Caisse de depot et placement du Quebec Makes New $38.65 Million Investment in Manhattan Associates, Inc. $MANH

Caisse de depot et placement du Quebec acquired a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) in the second quarter, HoldingsChannel.com reports. The firm acquired 277,563 shares of the software maker’s stock, valued at approximately $38,651,000.

Several other large investors have also modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of Manhattan Associates by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker’s stock worth $305,199,000 after buying an additional 88,005 shares during the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of Manhattan Associates during the fourth quarter valued at approximately $6,066,000. John G Ullman & Associates Inc. bought a new stake in Manhattan Associates during the fourth quarter worth $2,106,000. William Blair Investment Management LLC purchased a new position in Manhattan Associates in the second quarter worth $94,049,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in Manhattan Associates by 30.6% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 187,555 shares of the software maker’s stock worth $32,505,000 after purchasing an additional 43,955 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on MANH. DA Davidson raised their target price on Manhattan Associates from $200.00 to $210.00 and gave the company a “buy” rating in a research 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. Wall Street Zen downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Barclays dropped their target price on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Finally, Robert W. Baird increased their target price on shares of Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a research report on Wednesday. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $213.40.

Insider Buying and Selling

In other news, CEO Eric Andrew Clark sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total value of $593,280.00. Following the completion of the transaction, the chief executive officer directly owned 89,638 shares in the company, valued at approximately $17,726,810.88. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Stewart Gantt sold 5,139 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the transaction, the executive vice president directly owned 55,676 shares of the company’s stock, valued at approximately $10,886,328.28. This represents a 8.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,139 shares of company stock valued at $1,744,879 over the last 90 days. 0.84% of the stock is owned by company insiders.

Manhattan Associates Stock Performance

Shares of MANH opened at $223.28 on Friday. The stock’s 50-day simple moving average is $173.96 and its 200 day simple moving average is $151.13. The stock has a market capitalization of $13.02 billion, a price-to-earnings ratio of 63.98 and a beta of 0.93. Manhattan Associates, Inc. has a 52-week low of $119.06 and a 52-week high of $227.03.

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

About Manhattan Associates

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.