Public Employees Retirement Association of Colorado Decreases Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Public Employees Retirement Association of Colorado cut its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 12.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,920 shares of the software maker’s stock after selling 14,377 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Manhattan Associates were worth $24,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in MANH. Norges Bank purchased a new stake in Manhattan Associates during the 4th quarter valued at about $146,984,000. TD Asset Management Inc lifted its position in Manhattan Associates by 234.2% during the fourth quarter. TD Asset Management Inc now owns 549,308 shares of the software maker’s stock valued at $118,277,000 after purchasing an additional 384,941 shares during the period. M&G Plc purchased a new stake in Manhattan Associates in the first quarter worth approximately $77,433,000. Epoch Investment Partners Inc. grew its position in Manhattan Associates by 110.6% in the 4th quarter. Epoch Investment Partners Inc. now owns 369,352 shares of the software maker’s stock worth $79,529,000 after purchasing an additional 193,951 shares during the period. Finally, Franklin Resources Inc. raised its stake in Manhattan Associates by 16.8% during the 4th quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker’s stock valued at $187,967,000 after buying an additional 125,541 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MANH. Citigroup boosted their price objective on shares of Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. Redburn Atlantic initiated coverage on shares of Manhattan Associates in a research note on Tuesday, May 14th. They issued a “buy” rating and a $260.00 price target on the stock. DA Davidson raised their target price on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Loop Capital upped their price target on shares of Manhattan Associates from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, StockNews.com upgraded shares of Manhattan Associates from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.43.

Manhattan Associates Trading Down 0.3 %

Shares of MANH stock traded down $0.68 on Monday, reaching $257.78. 248,175 shares of the company’s stock were exchanged, compared to its average volume of 426,431. The company’s fifty day simple moving average is $233.36 and its 200 day simple moving average is $234.87. The stock has a market capitalization of $15.87 billion, a PE ratio of 84.46 and a beta of 1.50. Manhattan Associates, Inc. has a 52 week low of $182.97 and a 52 week high of $266.94.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.22. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The business had revenue of $265.30 million during the quarter, compared to analyst estimates of $255.83 million. During the same period in the previous year, the company posted $0.63 EPS. Manhattan Associates’s revenue was up 14.8% on a year-over-year basis. As a group, sell-side analysts predict that Manhattan Associates, Inc. will post 3.01 earnings per share for the current fiscal year.

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.