Quantbot Technologies LP Invests $7.15 Million in Manhattan Associates, Inc. $MANH

Quantbot Technologies LP purchased a new position in Manhattan Associates, Inc. (NASDAQ:MANH) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 41,322 shares of the software maker’s stock, valued at approximately $7,150,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Korea Investment CORP lifted its stake in shares of Manhattan Associates by 65.2% in the first quarter. Korea Investment CORP now owns 42,757 shares of the software maker’s stock worth $7,399,000 after buying an additional 16,879 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Manhattan Associates by 6.3% in the first quarter. Northern Trust Corp now owns 809,894 shares of the software maker’s stock valued at $140,144,000 after purchasing an additional 48,074 shares during the period. Brooklyn Investment Group grew its holdings in shares of Manhattan Associates by 70.1% in the first quarter. Brooklyn Investment Group now owns 359 shares of the software maker’s stock valued at $62,000 after purchasing an additional 148 shares during the period. Versor Investments LP purchased a new stake in shares of Manhattan Associates in the first quarter valued at about $439,000. Finally, Algert Global LLC grew its holdings in shares of Manhattan Associates by 5,622.8% in the first quarter. Algert Global LLC now owns 52,535 shares of the software maker’s stock valued at $9,091,000 after purchasing an additional 51,617 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Price Performance

Shares of MANH opened at $214.79 on Monday. 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 $12.99 billion, a PE ratio of 60.00 and a beta of 1.10. The firm has a 50-day simple moving average of $203.51 and a two-hundred day simple moving average of $187.08.

Manhattan Associates (NASDAQ:MANH) last announced 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 net margin of 20.91% and a return on equity of 82.91%. The business had revenue of $272.42 million during the quarter, compared to analysts’ expectations of $263.62 million. During the same period last year, the business earned $1.18 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, sell-side analysts expect that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP James Stewart Gantt sold 2,300 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $220.33, for a total value of $506,759.00. Following the completion of the transaction, the executive vice president owned 48,660 shares of the company’s stock, valued at approximately $10,721,257.80. This trade represents a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Linda T. Hollembaek sold 2,024 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total transaction of $448,376.72. Following the completion of the transaction, the director directly owned 11,907 shares of the company’s stock, valued at approximately $2,637,757.71. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,666 shares of company stock valued at $9,251,781. 0.88% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Truist Financial upped their price objective on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Morgan Stanley assumed coverage on shares of Manhattan Associates in a report on Monday, July 14th. They issued an “underweight” rating and a $190.00 price objective for the company. Robert W. Baird upped their price objective on shares of Manhattan Associates from $212.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Raymond James Financial upped their price objective on shares of Manhattan Associates from $195.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, July 23rd. Finally, DA Davidson upped their price objective on shares of Manhattan Associates from $225.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $216.67.

Manhattan Associates Profile

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.