Public Employees Retirement System of Ohio Lowers Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Public Employees Retirement System of Ohio trimmed its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 11.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,544 shares of the software maker’s stock after selling 4,083 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Manhattan Associates were worth $8,876,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Manhattan Associates by 0.6% during the third quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock valued at $619,918,000 after purchasing an additional 12,787 shares in the last quarter. FMR LLC boosted its holdings in shares of Manhattan Associates by 7.3% during the 3rd quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock valued at $539,521,000 after buying an additional 130,817 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Manhattan Associates during the 3rd quarter valued at $234,249,000. Bank of New York Mellon Corp grew its position in shares of Manhattan Associates by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker’s stock worth $149,023,000 after buying an additional 2,156 shares during the period. Finally, RGM Capital LLC increased its stake in shares of Manhattan Associates by 4.1% in the 2nd quarter. RGM Capital LLC now owns 583,037 shares of the software maker’s stock worth $143,824,000 after acquiring an additional 23,000 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Buying and Selling at Manhattan Associates

In related news, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the sale, the senior vice president now directly owns 22,086 shares in the company, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the transaction, the executive vice president now owns 42,812 shares in the company, valued at $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Manhattan Associates Stock Up 3.0 %

MANH opened at $309.78 on Friday. The stock has a market capitalization of $18.92 billion, a price-to-earnings ratio of 88.01 and a beta of 1.50. The firm has a 50 day moving average price of $285.94 and a 200-day moving average price of $261.51. Manhattan Associates, Inc. has a twelve month low of $199.23 and a twelve month high of $312.60.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. The business had revenue of $266.70 million during the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 EPS. As a group, analysts expect that Manhattan Associates, Inc. will post 3.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MANH shares. Loop Capital upped their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Raymond James lifted their price objective on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Citigroup increased their target price on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. DA Davidson lifted their price target on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Robert W. Baird increased their price objective on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $290.78.

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.