California State Teachers Retirement System grew its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 22.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,166 shares of the software maker's stock after purchasing an additional 12,930 shares during the period. California State Teachers Retirement System owned about 0.12% of Manhattan Associates worth $9,340,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in MANH. Geode Capital Management LLC raised its holdings in Manhattan Associates by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker's stock valued at $305,199,000 after acquiring an additional 88,005 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Manhattan Associates during the 4th quarter valued at $6,066,000. John G Ullman & Associates Inc. acquired a new stake in shares of Manhattan Associates during the 4th quarter worth $2,106,000. VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in shares of Manhattan Associates by 30.6% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 187,555 shares of the software maker's stock worth $32,505,000 after purchasing an additional 43,955 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Manhattan Associates by 771.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 63,117 shares of the software maker's stock worth $10,939,000 after purchasing an additional 55,877 shares during the period. 98.45% of the stock is owned by institutional investors.
Insider Transactions at Manhattan Associates
In other news, CEO Eric Andrew Clark sold 1,000 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $146.77, for a total value of $146,770.00. Following the completion of the transaction, the chief executive officer owned 92,638 shares of the company's stock, valued at approximately $13,596,479.26. This represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Stewart Gantt sold 5,139 shares of the company's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the transaction, the executive vice president owned 55,676 shares of the company's stock, valued at approximately $10,886,328.28. This represents a 8.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.84% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on MANH. Stifel Nicolaus boosted their price target on Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. Citigroup increased their price objective on shares of Manhattan Associates from $177.00 to $193.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Rothschild & Co Redburn set a $145.00 target price on shares of Manhattan Associates in a report on Thursday, April 16th. Weiss Ratings upgraded shares of Manhattan Associates from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 14th. Finally, Barclays cut their price target on shares of Manhattan Associates from $239.00 to $201.00 and set an "overweight" rating for the company in a report on Friday, May 29th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $209.20.
Check Out Our Latest Stock Report on MANH
Manhattan Associates Stock Performance
Manhattan Associates stock opened at $187.24 on Tuesday. Manhattan Associates, Inc. has a 52 week low of $119.06 and a 52 week high of $220.72. The stock has a market capitalization of $11.08 billion, a P/E ratio of 53.65 and a beta of 0.97. The stock has a fifty day moving average of $151.44 and a 200-day moving average of $145.36.
Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $289.03 million. During the same period in the prior year, the company earned $1.31 EPS. Manhattan Associates's revenue for the quarter was up 9.3% on a year-over-year basis. On average, research analysts forecast that Manhattan Associates, Inc. will post 3.87 earnings per share for the current year.
About Manhattan Associates
(
Free Report)
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.
Further Reading
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