Manhattan Associates, Inc. $MANH Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Decreases Holdings

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 86.6% during the third quarter, Holdings Channel reports. The institutional investor owned 26,300 shares of the software maker’s stock after selling 169,955 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Manhattan Associates were worth $5,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in MANH. NBH Bank acquired a new position in shares of Manhattan Associates in the 2nd quarter valued at $37,000. Versant Capital Management Inc boosted its position in shares of Manhattan Associates by 508.9% during the 2nd quarter. Versant Capital Management Inc now owns 274 shares of the software maker’s stock valued at $38,000 after acquiring an additional 229 shares in the last quarter. V Square Quantitative Management LLC increased its stake in Manhattan Associates by 35.9% in the first quarter. V Square Quantitative Management LLC now owns 348 shares of the software maker’s stock valued at $46,000 after acquiring an additional 92 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in Manhattan Associates in the second quarter valued at about $62,000. Finally, Harbor Investment Advisory LLC bought a new stake in Manhattan Associates in the second quarter valued at about $64,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Buying and Selling

In other Manhattan Associates news, CEO Eric Clark sold 3,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer owned 89,638 shares in the company, valued at approximately $17,726,810.88. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.84% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on MANH. Stifel Nicolaus raised their price target on shares of Manhattan Associates from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday. Truist Financial reiterated a “buy” rating and issued a $305.00 price objective (up from $240.00) on shares of Manhattan Associates in a research note on Wednesday, October 28th. Wall Street Zen cut Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday. DA Davidson raised their target price on Manhattan Associates from $210.00 to $230.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 28th. Finally, UBS Group set a $305.00 price target on Manhattan Associates in a research report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and an average price target of $257.11.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $248.39 on Monday. The stock’s fifty day moving average is $216.59 and its 200-day moving average is $166.68. The stock has a market capitalization of $14.48 billion, a PE ratio of 69.58 and a beta of 0.85. Manhattan Associates, Inc. has a 52 week low of $119.06 and a 52 week high of $254.00.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, October 27th. The software maker reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.09. Manhattan Associates had a return on equity of 98.67% and a net margin of 18.41%. The company had revenue of $306.19 million during the quarter, compared to analyst estimates of $297.01 million. During the same period last year, the company posted $1.36 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, analysts forecast that Manhattan Associates, Inc. will post 3.88 earnings per share for the current fiscal year.

About Manhattan Associates

Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.

The company’s product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.

Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.