M&G PLC Sells 68,054 Shares of Manhattan Associates, Inc. $MANH

M&G PLC trimmed its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 20.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 260,034 shares of the software maker’s stock after selling 68,054 shares during the quarter. M&G PLC’s holdings in Manhattan Associates were worth $51,227,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Swedbank AB boosted its holdings in shares of Manhattan Associates by 50.0% in the 2nd quarter. Swedbank AB now owns 1,199,969 shares of the software maker’s stock valued at $236,958,000 after buying an additional 399,969 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Manhattan Associates by 101.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,100,410 shares of the software maker’s stock valued at $190,415,000 after acquiring an additional 554,840 shares during the last quarter. Northern Trust Corp grew its position in shares of Manhattan Associates by 6.3% in the 1st quarter. Northern Trust Corp now owns 809,894 shares of the software maker’s stock valued at $140,144,000 after acquiring an additional 48,074 shares during the period. AQR Capital Management LLC increased its stake in shares of Manhattan Associates by 103.0% during the 1st quarter. AQR Capital Management LLC now owns 684,663 shares of the software maker’s stock worth $116,872,000 after purchasing an additional 347,358 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Manhattan Associates by 1,214.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 606,038 shares of the software maker’s stock valued at $104,869,000 after purchasing an additional 559,923 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

MANH opened at $175.13 on Wednesday. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60. The firm has a market cap of $10.55 billion, a P/E ratio of 49.89 and a beta of 1.08. The business’s fifty day moving average is $200.35 and its 200-day moving average is $199.94.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, October 21st. The software maker reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.18. The business had revenue of $275.80 million during the quarter, compared to analysts’ expectations of $271.66 million. Manhattan Associates had a net margin of 20.25% and a return on equity of 78.80%. Manhattan Associates’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.35 earnings per share. Manhattan Associates has set its FY 2025 guidance at 4.950-4.970 EPS. On average, research analysts predict that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on MANH shares. Morgan Stanley set a $200.00 price target on Manhattan Associates and gave the stock an “equal weight” rating in a report on Wednesday, October 22nd. Stifel Nicolaus reduced their target price on shares of Manhattan Associates from $250.00 to $240.00 and set a “buy” rating for the company in a report on Wednesday, October 22nd. Raymond James Financial reduced their price target on Manhattan Associates from $250.00 to $240.00 and set an “outperform” rating for the company in a research note on Wednesday, October 22nd. Barclays lowered their price objective on Manhattan Associates from $247.00 to $244.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Manhattan Associates in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $222.83.

Manhattan Associates Company 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.