SG Americas Securities LLC has significantly increased its investment in Manhattan Associates, Inc. by a remarkable 87% during the third quarter of 2023. According to its recent Form 13F filing with the Securities and Exchange Commission (SEC), the firm now holds 10,422 shares of the software company, having acquired an additional 4,849 shares during this period. As of the latest reporting, SG Americas Securities’ holdings in Manhattan Associates are valued at approximately $2,136,000.
Other institutional investors have also made adjustments to their positions in Manhattan Associates. Capital Fund Management S.A. increased its stake by 45.4% in the second quarter, now owning 127,059 shares valued at $25,090,000 after purchasing 39,699 shares. Similarly, the VIRGINIA RETIREMENT SYSTEMS raised its share count by 4.7% during the third quarter, bringing its total to 143,600 shares worth $29,435,000 after acquiring 6,500 shares.
Additionally, Caxton Associates LLP made a new investment in the second quarter valued at about $3,339,000. Abacus FCF Advisors LLC grew its holding by 33.0% in the third quarter and now owns 44,475 shares worth $9,116,000 after buying 11,043 shares. Lastly, Cerity Partners LLC increased its stake by 11.8%, holding 99,820 shares valued at $20,461,000 after an additional purchase of 10,526 shares. Currently, institutional investors hold approximately 98.45% of Manhattan Associates’ stock.
Current Market Performance and Analyst Ratings
On Thursday, shares of Manhattan Associates opened at $173.48. The company has experienced a 12-month low of $140.81 and a high of $299.27. With a market capitalization of $10.45 billion, the firm currently has a P/E ratio of 49.42 and a beta of 1.02. The 50-day moving average price rests at $174.52, while the 200-day moving average price stands at $195.24.
Recent analyst reports reflect varied sentiments regarding the stock. Citigroup has reduced its price target from $204.00 to $200.00, assigning a “neutral” rating. In a similar vein, Zacks Research downgraded the stock from a “strong-buy” to a “hold” rating. Barclays also adjusted its target price from $239.00 to $237.00 while maintaining an “overweight” rating.
Moreover, Morgan Stanley decreased its target from $200.00 to $165.00, assigning an “equal weight” rating. In contrast, DA Davidson set a more optimistic price objective of $250.00. Overall, one investment analyst rates the stock as a Strong Buy, while seven analysts recommend a Buy and six suggest holding. According to data from MarketBeat.com, Manhattan Associates holds a consensus rating of “Moderate Buy” with a target price forecast of $220.17.
Company Overview
Manhattan Associates, Inc. (NASDAQ: MANH) specializes in supply chain and omnichannel commerce software solutions aimed at optimizing the flow of goods, information, and funds within enterprise operations. The company’s core products include warehouse management, transportation management, order management, and omnichannel fulfillment applications.
These solutions are delivered through the cloud-native platform, Manhattan Active, which enables retailers, manufacturers, carriers, and third-party logistics providers to coordinate inventory, manage distribution, and enhance customer service in real-time. Key product offerings include Manhattan Active Warehouse Management, which streamlines warehouse operations from receiving to shipping; Manhattan Active Transportation Management, which aids in carrier selection, routing, and freight payment; and Manhattan Active Omni, which integrates order capture, inventory visibility, and fulfillment across various channels.
As Manhattan Associates continues to expand its market reach, the increased institutional investment reflects growing confidence in its strategic direction and financial performance.
