Public Employees Retirement System of Ohio Takes $2.57 Million Position in Manhattan Associates, Inc. $MANH

Public Employees Retirement System of Ohio purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 18,434 shares of the software maker’s stock, valued at approximately $2,567,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its holdings in Manhattan Associates by 448.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker’s stock worth $28,000 after purchasing an additional 112 shares during the last quarter. BNP Paribas acquired a new position in Manhattan Associates during the 4th quarter valued at about $39,000. TD Private Client Wealth LLC boosted its stake in shares of Manhattan Associates by 83.8% in the 4th quarter. TD Private Client Wealth LLC now owns 239 shares of the software maker’s stock valued at $41,000 after purchasing an additional 109 shares during the last quarter. Leonteq Securities AG bought a new position in shares of Manhattan Associates in the 4th quarter valued at about $44,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Manhattan Associates during the 4th quarter worth approximately $49,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $213.77 on Friday. Manhattan Associates, Inc. has a 52 week low of $119.06 and a 52 week high of $227.03. The company’s 50 day moving average price is $182.70 and its two-hundred day moving average price is $153.74. The company has a market capitalization of $12.46 billion, a P/E ratio of 61.25 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.07. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The company had revenue of $297.79 million during the quarter, compared to the consensus estimate of $289.03 million. During the same quarter in the prior year, the firm earned $1.31 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. Analysts forecast that Manhattan Associates, Inc. will post 3.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

MANH has been the subject of a number of recent research reports. Citigroup boosted their price target on shares of Manhattan Associates from $177.00 to $193.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Morgan Stanley set a $180.00 target price on shares of Manhattan Associates in a report on Wednesday, July 29th. Weiss Ratings upgraded shares of Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. DA Davidson increased their price target on Manhattan Associates from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, Stifel Nicolaus increased their price target on Manhattan Associates from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average price target of $213.40.

Insider Transactions at Manhattan Associates

In other news, CEO Eric Clark sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total transaction of $593,280.00. Following the completion of the transaction, the chief executive officer directly owned 89,638 shares of the company’s stock, valued at $17,726,810.88. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James Gantt sold 5,139 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $195.53, for a total value of $1,004,828.67. Following the transaction, the executive vice president owned 55,676 shares of the company’s stock, valued at approximately $10,886,328.28. The trade was a 8.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 9,139 shares of company stock valued at $1,744,879. Corporate insiders own 0.84% of the company’s stock.

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.