State of Wyoming purchased a new position in Manhattan Associates, Inc. (NASDAQ:MANH – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,550 shares of the software maker’s stock, valued at approximately $494,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of 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 valued at $305,199,000 after buying an additional 88,005 shares during the period. MUFG Securities EMEA plc purchased a new stake in Manhattan Associates in the 4th quarter worth approximately $6,066,000. John G Ullman & Associates Inc. purchased a new stake in Manhattan Associates in the 4th quarter worth approximately $2,106,000. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in Manhattan Associates by 30.6% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 187,555 shares of the software maker’s stock valued at $32,505,000 after acquiring an additional 43,955 shares during the last quarter. Finally, WCM Investment Management LLC acquired a new position in Manhattan Associates in the 1st quarter valued at $980,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on MANH. Barclays reduced their price target on Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Morgan Stanley set a $180.00 target price on Manhattan Associates in a research note on Wednesday, July 29th. Citigroup increased their target price on Manhattan Associates from $177.00 to $193.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Wall Street Zen lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, DA Davidson lifted their price target on Manhattan Associates from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $209.20.
Manhattan Associates Stock Down 0.5%
Shares of NASDAQ MANH opened at $196.47 on Tuesday. The stock has a market capitalization of $11.46 billion, a PE ratio of 56.30 and a beta of 0.93. The firm has a fifty day moving average of $160.67 and a 200-day moving average of $146.96. Manhattan Associates, Inc. has a 52-week low of $119.06 and a 52-week high of $220.59.
Manhattan Associates (NASDAQ:MANH – Get Free Report) last issued its earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.07. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The business had revenue of $297.79 million for the quarter, compared to analyst estimates of $289.03 million. During the same period last year, the company posted $1.31 EPS. The business’s quarterly revenue was up 9.3% on a year-over-year basis. Equities research analysts expect that Manhattan Associates, Inc. will post 3.87 EPS for the current fiscal year.
Insider Activity
In other news, EVP James Stewart Gantt sold 5,139 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $195.53, for a total value of $1,004,828.67. Following the transaction, the executive vice president directly owned 55,676 shares in the company, valued at $10,886,328.28. This trade represents a 8.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eric Andrew Clark sold 3,000 shares of Manhattan Associates stock in a transaction dated Tuesday, August 11th. The shares were 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 $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. Insiders have sold 9,139 shares of company stock valued at $1,744,879 over the last 90 days. 0.84% of the stock is currently owned by insiders.
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.
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