Manhattan Associates, Inc. (NASDAQ:MANH) Stock Position Lifted by Ontario Teachers Pension Plan Board

Key Points

• Ontario Teachers Pension Plan Board increased its stake in Manhattan Associates by 168.9% during Q1, owning 3,525 shares valued at $610,000 based on the latest SEC filing.
• Multiple institutional investors, including Northern Trust Corp and Bank of New York Mellon Corp, substantially boosted their stakes in Manhattan Associates, reflecting a growing confidence in the company.
• Analysts have mixed views on the stock, with price targets ranging from $190.00 to $250.00, and a current consensus rating of "Hold".

Ontario Teachers Pension Plan Board increased its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 168.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,525 shares of the software maker's stock after purchasing an additional 2,214 shares during the period. Ontario Teachers Pension Plan Board's holdings in Manhattan Associates were worth $610,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Northern Trust Corp lifted its stake in shares of Manhattan Associates by 26.5% in the 4th quarter. Northern Trust Corp now owns 761,820 shares of the software maker's stock valued at $205,874,000 after purchasing an additional 159,572 shares during the period. Bank of New York Mellon Corp raised its position in Manhattan Associates by 10.1% during the first quarter. Bank of New York Mellon Corp now owns 591,794 shares of the software maker's stock worth $102,404,000 after acquiring an additional 54,273 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Manhattan Associates by 5.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 545,570 shares of the software maker's stock worth $147,435,000 after acquiring an additional 27,621 shares during the period. Price T Rowe Associates Inc. MD raised its position in Manhattan Associates by 16.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 513,293 shares of the software maker's stock worth $138,714,000 after acquiring an additional 73,546 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Manhattan Associates by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 493,208 shares of the software maker's stock worth $133,293,000 after acquiring an additional 15,201 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Trading Up 3.5%

Shares of NASDAQ:MANH traded up $7.44 during midday trading on Wednesday, hitting $220.19. 548,804 shares of the stock were exchanged, compared to its average volume of 809,705. The stock has a market cap of $13.31 billion, a P/E ratio of 61.51 and a beta of 1.10. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60. The company has a 50 day moving average price of $201.98 and a 200-day moving average price of $188.35.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.19. The firm had revenue of $272.42 million during the quarter, compared to analysts' expectations of $263.62 million. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%. The firm's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.18 EPS. On average, equities research analysts expect that Manhattan Associates, Inc. will post 3.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MANH shares. Truist Financial upped their target price on shares of Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Citigroup reissued a "neutral" rating and issued a $200.00 price objective (up previously from $177.00) on shares of Manhattan Associates in a report on Wednesday, July 16th. Morgan Stanley started coverage on shares of Manhattan Associates in a report on Monday, July 14th. They issued an "underweight" rating and a $190.00 price objective for the company. Redburn Atlantic lowered shares of Manhattan Associates from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $270.00 to $200.00 in a report on Tuesday, June 10th. Finally, Robert W. Baird upped their price objective on shares of Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Manhattan Associates presently has a consensus rating of "Hold" and an average target price of $216.67.

Insider Buying and Selling at Manhattan Associates

In other news, Chairman Eddie Capel sold 37,342 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $222.18, for a total transaction of $8,296,645.56. Following the completion of the sale, the chairman owned 162,988 shares in the company, valued at approximately $36,212,673.84. The trade was a 18.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Stewart Gantt sold 2,300 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $220.33, for a total value of $506,759.00. Following the sale, the executive vice president owned 48,660 shares of the company's stock, valued at $10,721,257.80. The trade was a 4.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,666 shares of company stock worth $9,251,781 in the last 90 days. 0.72% of the stock is owned by company insiders.

About Manhattan Associates

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.