Sone Capital Management LLC Invests $14.87 Million in Manhattan Associates, Inc. $MANH

Sone Capital Management LLC purchased a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 106,792 shares of the software maker’s stock, valued at approximately $14,871,000. Sone Capital Management LLC owned approximately 0.18% of Manhattan Associates at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd raised its holdings in Manhattan Associates by 448.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker’s stock valued at $28,000 after acquiring an additional 112 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Manhattan Associates by 508.9% in the second quarter. Versant Capital Management Inc now owns 274 shares of the software maker’s stock worth $38,000 after acquiring an additional 229 shares during the period. BNP Paribas bought a new position in shares of Manhattan Associates in the fourth quarter worth $39,000. TD Private Client Wealth LLC grew its position in shares of Manhattan Associates by 83.8% in the fourth quarter. TD Private Client Wealth LLC now owns 239 shares of the software maker’s stock valued at $41,000 after purchasing an additional 109 shares in the last quarter. Finally, Leonteq Securities AG purchased a new position in shares of Manhattan Associates in the fourth quarter valued at $44,000. 98.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MANH has been the topic of a number of recent research reports. Citigroup increased their price objective on Manhattan Associates from $177.00 to $193.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Weiss Ratings raised Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Morgan Stanley set a $180.00 price target on Manhattan Associates in a research report on Wednesday, July 29th. Barclays lowered their price target on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Finally, Wall Street Zen cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and an average price target of $209.20.

Manhattan Associates Trading Down 0.6%

Shares of Manhattan Associates stock opened at $213.18 on Tuesday. The firm has a market capitalization of $12.43 billion, a PE ratio of 61.08 and a beta of 0.93. Manhattan Associates, Inc. has a 12 month low of $119.06 and a 12 month high of $220.31. The business’s 50-day moving average price is $167.16 and its 200-day moving average price is $149.00.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $289.03 million. During the same quarter in the previous year, the company posted $1.31 EPS. Manhattan Associates’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, analysts predict that Manhattan Associates, Inc. will post 3.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Eric Andrew Clark sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total value of $593,280.00. Following the completion of the sale, the chief executive officer owned 89,638 shares of the company’s stock, valued at approximately $17,726,810.88. This represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Stewart Gantt sold 5,139 shares of the stock in a transaction 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 in the company, valued at approximately $10,886,328.28. This represents a 8.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,139 shares of company stock valued at $1,744,879 in the last ninety days. 0.84% of the stock is owned by corporate insiders.

Manhattan Associates 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.