Public Employees Retirement System of Ohio Purchases New Holdings in Manhattan Associates, Inc. $MANH

Key Points

• Public Employees Retirement System of Ohio purchased 18,434 shares of Manhattan Associates worth approximately $2.57 million. Institutional investors collectively own 98.45% of the company.
• Manhattan Associates reported quarterly EPS of $1.39, beating estimates of $1.32, while revenue rose 9.3% year over year to $297.79 million.
• Analysts maintain a generally positive outlook, with eight Buy ratings and three Holds; the consensus rating is “Moderate Buy” and the average price target is $213.40. Shares opened at $213.77, while insiders sold 9,139 shares worth about $1.74 million during the latest quarter.

Public Employees Retirement System of Ohio purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 18,434 shares of the software maker's stock, valued at approximately $2,567,000.

A number of other hedge funds also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its position in shares of Manhattan Associates by 448.0% during the third 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 during the period. Versant Capital Management Inc lifted its position 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 during the period. BNP Paribas bought a new position in Manhattan Associates in the fourth quarter worth $39,000. TD Private Client Wealth LLC boosted its stake in 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 buying an additional 109 shares in the last quarter. Finally, Leonteq Securities AG acquired a new stake in Manhattan Associates during the fourth quarter worth $44,000. Institutional investors own 98.45% of the company's stock.

Manhattan Associates Price Performance

MANH stock opened at $213.77 on Friday. The business has a fifty day moving average price of $182.70 and a 200 day moving average price of $153.74. Manhattan Associates, Inc. has a fifty-two week low of $119.06 and a fifty-two week high of $227.03. The stock has a market capitalization of $12.46 billion, a price-to-earnings ratio of 61.25 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $297.79 million for the quarter, compared to analyst estimates of $289.03 million. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The business's revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.31 earnings per share. On average, equities analysts expect that Manhattan Associates, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Activity

In other Manhattan Associates news, CEO Eric Clark sold 3,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total transaction of $593,280.00. Following the sale, the chief executive officer owned 89,638 shares of the company's stock, valued at $17,726,810.88. This represents a 3.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James Gantt sold 5,139 shares of the firm's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the completion of the sale, the executive vice president owned 55,676 shares of the company's stock, valued at $10,886,328.28. The trade was a 8.45% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 9,139 shares of company stock worth $1,744,879. 0.84% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MANH has been the subject of a number of recent research reports. Wall Street Zen cut shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Morgan Stanley set a $180.00 target price on shares of Manhattan Associates in a research note on Wednesday, July 29th. DA Davidson increased their price target 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. Weiss Ratings raised shares of Manhattan Associates from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 14th. Finally, Robert W. Baird raised their price target on shares of Manhattan Associates from $218.00 to $260.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 26th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Manhattan Associates has an average rating of "Moderate Buy" and a consensus price target of $213.40.

Manhattan Associates 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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