Los Angeles Capital Management LLC Has $41.31 Million Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Los Angeles Capital Management LLC lowered its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 60.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 167,447 shares of the software maker’s stock after selling 259,879 shares during the quarter. Los Angeles Capital Management LLC owned 0.27% of Manhattan Associates worth $41,306,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Manhattan Associates by 0.9% during the first quarter. Vanguard Group Inc. now owns 6,671,321 shares of the software maker’s stock worth $1,669,365,000 after purchasing an additional 58,905 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Manhattan Associates by 16.8% in the fourth quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker’s stock valued at $187,967,000 after buying an additional 125,541 shares during the period. Norges Bank bought a new stake in shares of Manhattan Associates during the fourth quarter worth $146,984,000. TD Asset Management Inc increased its position in shares of Manhattan Associates by 10.5% during the first quarter. TD Asset Management Inc now owns 607,167 shares of the software maker’s stock worth $151,931,000 after acquiring an additional 57,859 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Manhattan Associates by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker’s stock worth $149,023,000 after acquiring an additional 2,156 shares during the period. Institutional investors own 98.45% of the company’s stock.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total value of $1,539,000.00. Following the transaction, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at $11,872,615.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Redburn Atlantic initiated coverage on Manhattan Associates in a report on Tuesday, May 14th. They set a “buy” rating and a $260.00 target price for the company. Loop Capital increased their price objective on Manhattan Associates from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. DA Davidson lifted their price objective on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Citigroup raised their price objective on Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Finally, StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $257.43.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $250.66 on Friday. Manhattan Associates, Inc. has a 52-week low of $182.97 and a 52-week high of $267.00. The stock has a market cap of $15.43 billion, a price-to-earnings ratio of 81.92 and a beta of 1.50. The firm’s 50-day moving average is $248.44 and its 200-day moving average is $239.31.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.22. The firm had revenue of $265.30 million for the quarter, compared to analyst estimates of $255.83 million. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share. Sell-side analysts predict that Manhattan Associates, Inc. will post 3.01 EPS for the current fiscal year.

Manhattan Associates 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.