Hsbc Holdings PLC Acquires New Holdings in Manhattan Associates, Inc. $MANH

Hsbc Holdings PLC bought a new position in Manhattan Associates, Inc. (NASDAQ:MANH) in the 2nd quarter, HoldingsChannel reports. The fund bought 31,653 shares of the software maker’s stock, valued at approximately $4,410,000.

Other large investors also recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new stake in shares of Manhattan Associates during the second quarter valued at approximately $9,636,000. Legal & General Group Plc bought a new position in Manhattan Associates in the 2nd quarter worth approximately $12,309,000. The Manufacturers Life Insurance Company acquired a new stake in Manhattan Associates in the 2nd quarter valued at approximately $5,596,000. Sone Capital Management LLC acquired a new stake in Manhattan Associates in the 2nd quarter valued at approximately $14,871,000. Finally, L2 Asset Management LLC bought a new stake in Manhattan Associates during the 2nd quarter valued at $1,379,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

MANH has been the subject of a number of analyst reports. Robert W. Baird boosted their price target on Manhattan Associates from $218.00 to $260.00 and gave the stock an “outperform” rating in a research report on Wednesday. DA Davidson lifted their price objective on shares of Manhattan Associates from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Barclays cut their price objective on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Citigroup boosted their price target on shares of Manhattan Associates from $177.00 to $193.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Finally, Morgan Stanley set a $180.00 price objective on shares of Manhattan Associates in a report on Wednesday, July 29th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and an average target price of $213.40.

Manhattan Associates Stock Down 0.2%

Shares of Manhattan Associates stock opened at $223.28 on Friday. The business has a fifty day simple moving average of $173.96 and a 200-day simple moving average of $151.13. Manhattan Associates, Inc. has a fifty-two week low of $119.06 and a fifty-two week high of $227.03. The firm has a market cap of $13.02 billion, a price-to-earnings ratio of 63.98 and a beta of 0.93.

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

Insider Activity

In related news, CEO Eric Andrew 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 completion of the sale, the chief executive officer directly owned 89,638 shares of the company’s stock, valued at $17,726,810.88. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Stewart Gantt sold 5,139 shares of the firm’s stock in a transaction that occurred 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 owned 55,676 shares of the company’s stock, valued at $10,886,328.28. The trade was a 8.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 9,139 shares of company stock valued at $1,744,879. Insiders own 0.84% of the company’s stock.

About Manhattan Associates

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.