State Board of Administration of Florida Retirement System Boosts Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

State Board of Administration of Florida Retirement System boosted its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 2.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,935 shares of the software maker’s stock after buying an additional 2,052 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.12% of Manhattan Associates worth $18,000,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Lindbrook Capital LLC lifted its position in shares of Manhattan Associates by 28.8% during the fourth quarter. Lindbrook Capital LLC now owns 206 shares of the software maker’s stock worth $44,000 after purchasing an additional 46 shares during the last quarter. Accurate Wealth Management LLC lifted its position in shares of Manhattan Associates by 4.1% during the first quarter. Accurate Wealth Management LLC now owns 1,371 shares of the software maker’s stock worth $343,000 after purchasing an additional 54 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Manhattan Associates by 25.9% during the fourth quarter. UMB Bank n.a. now owns 282 shares of the software maker’s stock worth $61,000 after purchasing an additional 58 shares during the last quarter. Janiczek Wealth Management LLC lifted its position in shares of Manhattan Associates by 4.6% during the first quarter. Janiczek Wealth Management LLC now owns 1,492 shares of the software maker’s stock worth $373,000 after purchasing an additional 65 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its position in shares of Manhattan Associates by 3.4% during the fourth quarter. QRG Capital Management Inc. now owns 2,424 shares of the software maker’s stock worth $522,000 after purchasing an additional 80 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MANH has been the subject of several research analyst reports. Redburn Atlantic initiated coverage on Manhattan Associates in a research report on Tuesday, May 14th. They set a “buy” rating and a $260.00 target price for the company. DA Davidson lifted their target price on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, May 27th. Rosenblatt Securities restated a “neutral” rating and issued a $225.00 price objective on shares of Manhattan Associates in a report on Wednesday, April 24th. Finally, William Blair restated a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $248.86.

Manhattan Associates Stock Performance

MANH traded down $2.60 on Friday, hitting $216.45. The company had a trading volume of 96,742 shares, compared to its average volume of 406,030. Manhattan Associates, Inc. has a 12-month low of $182.97 and a 12-month high of $266.94. The stock has a market capitalization of $13.33 billion, a price-to-earnings ratio of 71.59 and a beta of 1.50. The stock has a fifty day moving average price of $231.38 and a 200-day moving average price of $233.10.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, April 23rd. The software maker reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.23. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. The company had revenue of $254.55 million during the quarter, compared to the consensus estimate of $243.32 million. Analysts forecast that Manhattan Associates, Inc. will post 2.72 EPS for the current fiscal year.

About Manhattan Associates

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.