Nykredit A S Takes Position in Manhattan Associates, Inc. $MANH

by · The Markets Daily

Nykredit A S acquired a new stake in Manhattan Associates, Inc. (NASDAQ:MANH – Free Report) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 2,519 shares of the software maker’s stock, valued at approximately $351,000.

A number of other large investors have also bought and sold shares of MANH. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Manhattan Associates by 72.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,245 shares of the software maker’s stock worth $2,124,000 after buying an additional 5,128 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Manhattan Associates by 9.1% during the first quarter. Goldman Sachs Group Inc. now owns 500,068 shares of the software maker’s stock worth $86,532,000 after acquiring an additional 41,571 shares during the period. Empowered Funds LLC bought a new stake in Manhattan Associates in the 1st quarter valued at $987,000. Focus Partners Wealth lifted its position in Manhattan Associates by 181.4% in the 1st quarter. Focus Partners Wealth now owns 2,400 shares of the software maker’s stock valued at $415,000 after acquiring an additional 1,547 shares in the last quarter. Finally, Sivia Capital Partners LLC acquired a new position in Manhattan Associates in the 2nd quarter worth $446,000. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Stock Down 0.9%

Shares of Manhattan Associates stock opened at $206.10 on Thursday. The stock has a market cap of $12.02 billion, a P/E ratio of 59.05 and a beta of 0.95. Manhattan Associates, Inc. has a 12-month low of $119.06 and a 12-month high of $227.03. The business’s 50 day moving average is $186.78 and its 200-day moving average is $155.24.

Manhattan Associates (NASDAQ:MANH – Get Free Report) last released its earnings results 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 net margin of 18.67% and a return on equity of 86.72%. The business had revenue of $297.79 million during the quarter, compared to analysts’ expectations of $289.03 million. During the same period last year, the business earned $1.31 earnings per share. The firm’s revenue was up 9.3% on a year-over-year basis. On average, sell-side analysts expect that Manhattan Associates, Inc. will post 3.87 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Citigroup upped 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. Wall Street Zen cut Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. DA Davidson upped their price target on Manhattan Associates from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Barclays raised their price target on shares of Manhattan Associates from $201.00 to $239.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Weiss Ratings raised shares of Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.20.

View Our Latest Report on MANH

Insider Transactions at Manhattan Associates

In other news, CEO Eric Clark sold 3,000 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total transaction of $593,280.00. Following the completion of the transaction, the chief executive officer directly owned 89,638 shares in the company, valued at approximately $17,726,810.88. The trade was a 3.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP James Gantt sold 5,139 shares of the stock in a transaction 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 completion of the sale, the executive vice president owned 55,676 shares in the company, valued at approximately $10,886,328.28. This trade represents a 8.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.84% of the company’s stock.

About Manhattan Associates

(Free Report)

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.

Further Reading

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