VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Shares in Manhattan Associates, Inc. $MANH

Key Points

• Virginia Retirement Systems purchased 196,255 Manhattan Associates shares worth approximately $27.3 million, while institutional investors and hedge funds collectively owned 98.45% of the company.
• Manhattan Associates exceeded quarterly expectations, reporting $1.39 in EPS versus the $1.32 consensus and $297.79 million in revenue, up 9.3% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $213.40 target price; however, company insiders sold 9,139 shares worth about $1.74 million over the past 90 days.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 196,255 shares of the software maker's stock, valued at approximately $27,329,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.34% of Manhattan Associates at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. California State Teachers Retirement System raised its stake in Manhattan Associates by 13,428.1% in the 2nd quarter. California State Teachers Retirement System now owns 9,492,116 shares of the software maker's stock valued at $1,321,777,000 after acquiring an additional 9,421,950 shares during the period. BlackRock Inc. bought a new position in shares of Manhattan Associates in the second quarter valued at about $944,285,000. T. Rowe Price Investment Management Inc. lifted its stake in shares of Manhattan Associates by 35.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker's stock worth $447,182,000 after buying an additional 671,589 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Manhattan Associates by 6.9% during the 4th quarter. AQR Capital Management LLC now owns 2,219,539 shares of the software maker's stock worth $384,668,000 after buying an additional 142,407 shares during the period. Finally, Morgan Stanley raised its holdings in Manhattan Associates by 2.5% in the 4th quarter. Morgan Stanley now owns 2,178,422 shares of the software maker's stock valued at $377,543,000 after acquiring an additional 53,037 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Manhattan Associates

In other news, CEO Eric Clark sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total value of $593,280.00. Following the completion of the transaction, the chief executive officer directly owned 89,638 shares in the company, valued at approximately $17,726,810.88. The trade was a 3.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James 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 sale, the executive vice president directly owned 55,676 shares of the company's stock, valued at approximately $10,886,328.28. This trade represents a 8.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,139 shares of company stock valued at $1,744,879 over the last 90 days. Corporate insiders own 0.84% of the company's stock.

Manhattan Associates Stock Performance

Shares of MANH opened at $213.77 on Tuesday. Manhattan Associates, Inc. has a 12 month low of $119.06 and a 12 month high of $227.03. The firm's 50 day moving average is $184.21 and its 200-day moving average is $154.34. The stock has a market capitalization of $12.46 billion, a PE ratio of 61.25 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 86.72% and a net margin of 18.67%.The firm's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.31 earnings per share. Equities research analysts predict that Manhattan Associates, Inc. will post 3.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MANH. Stifel Nicolaus upped their target price 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 target on Manhattan Associates in a report on Wednesday, July 29th. DA Davidson boosted their price target on Manhattan Associates from $200.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. Robert W. Baird upped their price objective on Manhattan Associates from $218.00 to $260.00 and gave the company an "outperform" rating in a report on Wednesday, August 26th. Finally, Barclays lowered their price objective on Manhattan Associates from $239.00 to $201.00 and set an "overweight" rating on the stock in a research report on Friday, May 29th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Manhattan Associates presently has a consensus rating of "Moderate Buy" and a consensus target price of $213.40.

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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