New York State Common Retirement Fund Sells 54,868 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

New York State Common Retirement Fund decreased its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 15.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 293,994 shares of the software maker’s stock after selling 54,868 shares during the period. New York State Common Retirement Fund owned about 0.48% of Manhattan Associates worth $63,303,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Blue Trust Inc. increased its stake in Manhattan Associates by 259.4% in the fourth quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock valued at $25,000 after acquiring an additional 83 shares during the last quarter. Bear Mountain Capital Inc. bought a new position in shares of Manhattan Associates during the 4th quarter valued at about $26,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Manhattan Associates during the 4th quarter valued at about $26,000. UMB Bank n.a. raised its holdings in shares of Manhattan Associates by 474.4% during the 3rd quarter. UMB Bank n.a. now owns 224 shares of the software maker’s stock valued at $44,000 after buying an additional 185 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its position in Manhattan Associates by 28.8% in the 4th quarter. Lindbrook Capital LLC now owns 206 shares of the software maker’s stock worth $44,000 after buying an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Up 1.0 %

Shares of MANH opened at $230.63 on Wednesday. The stock has a market capitalization of $14.20 billion, a P/E ratio of 81.78 and a beta of 1.44. Manhattan Associates, Inc. has a twelve month low of $152.32 and a twelve month high of $266.94. The firm has a fifty day simple moving average of $245.97 and a two-hundred day simple moving average of $227.06.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.55 by $0.23. Manhattan Associates had a net margin of 19.01% and a return on equity of 84.08%. The firm had revenue of $238.26 million during the quarter, compared to the consensus estimate of $223.99 million. Sell-side analysts expect that Manhattan Associates, Inc. will post 2.78 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Raymond James lifted their price target on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Truist Financial lifted their target price on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Citigroup started coverage on shares of Manhattan Associates in a research report on Wednesday, March 13th. They set a “neutral” rating and a $260.00 price target for the company. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $225.00 price objective on shares of Manhattan Associates in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $231.29.

Insider Transactions at Manhattan Associates

In related news, EVP James Stewart Gantt sold 680 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total transaction of $169,211.20. Following the sale, the executive vice president now directly owns 57,093 shares in the company, valued at $14,207,022.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Manhattan Associates news, EVP James Stewart Gantt sold 680 shares of Manhattan Associates stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total value of $169,211.20. Following the completion of the transaction, the executive vice president now directly owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eddie Capel sold 10,897 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total value of $2,699,513.81. Following the transaction, the chief executive officer now directly owns 242,153 shares in the company, valued at $59,988,562.69. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

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.