Canada Pension Plan Investment Board Invests $9.64 Million in Manhattan Associates, Inc. $MANH

Key Points

• Canada Pension Plan Investment Board acquired 69,200 shares of Manhattan Associates worth approximately $9.64 million, joining institutional investors that collectively own 98.45% of the company.
• Manhattan Associates exceeded quarterly expectations, reporting $1.39 in EPS and $297.79 million in revenue, with revenue up 9.3% year over year.
• Analysts maintain a “Moderate Buy” consensus, with a $213.40 average price target, while the stock recently traded near its 52-week high at $223.28.

Canada Pension Plan Investment Board bought a new stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 69,200 shares of the software maker's stock, valued at approximately $9,636,000. Canada Pension Plan Investment Board owned about 0.12% of Manhattan Associates at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MANH. Caitong International Asset Management Co. Ltd increased its holdings in Manhattan Associates by 448.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker's stock valued at $28,000 after purchasing an additional 112 shares in the last quarter. Versant Capital Management Inc boosted its stake in Manhattan Associates by 508.9% in the second quarter. Versant Capital Management Inc now owns 274 shares of the software maker's stock worth $38,000 after purchasing an additional 229 shares in the last quarter. BNP Paribas bought a new stake in shares of Manhattan Associates during the fourth quarter worth $39,000. TD Private Client Wealth LLC grew its holdings in shares of Manhattan Associates by 83.8% during the fourth quarter. TD Private Client Wealth LLC now owns 239 shares of the software maker's stock worth $41,000 after purchasing an additional 109 shares during the last quarter. Finally, Leonteq Securities AG acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at $44,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $223.28 on Friday. The company's 50 day simple moving average is $173.96 and its 200 day simple moving average is $151.13. The firm has a market capitalization of $13.02 billion, a price-to-earnings ratio of 63.98 and a beta of 0.93. Manhattan Associates, Inc. has a fifty-two week low of $119.06 and a fifty-two week high of $227.03.

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Robert W. Baird upped their price target on shares of Manhattan Associates from $218.00 to $260.00 and gave the stock an "outperform" rating in a research report on Wednesday. Stifel Nicolaus upped their target price on shares of Manhattan Associates from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, July 29th. Weiss Ratings raised shares of Manhattan Associates from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, July 14th. DA Davidson boosted their price objective on shares of Manhattan Associates from $200.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, July 29th. Finally, Barclays reduced their price objective on Manhattan Associates from $239.00 to $201.00 and set an "overweight" rating on the stock in a report on Friday, May 29th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $213.40.

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 transaction of $1,004,828.67. Following the sale, the executive vice president owned 55,676 shares of the company's stock, valued at $10,886,328.28. This trade represents a 8.45% 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, 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 transaction, the chief executive officer owned 89,638 shares in the company, valued at $17,726,810.88. This trade represents a 3.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 9,139 shares of company stock worth $1,744,879. Corporate insiders own 0.84% of the company's stock.

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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