Ontario Teachers Pension Plan Board Decreases Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Ontario Teachers Pension Plan Board trimmed its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 38.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,587 shares of the software maker’s stock after selling 1,613 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Manhattan Associates were worth $728,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Fidelis Capital Partners LLC boosted its position in shares of Manhattan Associates by 3.2% during the third quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock valued at $347,000 after buying an additional 40 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Manhattan Associates by 16.7% during the 3rd quarter. UMB Bank n.a. now owns 301 shares of the software maker’s stock valued at $85,000 after acquiring an additional 43 shares during the last quarter. SkyView Investment Advisors LLC grew its stake in shares of Manhattan Associates by 0.9% in the second quarter. SkyView Investment Advisors LLC now owns 5,018 shares of the software maker’s stock worth $1,238,000 after acquiring an additional 46 shares during the period. Huntington National Bank raised its holdings in shares of Manhattan Associates by 5.9% during the third quarter. Huntington National Bank now owns 879 shares of the software maker’s stock valued at $247,000 after purchasing an additional 49 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in Manhattan Associates by 3.3% during the third quarter. CIBC Asset Management Inc now owns 1,798 shares of the software maker’s stock valued at $506,000 after purchasing an additional 58 shares during the period. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Up 0.1 %

NASDAQ MANH opened at $271.80 on Friday. The company has a 50 day moving average price of $280.59 and a 200 day moving average price of $253.88. Manhattan Associates, Inc. has a 52 week low of $199.23 and a 52 week high of $307.50. The firm has a market cap of $16.60 billion, a PE ratio of 77.21 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating the consensus estimate of $1.06 by $0.29. The firm had revenue of $266.70 million during the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. Manhattan Associates’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm posted $0.79 EPS. On average, equities research analysts anticipate that Manhattan Associates, Inc. will post 3.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MANH. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Citigroup raised their target price on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Truist Financial upped their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Loop Capital raised their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Finally, DA Davidson upped their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Manhattan Associates currently has an average rating of “Moderate Buy” and an average price target of $286.38.

About Manhattan Associates

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.