Public Employees Retirement System of Ohio Cuts 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 4.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,088 shares of the software maker’s stock after selling 1,456 shares during the period. Public Employees Retirement System of Ohio’s holdings in Manhattan Associates were worth $8,131,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Manhattan Associates by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker’s stock valued at $1,811,299,000 after purchasing an additional 50,538 shares in the last quarter. FMR LLC boosted its holdings in Manhattan Associates by 16.2% in the fourth quarter. FMR LLC now owns 2,227,669 shares of the software maker’s stock valued at $602,005,000 after purchasing an additional 310,257 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Manhattan Associates by 43.2% in the fourth quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock valued at $517,917,000 after purchasing an additional 578,295 shares in the last quarter. Invesco Ltd. boosted its holdings in Manhattan Associates by 3.1% in the fourth quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker’s stock valued at $502,960,000 after purchasing an additional 55,334 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Manhattan Associates by 101.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker’s stock valued at $452,321,000 after purchasing an additional 841,276 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Trading Down 1.2%

MANH stock opened at $185.23 on Tuesday. The company has a market capitalization of $11.25 billion, a P/E ratio of 52.77 and a beta of 1.13. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60. The business has a 50 day simple moving average of $174.47 and a 200-day simple moving average of $219.72.

Insider Buying and Selling

In related news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the completion of the sale, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at $17,298,758.29. This trade represents a 2.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

MANH has been the subject of a number of research analyst reports. Raymond James lowered their price target on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Loop Capital reaffirmed a “hold” rating and issued a $170.00 price target (down from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. Citigroup lowered their price target on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a report on Friday, March 14th. William Blair raised Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Finally, Truist Financial increased their price objective on Manhattan Associates from $190.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, May 22nd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.14.

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.