Pallas Capital Advisors LLC Invests $401,000 in Manhattan Associates, Inc. $MANH

Pallas Capital Advisors LLC acquired a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,880 shares of the software maker’s stock, valued at approximately $401,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in Manhattan Associates in the fourth quarter worth about $124,264,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Manhattan Associates by 35.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker’s stock worth $447,182,000 after buying an additional 671,589 shares during the period. Bank of New York Mellon Corp bought a new position in Manhattan Associates during the 2nd quarter worth about $54,011,000. Amundi boosted its stake in shares of Manhattan Associates by 479.4% during the first quarter. Amundi now owns 454,095 shares of the software maker’s stock valued at $60,449,000 after purchasing an additional 375,719 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in Manhattan Associates by 76.4% during the 3rd quarter. Lazard Asset Management LLC now owns 707,742 shares of the software maker’s stock valued at $145,073,000 after acquiring an additional 306,516 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

MANH has been the subject of a number of recent research reports. Barclays reduced their target price on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating for the company in a report on Friday, May 29th. Robert W. Baird raised their price target on shares of Manhattan Associates from $186.00 to $218.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Stifel Nicolaus lifted their price objective on shares of Manhattan Associates from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Weiss Ratings raised Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Finally, 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 note on Tuesday, July 21st. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $209.20.

Manhattan Associates Price Performance

NASDAQ:MANH opened at $211.21 on Friday. The firm has a market capitalization of $12.32 billion, a P/E ratio of 60.52 and a beta of 0.93. Manhattan Associates, Inc. has a 1-year low of $119.06 and a 1-year high of $220.31. The company’s fifty day moving average price is $164.34 and its 200-day moving average price is $148.00.

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, beating analysts’ consensus estimates of $1.32 by $0.07. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The company had revenue of $297.79 million during the quarter, compared to the consensus estimate of $289.03 million. During the same period in the previous year, the firm posted $1.31 earnings per share. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. Equities analysts anticipate that Manhattan Associates, Inc. will post 3.87 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Eric Andrew Clark sold 3,000 shares of the firm’s 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 sale, the chief executive officer owned 89,638 shares of the company’s stock, valued at $17,726,810.88. This trade represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James Stewart Gantt sold 5,139 shares of Manhattan Associates stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the transaction, the executive vice president directly owned 55,676 shares of the company’s stock, valued at approximately $10,886,328.28. This trade represents a 8.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 9,139 shares of company stock worth $1,744,879 in the last ninety days. Corporate 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.