Plato Investment Management Ltd Lowers Holdings in Manhattan Associates, Inc. $MANH

Plato Investment Management Ltd trimmed its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 2.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 2,923 shares of the software maker’s stock after selling 74 shares during the period. Plato Investment Management Ltd’s holdings in Manhattan Associates were worth $511,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of MANH. Cetera Investment Advisers boosted its position in shares of Manhattan Associates by 38.6% during the fourth quarter. Cetera Investment Advisers now owns 5,902 shares of the software maker’s stock worth $1,595,000 after buying an additional 1,645 shares during the period. Ethic Inc. boosted its position in shares of Manhattan Associates by 7.0% during the fourth quarter. Ethic Inc. now owns 2,889 shares of the software maker’s stock worth $781,000 after buying an additional 190 shares during the period. Focus Partners Wealth purchased a new position in shares of Manhattan Associates during the fourth quarter worth $252,000. Janus Henderson Group PLC boosted its position in shares of Manhattan Associates by 20.5% during the fourth quarter. Janus Henderson Group PLC now owns 3,327 shares of the software maker’s stock worth $899,000 after buying an additional 565 shares during the period. Finally, Nuveen Asset Management LLC boosted its position in shares of Manhattan Associates by 2.9% during the fourth quarter. Nuveen Asset Management LLC now owns 231,901 shares of the software maker’s stock worth $62,669,000 after buying an additional 6,622 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $219.26 on Friday. Manhattan Associates, Inc. has a 1-year low of $140.81 and a 1-year high of $312.60. The stock has a market cap of $13.26 billion, a PE ratio of 61.25 and a beta of 1.13. The stock’s fifty day moving average is $211.70 and its two-hundred day moving average is $190.37.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.19. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%.The company had revenue of $272.42 million for the quarter, compared to analysts’ expectations of $263.62 million. During the same period last year, the firm earned $1.18 earnings per share. Manhattan Associates’s quarterly revenue was up 2.7% on a year-over-year basis. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. On average, research analysts expect that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Manhattan Associates

In other news, Chairman Eddie Capel sold 37,342 shares of Manhattan Associates stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $222.18, for a total transaction of $8,296,645.56. Following the sale, the chairman owned 162,988 shares in the company, valued at approximately $36,212,673.84. The trade was a 18.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Linda T. Hollembaek sold 2,024 shares of Manhattan Associates stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $221.53, for a total value of $448,376.72. Following the sale, the director owned 11,907 shares in the company, valued at $2,637,757.71. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,666 shares of company stock worth $9,251,781 over the last ninety days. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MANH shares. Morgan Stanley started coverage on Manhattan Associates in a research report on Monday, July 14th. They set an “underweight” rating and a $190.00 price target for the company. Robert W. Baird raised their price target on Manhattan Associates from $212.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 16th. Redburn Atlantic lowered Manhattan Associates from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $270.00 to $200.00 in a research report on Tuesday, June 10th. Loop Capital increased their price objective on Manhattan Associates from $170.00 to $200.00 and gave the company a “hold” rating in a research note on Tuesday, July 22nd. Finally, Raymond James Financial increased their price objective on Manhattan Associates from $195.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, July 23rd. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Manhattan Associates currently has a consensus rating of “Moderate Buy” and a consensus price target of $216.67.

About Manhattan Associates

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.