Destination Wealth Management Purchases Shares of 5,400 Manhattan Associates, Inc. $MANH

Destination Wealth Management purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,400 shares of the software maker’s stock, valued at approximately $936,000.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Manhattan Associates by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 6,957,028 shares of the software maker’s stock valued at $1,205,723,000 after acquiring an additional 136,708 shares during the period. Alliancebernstein L.P. lifted its holdings in Manhattan Associates by 22.7% in the third quarter. Alliancebernstein L.P. now owns 2,801,901 shares of the software maker’s stock valued at $574,334,000 after acquiring an additional 518,321 shares during the period. Morgan Stanley lifted its holdings in Manhattan Associates by 2.5% in the fourth quarter. Morgan Stanley now owns 2,178,422 shares of the software maker’s stock valued at $377,543,000 after acquiring an additional 53,037 shares during the period. AQR Capital Management LLC increased its position in shares of Manhattan Associates by 7.7% in the third quarter. AQR Capital Management LLC now owns 2,077,132 shares of the software maker’s stock valued at $425,771,000 after buying an additional 149,079 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Manhattan Associates by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker’s stock valued at $305,199,000 after buying an additional 88,005 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Price Performance

Shares of NASDAQ:MANH opened at $142.92 on Monday. Manhattan Associates, Inc. has a 1 year low of $119.06 and a 1 year high of $247.22. The firm has a market capitalization of $8.46 billion, a price-to-earnings ratio of 40.03 and a beta of 0.97. The business’s 50 day moving average price is $138.40 and its 200-day moving average price is $150.85.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, April 21st. The software maker reported $1.24 EPS for the quarter, topping the consensus estimate of $1.10 by $0.14. Manhattan Associates had a return on equity of 78.13% and a net margin of 19.68%.The firm had revenue of $282.22 million during the quarter, compared to analysts’ expectations of $273.71 million. During the same period in the previous year, the business earned $1.19 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. Manhattan Associates has set its FY 2026 guidance at 5.290-5.370 EPS. On average, sell-side analysts expect that Manhattan Associates, Inc. will post 3.68 earnings per share for the current year.

Manhattan Associates announced that its Board of Directors has approved a stock buyback program on Thursday, March 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the software maker to purchase up to 5.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity at Manhattan Associates

In related news, CEO Eric Andrew Clark sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $146.77, for a total transaction of $146,770.00. Following the completion of the sale, the chief executive officer directly owned 92,638 shares in the company, valued at approximately $13,596,479.26. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Stewart Gantt sold 7,300 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $139.25, for a total value of $1,016,525.00. Following the sale, the executive vice president owned 60,815 shares of the company’s stock, valued at $8,468,488.75. The trade was a 10.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.84% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Citigroup decreased their target price on Manhattan Associates from $208.00 to $177.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. William Blair reiterated an “outperform” rating on shares of Manhattan Associates in a research report on Thursday, March 5th. Barclays decreased their target price on Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a research report on Friday, May 29th. Wall Street Zen lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. Finally, Weiss Ratings lowered Manhattan Associates from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 27th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $199.45.

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.