Principal Financial Group Inc. Increases Stake in Manhattan Associates, Inc. $MANH

Principal Financial Group Inc. lifted its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 4.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 152,407 shares of the software maker’s stock after purchasing an additional 6,076 shares during the period. Principal Financial Group Inc.’s holdings in Manhattan Associates were worth $20,288,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Manhattan Associates by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 6,957,028 shares of the software maker’s stock valued at $1,205,723,000 after acquiring an additional 136,708 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Manhattan Associates by 35.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker’s stock worth $447,182,000 after acquiring an additional 671,589 shares in the last quarter. AQR Capital Management LLC grew its holdings in Manhattan Associates by 6.9% during the 4th quarter. AQR Capital Management LLC now owns 2,219,539 shares of the software maker’s stock worth $384,668,000 after acquiring an additional 142,407 shares in the last quarter. Morgan Stanley increased its position in shares of Manhattan Associates by 2.5% in the 4th quarter. Morgan Stanley now owns 2,178,422 shares of the software maker’s stock valued at $377,543,000 after purchasing an additional 53,037 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Manhattan Associates by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker’s stock valued at $305,199,000 after purchasing an additional 88,005 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Price Performance

Shares of MANH opened at $159.12 on Wednesday. Manhattan Associates, Inc. has a 1-year low of $119.06 and a 1-year high of $247.22. The stock has a market cap of $9.42 billion, a PE ratio of 44.57 and a beta of 0.97. The firm has a fifty day moving average price of $144.60 and a 200 day moving average price of $145.35.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, April 21st. The software maker reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.14. The company had revenue of $282.21 million during the quarter, compared to the consensus estimate of $273.70 million. Manhattan Associates had a net margin of 19.68% and a return on equity of 78.13%. Manhattan Associates’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.19 earnings per share. As a group, equities analysts expect that Manhattan Associates, Inc. will post 3.72 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Rothschild & Co Redburn set a $145.00 price target on Manhattan Associates in a report on Thursday, April 16th. Citigroup increased their price objective on Manhattan Associates from $177.00 to $193.00 and gave the company a “buy” rating in a report on Tuesday. DA Davidson reissued a “buy” rating and set a $200.00 target price on shares of Manhattan Associates in a research report on Wednesday, May 20th. Stifel Nicolaus set a $200.00 target price on Manhattan Associates in a research note on Wednesday, May 20th. Finally, Barclays lowered their price target on Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating for the company in a report on Friday, May 29th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Manhattan Associates has a consensus rating of “Moderate Buy” and an average target price of $201.00.

Insider Activity

In related news, EVP James Stewart Gantt sold 7,300 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $139.25, for a total transaction of $1,016,525.00. Following the transaction, the executive vice president owned 60,815 shares in the company, valued at $8,468,488.75. This trade represents a 10.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric Andrew Clark sold 1,000 shares of Manhattan Associates stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $146.77, for a total value of $146,770.00. Following the transaction, the chief executive officer directly owned 92,638 shares in the company, valued at approximately $13,596,479.26. This trade represents a 1.07% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.84% of the stock is currently owned by insiders.

Manhattan Associates Profile

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.