Louisiana State Employees Retirement System decreased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH – Free Report) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,400 shares of the software maker’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Manhattan Associates were worth $4,292,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MANH. Tobam acquired a new stake in shares of Manhattan Associates during the first quarter worth about $25,000. Benjamin Edwards Inc. purchased a new stake in Manhattan Associates during the 1st quarter valued at approximately $27,000. Contravisory Investment Management Inc. acquired a new stake in Manhattan Associates during the 1st quarter worth approximately $31,000. DT Investment Partners LLC purchased a new position in shares of Manhattan Associates in the 2nd quarter valued at approximately $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Manhattan Associates in the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.
Manhattan Associates Trading Up 0.9 %
Shares of MANH stock traded up $2.38 during trading hours on Friday, hitting $262.09. The company’s stock had a trading volume of 91,024 shares, compared to its average volume of 416,134. The business has a fifty day moving average of $243.98 and a 200-day moving average of $238.37. Manhattan Associates, Inc. has a twelve month low of $182.97 and a twelve month high of $266.94. The stock has a market cap of $16.14 billion, a price-to-earnings ratio of 84.87 and a beta of 1.50.
Insider Buying and Selling
In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of Manhattan Associates stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total value of $1,539,000.00. Following the completion of the sale, the executive vice president now owns 46,287 shares in the company, valued at approximately $11,872,615.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the stock. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Citigroup raised their price objective on shares of Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a research note on Friday, June 28th. Loop Capital upped their target price on shares of Manhattan Associates from $250.00 to $265.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Redburn Atlantic began 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. Finally, DA Davidson upped their price target on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Manhattan Associates has a consensus rating of “Moderate Buy” and an average target price of $257.43.
Read Our Latest Analysis on MANH
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.
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