JPMorgan Chase & Co. Sells 21,487 Shares of Manhattan Associates, Inc. $MANH

JPMorgan Chase & Co. trimmed its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 7.8% during the 3rd quarter, Holdings Channel reports. The fund owned 254,062 shares of the software maker’s stock after selling 21,487 shares during the period. JPMorgan Chase & Co.’s holdings in Manhattan Associates were worth $52,078,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. AQR Capital Management LLC raised its holdings in shares of Manhattan Associates by 181.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,928,053 shares of the software maker’s stock valued at $380,733,000 after purchasing an additional 1,243,390 shares in the last quarter. Norges Bank bought a new position in shares of Manhattan Associates during the second quarter valued at approximately $162,545,000. Alliancebernstein L.P. increased its holdings in Manhattan Associates by 22.7% during the third quarter. Alliancebernstein L.P. now owns 2,801,901 shares of the software maker’s stock valued at $574,334,000 after buying an additional 518,321 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in Manhattan Associates by 88.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 667,728 shares of the software maker’s stock valued at $136,871,000 after buying an additional 314,112 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in Manhattan Associates by 86.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 676,034 shares of the software maker’s stock worth $138,573,000 after buying an additional 312,858 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Citigroup upgraded Manhattan Associates from a “neutral” rating to a “buy” rating and upped their target price for the stock from $200.00 to $208.00 in a report on Thursday, January 15th. Barclays reduced their price target on Manhattan Associates from $237.00 to $236.00 and set an “overweight” rating for the company in a research report on Monday, March 16th. DA Davidson dropped their price objective on Manhattan Associates from $250.00 to $240.00 and set a “buy” rating on the stock in a research report on Wednesday, January 28th. Morgan Stanley cut their target price on Manhattan Associates from $200.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Monday, January 5th. Finally, Wall Street Zen upgraded shares of Manhattan Associates from a “hold” rating to a “buy” rating in a report on Saturday. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.36.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $137.32 on Friday. Manhattan Associates, Inc. has a fifty-two week low of $127.86 and a fifty-two week high of $247.22. The firm has a market capitalization of $8.22 billion, a PE ratio of 38.14 and a beta of 1.05. The stock’s 50-day simple moving average is $149.96 and its 200-day simple moving average is $175.16.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, January 27th. The software maker reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.10. The firm had revenue of $270.39 million during the quarter, compared to the consensus estimate of $264.69 million. Manhattan Associates had a return on equity of 75.61% and a net margin of 20.34%.The company’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 earnings per share. Manhattan Associates has set its FY 2026 guidance at 5.040-5.200 EPS. Sell-side analysts forecast that Manhattan Associates, Inc. will post 3.3 earnings per share for the current year.

Manhattan Associates announced that its board has approved a stock repurchase plan on Thursday, March 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the software maker to purchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

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.