executive vice president directly owned 55,676 shares in the company, valued at $10,886,328.28. The trade was a 8.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric Clark sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total transaction of $593,280.00. Following the sale, the chief executive officer directly owned 89,638 shares of the company’s stock, valued at approximately $17,726,810.88. This represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,139 shares of company stock valued at $1,744,879 over the last three months. 0.84% of the stock is owned by corporate insiders.

Manhattan Associates Profile

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.