Jupiter Topco LLC Acquires New Position in Manhattan Associates, Inc. $MANH

Jupiter Topco LLC bought a new position in Manhattan Associates, Inc. (NASDAQ:MANH) in the second quarter, Holdings Channel reports. The institutional investor bought 26,388 shares of the software maker’s stock, valued at approximately $3,677,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Hsbc Holdings PLC bought a new position in Manhattan Associates during the second quarter valued at approximately $4,410,000. Canada Pension Plan Investment Board bought a new stake in shares of Manhattan Associates in the 2nd quarter worth approximately $9,636,000. Legal & General Group Plc bought a new stake in shares of Manhattan Associates in the 2nd quarter worth approximately $12,309,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Manhattan Associates in the 2nd quarter valued at $5,596,000. Finally, Sone Capital Management LLC purchased a new stake in shares of Manhattan Associates in the 2nd quarter valued at $14,871,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MANH. DA Davidson lifted their target price on shares of Manhattan Associates from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Citigroup upped their price target on shares of Manhattan Associates from $177.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Robert W. Baird raised their price objective on Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday, August 26th. Wall Street Zen lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Barclays dropped their target price on Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating for the company in a report on Friday, May 29th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $213.40.

Manhattan Associates Trading Down 3.1%

MANH stock opened at $216.21 on Wednesday. The stock has a market capitalization of $12.61 billion, a price-to-earnings ratio of 61.95 and a beta of 0.95. The firm’s 50-day moving average price is $177.57 and its two-hundred day moving average price is $152.18. Manhattan Associates, Inc. has a 12-month low of $119.06 and a 12-month high of $227.03.

Manhattan Associates (NASDAQ:MANH) last posted its 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. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The company had revenue of $297.79 million for the quarter, compared to analysts’ expectations of $289.03 million. During the same period last year, the firm earned $1.31 earnings per share. Manhattan Associates’s quarterly revenue was up 9.3% on a year-over-year basis. Equities analysts predict that Manhattan Associates, Inc. will post 3.87 EPS for the current year.

Insider Activity at Manhattan Associates

In related 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 transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James Stewart Gantt sold 5,139 shares of the firm’s stock in a transaction 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 sale, the executive vice president directly owned 55,676 shares of the company’s stock, valued at $10,886,328.28. The trade was a 8.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,139 shares of company stock worth $1,744,879 over the last three months. Insiders own 0.84% of the company’s stock.

Manhattan Associates Company 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.