Park Avenue Securities LLC Lowers Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Park Avenue Securities LLC trimmed its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 4.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,828 shares of the software maker’s stock after selling 118 shares during the quarter. Park Avenue Securities LLC’s holdings in Manhattan Associates were worth $708,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. CenterBook Partners LP purchased a new position in Manhattan Associates in the fourth quarter valued at $761,000. Russell Investments Group Ltd. increased its stake in shares of Manhattan Associates by 9.1% in the 4th quarter. Russell Investments Group Ltd. now owns 59,852 shares of the software maker’s stock valued at $12,923,000 after purchasing an additional 4,986 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in Manhattan Associates by 59.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 21,612 shares of the software maker’s stock worth $4,271,000 after purchasing an additional 8,094 shares during the period. Highland Capital Management LLC purchased a new position in Manhattan Associates during the fourth quarter worth approximately $1,142,000. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Manhattan Associates by 82.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 26,894 shares of the software maker’s stock valued at $5,791,000 after purchasing an additional 12,124 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. DA Davidson increased their target price on Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Rosenblatt Securities reissued a “neutral” rating and set a $225.00 target price on shares of Manhattan Associates in a research note on Wednesday, April 24th. Redburn Atlantic assumed coverage on shares of Manhattan Associates in a research report on Tuesday, May 14th. They set a “buy” rating and a $260.00 price target for the company. William Blair reiterated a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Finally, StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, May 27th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $240.50.

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $251.21 on Friday. Manhattan Associates, Inc. has a one year low of $182.97 and a one year high of $266.94. The stock has a market cap of $15.47 billion, a PE ratio of 82.10 and a beta of 1.48. The stock has a 50 day moving average price of $223.32 and a 200 day moving average price of $230.81.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, April 23rd. The software maker reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.23. The business had revenue of $254.55 million during the quarter, compared to the consensus estimate of $243.32 million. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. As a group, analysts predict that Manhattan Associates, Inc. will post 2.72 earnings per share for the current fiscal year.

Manhattan Associates Company Profile

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.