VIRGINIA RETIREMENT SYSTEMS ET Al Takes $27.33 Million Position in Manhattan Associates, Inc. $MANH

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) in the second quarter, HoldingsChannel reports. The firm acquired 196,255 shares of the software maker’s stock, valued at approximately $27,329,000.

Other hedge funds have also added to or reduced their stakes in the company. NewEdge Advisors LLC increased its stake in shares of Manhattan Associates by 3.3% in the 2nd quarter. NewEdge Advisors LLC now owns 1,852 shares of the software maker’s stock worth $366,000 after acquiring an additional 59 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Manhattan Associates by 2.6% during the third quarter. Tower Research Capital LLC TRC now owns 2,708 shares of the software maker’s stock worth $555,000 after acquiring an additional 69 shares in the last quarter. Covestor Ltd boosted its stake in Manhattan Associates by 12.2% during the fourth quarter. Covestor Ltd now owns 670 shares of the software maker’s stock worth $116,000 after acquiring an additional 73 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in Manhattan Associates by 1.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 6,369 shares of the software maker’s stock worth $1,104,000 after purchasing an additional 80 shares during the period. Finally, V Square Quantitative Management LLC grew its holdings 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 worth $46,000 after purchasing an additional 92 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock opened at $213.77 on Tuesday. The stock has a market capitalization of $12.46 billion, a PE ratio of 61.25 and a beta of 0.95. Manhattan Associates, Inc. has a 52-week low of $119.06 and a 52-week high of $227.03. The company has a 50-day simple moving average of $184.21 and a two-hundred day simple moving average of $154.34.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.07. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The firm had revenue of $297.79 million for the quarter, compared to analysts’ expectations of $289.03 million. During the same quarter in the prior year, the company posted $1.31 earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities research analysts forecast that Manhattan Associates, Inc. will post 3.87 EPS for the current fiscal year.

Insider Buying and Selling

In other Manhattan Associates news, CEO Eric Clark sold 3,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total transaction of $593,280.00. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James Gantt sold 5,139 shares of Manhattan Associates stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $195.53, for a total value of $1,004,828.67. Following the completion of the sale, the executive vice president directly owned 55,676 shares of the company’s stock, valued at approximately $10,886,328.28. The trade was a 8.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 9,139 shares of company stock valued at $1,744,879. 0.84% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MANH shares. Morgan Stanley set a $180.00 target price on shares of Manhattan Associates in a report on Wednesday, July 29th. Stifel Nicolaus upped their price target on Manhattan Associates from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. DA Davidson lifted their price objective on Manhattan Associates from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Wall Street Zen downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Citigroup increased their target price on Manhattan Associates from $177.00 to $193.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus price target of $213.40.

Manhattan Associates Profile

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.