Man Group plc Makes New Investment in Manhattan Associates, Inc. $MANH

Man Group plc acquired a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 56,081 shares of the software maker’s stock, valued at approximately $7,809,000.

A number of other large investors have also made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Manhattan Associates in the second quarter valued at about $944,285,000. Norges Bank acquired a new stake in Manhattan Associates during the fourth quarter worth about $124,264,000. William Blair Investment Management LLC acquired a new stake in Manhattan Associates during the second quarter worth about $94,049,000. T. Rowe Price Investment Management Inc. increased its stake in Manhattan Associates by 35.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker’s stock valued at $447,182,000 after acquiring an additional 671,589 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Manhattan Associates during the second quarter valued at about $54,011,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Down 0.2%

NASDAQ MANH opened at $223.28 on Friday. The stock has a market cap of $13.02 billion, a P/E ratio of 63.98 and a beta of 0.93. The company’s 50-day simple moving average is $173.96 and its 200 day simple moving average is $151.13. Manhattan Associates, Inc. has a twelve month low of $119.06 and a twelve month high of $227.03.

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

Insider Activity at Manhattan Associates

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 stock was sold at an average price of $197.76, for a total value of $593,280.00. Following the sale, the chief executive officer directly owned 89,638 shares in the company, valued at approximately $17,726,810.88. This represents a 3.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP James Stewart Gantt sold 5,139 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $195.53, for a total value of $1,004,828.67. Following the completion of the transaction, the executive vice president directly owned 55,676 shares of the company’s stock, valued at approximately $10,886,328.28. The trade was a 8.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 9,139 shares of company stock worth $1,744,879. Corporate insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

MANH has been the subject of several recent research reports. Citigroup raised their price objective on Manhattan Associates from $177.00 to $193.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Morgan Stanley set a $180.00 price objective on Manhattan Associates in a research report on Wednesday, July 29th. Robert W. Baird upped their target price on Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday. Weiss Ratings upgraded Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 14th. Finally, Wall Street Zen cut Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Manhattan Associates presently has an average rating of “Moderate Buy” and an average price target of $213.40.

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.