Railway Pension Investments Ltd Acquires Shares of 5,400 Manhattan Associates, Inc. (NASDAQ:MANH)

Railway Pension Investments Ltd acquired a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,400 shares of the software maker’s stock, valued at approximately $1,332,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MANH. Norges Bank purchased a new position in Manhattan Associates during the fourth quarter valued at $146,984,000. TD Asset Management Inc raised its position 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 valued at $118,277,000 after buying an additional 384,941 shares during the last quarter. M&G Plc acquired a new stake in shares of Manhattan Associates in the first quarter valued at about $77,433,000. Epoch Investment Partners Inc. raised its position in shares of Manhattan Associates by 110.6% in the fourth quarter. Epoch Investment Partners Inc. now owns 369,352 shares of the software maker’s stock valued at $79,529,000 after buying an additional 193,951 shares during the last quarter. Finally, Franklin Resources Inc. raised its position 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 last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Trading Down 0.4 %

MANH stock traded down $0.94 during trading on Tuesday, reaching $260.45. 20,642 shares of the stock were exchanged, compared to its average volume of 413,837. The business has a 50 day moving average price of $245.23 and a 200-day moving average price of $238.45. Manhattan Associates, Inc. has a 1 year low of $182.97 and a 1 year high of $266.94. The firm has a market capitalization of $16.04 billion, a price-to-earnings ratio of 84.97 and a beta of 1.50.

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

Insider Activity at Manhattan Associates

In related news, EVP James Stewart Gantt sold 6,000 shares of Manhattan Associates stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 46,287 shares in the company, valued at $11,872,615.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

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