Public Employees Retirement Association of Colorado Decreases Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Public Employees Retirement Association of Colorado reduced its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 0.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 98,611 shares of the software maker’s stock after selling 309 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Manhattan Associates were worth $24,325,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MANH. Norges Bank acquired a new position in Manhattan Associates in the 4th quarter worth $146,984,000. TD Asset Management Inc lifted its stake in shares of Manhattan Associates by 234.2% in the fourth quarter. TD Asset Management Inc now owns 549,308 shares of the software maker’s stock worth $118,277,000 after acquiring an additional 384,941 shares in the last quarter. M&G Plc acquired a new position in shares of Manhattan Associates in the first quarter worth about $77,433,000. Epoch Investment Partners Inc. grew its stake in Manhattan Associates by 110.6% during the 4th quarter. Epoch Investment Partners Inc. now owns 369,352 shares of the software maker’s stock valued at $79,529,000 after purchasing an additional 193,951 shares in the last quarter. Finally, Fiera Capital Corp purchased a new stake in Manhattan Associates during the 2nd quarter worth approximately $44,705,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Loop Capital increased their target price on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. DA Davidson boosted their target price on shares of Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Citigroup increased their price target on shares of Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $260.29.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH opened at $275.94 on Friday. The company’s fifty day moving average is $252.97 and its two-hundred day moving average is $240.53. Manhattan Associates, Inc. has a 1-year low of $182.97 and a 1-year high of $278.08. The stock has a market capitalization of $16.99 billion, a price-to-earnings ratio of 90.18 and a beta of 1.50.

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