Manhattan Associates, Inc. $MANH Shares Bought by Fundsmith LLP

Fundsmith LLP raised its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 43.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 172,977 shares of the software maker’s stock after buying an additional 52,089 shares during the quarter. Fundsmith LLP owned approximately 0.30% of Manhattan Associates worth $24,087,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC grew its position in Manhattan Associates by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker’s stock worth $305,199,000 after buying an additional 88,005 shares during the period. MUFG Securities EMEA plc acquired a new position in Manhattan Associates in the 4th quarter valued at about $6,066,000. John G Ullman & Associates Inc. purchased a new stake in shares of Manhattan Associates during the fourth quarter worth about $2,106,000. William Blair Investment Management LLC purchased a new position in shares of Manhattan Associates during the second quarter valued at approximately $94,049,000. Finally, BlackRock Inc. purchased a new stake in Manhattan Associates in the 2nd quarter worth approximately $944,285,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Manhattan Associates

In related news, EVP James Stewart Gantt sold 5,139 shares of Manhattan Associates stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total value of $1,004,828.67. Following the transaction, the executive vice president owned 55,676 shares in the company, valued at $10,886,328.28. This trade represents a 8.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric Andrew Clark sold 3,000 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total value of $593,280.00. Following the completion of the transaction, the chief executive officer directly owned 89,638 shares in the company, valued at approximately $17,726,810.88. This represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 9,139 shares of company stock valued at $1,744,879. 0.84% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Morgan Stanley set a $180.00 price target on Manhattan Associates in a research note on Wednesday, July 29th. Wall Street Zen lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Stifel Nicolaus raised their target price on Manhattan Associates from $200.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Weiss Ratings raised shares of Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Finally, DA Davidson lifted their price target on shares of Manhattan Associates from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $213.40.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $223.28 on Monday. The company has a market cap of $13.02 billion, a P/E ratio of 63.98 and a beta of 0.93. Manhattan Associates, Inc. has a fifty-two week low of $119.06 and a fifty-two week high of $227.03. The firm’s 50 day simple moving average is $173.96 and its 200-day simple moving average is $151.15.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.07. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The firm had revenue of $297.79 million for the quarter, compared to the consensus estimate of $289.03 million. During the same period in the previous year, the firm posted $1.31 earnings per share. The firm’s revenue was up 9.3% on a year-over-year basis. On average, analysts expect that Manhattan Associates, Inc. will post 3.87 EPS for the current fiscal year.

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.