Verdence Capital Advisors LLC Has $427,000 Position in Manhattan Associates, Inc. $MANH

Verdence Capital Advisors LLC grew its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 7.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,164 shares of the software maker’s stock after purchasing an additional 150 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Manhattan Associates were worth $427,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of MANH. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Manhattan Associates by 117.0% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 230 shares of the software maker’s stock worth $45,000 after purchasing an additional 124 shares in the last quarter. Brooklyn Investment Group boosted its stake in Manhattan Associates by 70.1% in the first quarter. Brooklyn Investment Group now owns 359 shares of the software maker’s stock worth $62,000 after purchasing an additional 148 shares in the last quarter. Reyes Financial Architecture Inc. boosted its stake in Manhattan Associates by 42.5% in the first quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker’s stock worth $82,000 after purchasing an additional 142 shares in the last quarter. Bayforest Capital Ltd boosted its stake in Manhattan Associates by 126.6% in the first quarter. Bayforest Capital Ltd now owns 494 shares of the software maker’s stock worth $85,000 after purchasing an additional 276 shares in the last quarter. Finally, Virtus Advisers LLC acquired a new position in Manhattan Associates in the first quarter worth $99,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Activity at Manhattan Associates

In related news, EVP James Stewart Gantt sold 2,300 shares of the company’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $220.33, for a total value of $506,759.00. Following the completion of the sale, the executive vice president owned 48,660 shares in the company, valued at approximately $10,721,257.80. This represents a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Eddie Capel sold 37,342 shares of the company’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $222.18, for a total value of $8,296,645.56. Following the completion of the sale, the chairman owned 162,988 shares of the company’s stock, valued at $36,212,673.84. This represents a 18.64% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,666 shares of company stock worth $9,251,781. 0.88% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. DA Davidson upped their price target on Manhattan Associates from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Morgan Stanley cut their price target on Manhattan Associates from $205.00 to $195.00 and set an “underweight” rating on the stock in a research note on Tuesday. Barclays assumed coverage on Manhattan Associates in a research note on Tuesday, October 7th. They set an “overweight” rating and a $247.00 price target on the stock. Robert W. Baird upped their price target on Manhattan Associates from $212.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Finally, Citigroup reaffirmed a “neutral” rating and set a $200.00 price target (up previously from $177.00) on shares of Manhattan Associates in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Manhattan Associates presently has a consensus rating of “Moderate Buy” and an average price target of $222.91.

Manhattan Associates Trading Down 0.4%

NASDAQ MANH opened at $199.81 on Thursday. The stock has a 50-day simple moving average of $210.91 and a 200 day simple moving average of $196.11. The company has a market capitalization of $12.08 billion, a PE ratio of 55.81 and a beta of 1.12. Manhattan Associates, Inc. has a 12 month low of $140.81 and a 12 month high of $312.60.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.19. The business had revenue of $272.42 million during the quarter, compared to the consensus estimate of $263.62 million. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%.The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.18 earnings per share. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. As a group, sell-side analysts predict that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

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.