Technology Sector Ideas

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Manhattan Associates, Inc. (NASDAQ:MANH) - >>> Number of Hedge Fund Holders: 26


https://www.insidermonkey.com/blog/12-high-growth-software-stocks-that-are-profitable-1122091/


Supply chain software company Manhattan Associates, Inc. (NASDAQ:MANH) shares have gained about 21% year to date in 2023 through February 16. Earlier this month Manhattan Associates, Inc. (NASDAQ:MANH) posted its fourth quarter results. Adjusted EPS in the quarter came in at $0.81, beating consensus estimates by $0.31. The software company’s revenue in the quarter increased by about 15.5% on a YoY basis to reach $198.1 million, beating estimates by $15.32 million. Adjusted operating income in the quarter totaled $59.9, much better than $39.1 million posted in the comparable quarter of 2021. Manhattan Associates, Inc. (NASDAQ:MANH)’s cash flow from operations in the period was $55.2 million, compared to $40.1 million for the fourth quarter of 2021.

At the end of the third quarter of 2022, 26 hedge funds tracked by Insider Monkey reported owning stakes in Manhattan Associates, Inc. (NASDAQ:MANH).

Brown Capital Management made the following comment about Manhattan Associates, Inc. (NASDAQ:MANH) in its Q3 2022 investor letter:

“Manhattan Associates, Inc. (NASDAQ:MANH) provides supply-chain-management software and services. For retailers, wholesalers, and manufacturers, the company’s products increase supply chain visibility to improve asset turnover, reduce costs and uncertainty on when goods will be delivered. The market for supply-chain software has risen steadily over recent years and Manhattan has been a beneficiary of this increased demand.

The company continues to generate strong revenue growth from its Cloud and Services offerings. During the second quarter, Cloud subscription revenue grew 48% year over year while Services revenue grew 19%. Existing and new customers are responding positively to the company’s new product launches. Additionally, increasing revenue from Cloud buyers against its historical investment in the cloud infrastructure is poised to expand the segment’s operating margins in the years to come. Manhattan should also benefit from other tailwinds, including supply-chain digitalization, an increased focus on fulfillment and Manhattan’s new omni-channel software offering. We met with Manhattan Associates’s management team in September. After discussing the company’s product development roadmap and its approach to solving customer challenges, we were convinced the company has many years of attractive growth remaining. Despite our enthusiasm, we did modestly reduce our position size in response to our internal risk controls on position sizing.”

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