VIRGINIA RETIREMENT SYSTEMS ET Al Sells 169,955 Shares of Manhattan Associates, Inc. $MANH

Key Points

• Virginia Retirement Systems cut its Manhattan Associates stake by 86.6%, selling 169,955 shares and retaining 26,300 shares valued at approximately $5.2 million. Institutional investors collectively own 98.45% of the company.
• Manhattan Associates exceeded quarterly expectations, reporting $1.55 in EPS versus the $1.46 consensus and revenue of $306.19 million, up 11% year over year. Analysts project full-year EPS of $3.88.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $257.11; Citigroup and Stifel Nicolaus recently raised their targets to $280 and $300, respectively.

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 86.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,300 shares of the software maker's stock after selling 169,955 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Manhattan Associates were worth $5,226,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Manhattan Associates in the 2nd quarter valued at approximately $944,285,000. William Blair Investment Management LLC bought a new stake in Manhattan Associates during the second quarter worth approximately $94,049,000. Bank of America Corp DE bought a new stake in Manhattan Associates during the second quarter worth approximately $75,136,000. Bank of New York Mellon Corp acquired a new position in Manhattan Associates during the second quarter valued at approximately $54,011,000. Finally, Amundi grew its holdings in Manhattan Associates by 479.4% during the first quarter. Amundi now owns 454,095 shares of the software maker's stock valued at $60,449,000 after purchasing an additional 375,719 shares during the last quarter. Institutional investors own 98.45% of the company's stock.

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock opened at $248.39 on Monday. Manhattan Associates, Inc. has a 1 year low of $119.06 and a 1 year high of $254.00. The company's fifty day simple moving average is $216.59 and its 200-day simple moving average is $166.68. The company has a market cap of $14.48 billion, a price-to-earnings ratio of 69.58 and a beta of 0.85.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its earnings results on Tuesday, October 27th. The software maker reported $1.55 EPS for the quarter, beating the consensus estimate of $1.46 by $0.09. Manhattan Associates had a net margin of 18.41% and a return on equity of 98.67%. The firm had revenue of $306.19 million during the quarter, compared to analysts' expectations of $297.01 million. During the same period in the prior year, the company earned $1.36 EPS. The business's quarterly revenue was up 11.0% compared to the same quarter last year. As a group, research analysts forecast that Manhattan Associates, Inc. will post 3.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MANH has been the subject of a number of analyst reports. Citigroup boosted their price objective on shares of Manhattan Associates from $260.00 to $280.00 and gave the stock a "buy" rating in a research note on Wednesday, October 28th. Wall Street Zen lowered shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Sunday. Stifel Nicolaus lifted their target price on shares of Manhattan Associates from $250.00 to $300.00 and gave the stock a "buy" rating in a report on Wednesday. Weiss Ratings upgraded shares of Manhattan Associates from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, October 2nd. Finally, Barclays boosted their target price on shares of Manhattan Associates from $201.00 to $239.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 8th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Manhattan Associates has a consensus rating of "Moderate Buy" and an average target price of $257.11.

Insider Buying and Selling at Manhattan Associates

In related news, CEO Eric Clark sold 3,000 shares of Manhattan Associates stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total transaction of $593,280.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.84% of the company's stock.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.

The company's product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.

Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.

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