Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System decreased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) 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.

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

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.

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.