State of Michigan Retirement System Boosts Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

State of Michigan Retirement System boosted its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,131 shares of the software maker’s stock after acquiring an additional 400 shares during the quarter. State of Michigan Retirement System’s holdings in Manhattan Associates were worth $4,036,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MANH. Blue Trust Inc. raised its holdings in Manhattan Associates by 259.4% during the fourth quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock worth $25,000 after purchasing an additional 83 shares in the last quarter. Bear Mountain Capital Inc. purchased a new stake in shares of Manhattan Associates during the 4th quarter worth $26,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Manhattan Associates in the fourth quarter valued at about $26,000. Contravisory Investment Management Inc. purchased a new position in Manhattan Associates in the 1st quarter valued at approximately $31,000. Finally, Rise Advisors LLC acquired a new position in shares of Manhattan Associates during the 1st quarter worth $40,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on MANH shares. Redburn Atlantic initiated coverage on Manhattan Associates in a research note on Tuesday, May 14th. They set a “buy” rating and a $260.00 price target for the company. William Blair restated a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Citigroup upped their price target on Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Manhattan Associates in a research report on Wednesday, April 24th. Finally, StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, May 27th. Four research 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 currently has an average rating of “Moderate Buy” and a consensus price target of $245.13.

Manhattan Associates Price Performance

Shares of MANH opened at $245.66 on Wednesday. Manhattan Associates, Inc. has a 12 month low of $182.97 and a 12 month high of $266.94. The company has a market cap of $15.13 billion, a P/E ratio of 80.28 and a beta of 1.50. The stock has a fifty day moving average price of $224.37 and a 200 day moving average price of $231.50.

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

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.