New York State Common Retirement Fund Sells 79,794 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

New York State Common Retirement Fund lowered its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 23.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 261,292 shares of the software maker’s stock after selling 79,794 shares during the period. New York State Common Retirement Fund’s holdings in Manhattan Associates were worth $73,522,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MANH. Vanguard Group Inc. boosted its position in Manhattan Associates by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 6,671,321 shares of the software maker’s stock valued at $1,669,365,000 after buying an additional 58,905 shares during the period. TD Asset Management Inc boosted its holdings in shares of Manhattan Associates by 10.5% during the first quarter. TD Asset Management Inc now owns 607,167 shares of the software maker’s stock worth $151,931,000 after purchasing an additional 57,859 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Manhattan Associates by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker’s stock worth $149,023,000 after purchasing an additional 2,156 shares during the last quarter. RGM Capital LLC grew its stake in shares of Manhattan Associates by 4.1% in the second quarter. RGM Capital LLC now owns 583,037 shares of the software maker’s stock worth $143,824,000 after purchasing an additional 23,000 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in Manhattan Associates by 0.3% during the 1st quarter. Bessemer Group Inc. now owns 561,901 shares of the software maker’s stock valued at $140,604,000 after purchasing an additional 1,757 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Raymond James lifted their price target on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Loop Capital upped 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. DA Davidson raised their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Robert W. Baird boosted their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Manhattan Associates currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.38.

Manhattan Associates Stock Performance

Shares of MANH opened at $264.35 on Friday. Manhattan Associates, Inc. has a fifty-two week low of $198.45 and a fifty-two week high of $307.50. The firm’s 50-day simple moving average is $275.85 and its two-hundred day simple moving average is $248.10. The stock has a market cap of $16.15 billion, a PE ratio of 75.10 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.29. The company had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.79 EPS. Equities research analysts predict that Manhattan Associates, Inc. will post 3.4 EPS for the current 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.