South Dakota Investment Council Invests $624,000 in Manhattan Associates, Inc. (NASDAQ:MANH)

South Dakota Investment Council bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,900 shares of the software maker’s stock, valued at approximately $624,000.

A number of other large investors also recently modified their holdings of the stock. GAMMA Investing LLC acquired a new position in Manhattan Associates in the fourth quarter valued at approximately $106,000. Linden Thomas Advisory Services LLC lifted its holdings in Manhattan Associates by 3.0% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 7,226 shares of the software maker’s stock valued at $1,556,000 after buying an additional 211 shares during the period. California Public Employees Retirement System lifted its holdings in Manhattan Associates by 2.5% in the fourth quarter. California Public Employees Retirement System now owns 361,476 shares of the software maker’s stock valued at $77,833,000 after buying an additional 8,811 shares during the period. Duality Advisers LP acquired a new position in Manhattan Associates in the fourth quarter valued at approximately $833,000. Finally, Handelsbanken Fonder AB lifted its holdings in Manhattan Associates by 23.2% in the fourth quarter. Handelsbanken Fonder AB now owns 13,288 shares of the software maker’s stock valued at $2,861,000 after buying an additional 2,500 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MANH has been the topic of several analyst reports. Truist Financial increased their price objective on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Raymond James increased their target price on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. DA Davidson upgraded shares of Manhattan Associates from a “neutral” rating to a “buy” rating and increased their target price for the stock from $220.00 to $240.00 in a report on Thursday. Citigroup cut their target price on shares of Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $225.00 target price on shares of Manhattan Associates in a report on Wednesday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $234.86.

Manhattan Associates Trading Up 1.0 %

Manhattan Associates stock opened at $208.30 on Friday. The company has a market cap of $12.83 billion, a P/E ratio of 68.07 and a beta of 1.44. Manhattan Associates, Inc. has a 1-year low of $163.43 and a 1-year high of $266.94. The company has a fifty day simple moving average of $245.12 and a 200 day simple moving average of $226.92.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.23. The business had revenue of $238.26 million during the quarter, compared to the consensus estimate of $223.99 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. On average, equities research analysts forecast that Manhattan Associates, Inc. will post 2.81 EPS for the current year.

Insider Transactions at Manhattan Associates

In other news, EVP James Stewart Gantt sold 680 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total transaction of $169,211.20. Following the transaction, the executive vice president now directly owns 57,093 shares in the company, valued at approximately $14,207,022.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP James Stewart Gantt sold 680 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total transaction of $169,211.20. Following the transaction, the executive vice president now directly owns 57,093 shares in the company, valued at approximately $14,207,022.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eddie Capel sold 10,897 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the transaction, the chief executive officer now owns 242,153 shares in the company, valued at $59,988,562.69. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Manhattan Associates 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.