California State Teachers Retirement System Reduces Stake in Manhattan Associates, Inc. $MANH

California State Teachers Retirement System lowered its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 2.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 68,166 shares of the software maker's stock after selling 2,000 shares during the period. California State Teachers Retirement System owned about 0.12% of Manhattan Associates worth $9,492,116 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. BNP Paribas acquired a new stake in Manhattan Associates during the fourth quarter worth about $39,000. TD Private Client Wealth LLC increased its position in Manhattan Associates by 83.8% during the 4th quarter. TD Private Client Wealth LLC now owns 239 shares of the software maker's stock valued at $41,000 after buying an additional 109 shares in the last quarter. Leonteq Securities AG purchased a new stake in Manhattan Associates during the fourth quarter worth $44,000. NBH Bank purchased a new stake in shares of Manhattan Associates in the second quarter valued at about $37,000. Finally, Versant Capital Management Inc raised its stake in shares of Manhattan Associates by 508.9% in the second quarter. Versant Capital Management Inc now owns 274 shares of the software maker's stock valued at $38,000 after acquiring an additional 229 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, CEO Eric Clark sold 3,000 shares of the firm's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total value of $593,280.00. Following the transaction, the chief executive officer directly owned 89,638 shares of the company's stock, valued at $17,726,810.88. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP James Gantt sold 5,139 shares of Manhattan Associates stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total value of $1,004,828.67. Following the transaction, the executive vice president owned 55,676 shares in the company, valued at approximately $10,886,328.28. This trade represents a 8.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.84% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MANH shares. Barclays increased their price objective on shares of Manhattan Associates from $201.00 to $239.00 and gave the stock an "overweight" rating in a report on Tuesday, September 8th. Stifel Nicolaus lifted their price objective on Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Morgan Stanley set a $180.00 price objective on shares of Manhattan Associates in a research note on Wednesday, July 29th. DA Davidson raised their target price on shares of Manhattan Associates from $200.00 to $210.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Finally, Citigroup increased their price target on Manhattan Associates from $177.00 to $193.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Manhattan Associates presently has an average rating of "Moderate Buy" and a consensus price target of $217.20.

Manhattan Associates Stock Performance

MANH traded up $0.69 on Tuesday, hitting $212.23. 265,803 shares of the company were exchanged, compared to its average volume of 764,440. The company has a market cap of $12.38 billion, a PE ratio of 60.83 and a beta of 0.95. Manhattan Associates, Inc. has a 12 month low of $119.06 and a 12 month high of $227.03. The stock's fifty day moving average is $190.03 and its 200-day moving average is $156.72.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.32 by $0.07. The business had revenue of $297.79 million during the quarter, compared to analysts' expectations of $289.03 million. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The business's quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the company posted $1.31 earnings per share. As a group, equities research analysts expect that Manhattan Associates, Inc. will post 3.87 EPS for the current fiscal year.

Manhattan Associates Profile

Manhattan Associates, Inc is a technology company that develops cloud-based software for supply chain, inventory, and omnichannel commerce operations. Its solutions help businesses manage the movement of goods from suppliers and distribution centers to stores and customers, while improving visibility, efficiency, and service.

The company's product portfolio includes Manhattan Active Warehouse Management, Manhattan Active Transportation Management, Manhattan Active Order Management, supply chain planning, inventory optimization, labor management, and customer engagement applications.

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