Fundsmith LLP Acquires 52,089 Shares of Manhattan Associates, Inc. $MANH

Fundsmith LLP increased its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 43.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 172,977 shares of the software maker’s stock after buying an additional 52,089 shares during the period. Fundsmith LLP’s holdings in Manhattan Associates were worth $24,087,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MANH. Geode Capital Management LLC grew its stake in shares of Manhattan Associates by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker’s stock valued at $305,199,000 after purchasing an additional 88,005 shares during the last quarter. MUFG Securities EMEA plc acquired a new position in Manhattan Associates during the 4th quarter worth $6,066,000. John G Ullman & Associates Inc. bought a new position in Manhattan Associates in the 4th quarter valued at $2,106,000. William Blair Investment Management LLC acquired a new stake in shares of Manhattan Associates in the 2nd quarter valued at $94,049,000. Finally, BlackRock Inc. acquired a new position in shares of Manhattan Associates during the second quarter valued at $944,285,000. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $223.28 on Monday. Manhattan Associates, Inc. has a 1 year low of $119.06 and a 1 year high of $227.03. The stock has a market cap of $13.02 billion, a price-to-earnings ratio of 63.98 and a beta of 0.93. The stock has a 50-day moving average price of $173.96 and a two-hundred day moving average price of $151.15.

Manhattan Associates (NASDAQ:MANH) last released 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 for the quarter, compared to analysts’ expectations of $289.03 million. During the same quarter in the previous year, the business posted $1.31 EPS. Manhattan Associates’s revenue for the quarter was up 9.3% on a year-over-year basis. Sell-side analysts forecast that Manhattan Associates, Inc. will post 3.87 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Barclays lowered their price target on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Robert W. Baird increased their price target on Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday. DA Davidson lifted their price objective on Manhattan Associates from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Finally, Morgan Stanley set a $180.00 target price on Manhattan Associates in a report on Wednesday, July 29th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus target price of $213.40.

Insider Buying and Selling

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

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.