Retirement Systems of Alabama Grows Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Retirement Systems of Alabama grew its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 0.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,106 shares of the software maker’s stock after purchasing an additional 106 shares during the quarter. Retirement Systems of Alabama owned about 0.13% of Manhattan Associates worth $16,602,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MANH. Blue Trust Inc. increased its holdings in shares of Manhattan Associates by 259.4% during the 4th quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock worth $25,000 after buying an additional 83 shares during the last quarter. Bear Mountain Capital Inc. acquired a new stake in shares of Manhattan Associates during the 4th quarter worth approximately $26,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Manhattan Associates during the 4th quarter worth approximately $26,000. Lindbrook Capital LLC increased its holdings in shares of Manhattan Associates by 28.8% during 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. Finally, UMB Bank n.a. increased its holdings in shares of Manhattan Associates by 25.9% during the 4th quarter. UMB Bank n.a. now owns 282 shares of the software maker’s stock worth $61,000 after buying an additional 58 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analysts Set New Price Targets

MANH has been the subject of a number of recent analyst reports. William Blair restated a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Citigroup dropped their price target on shares of Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. Raymond James boosted their price target on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. DA Davidson raised shares of Manhattan Associates from a “neutral” rating to a “buy” rating and boosted their price target for the company from $220.00 to $240.00 in a research report on Thursday, April 25th. Finally, Truist Financial boosted their price target on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $234.86.

Manhattan Associates Price Performance

Shares of NASDAQ MANH opened at $206.06 on Wednesday. Manhattan Associates, Inc. has a 12-month low of $165.37 and a 12-month high of $266.94. The company has a market capitalization of $12.69 billion, a PE ratio of 67.34 and a beta of 1.44. The firm’s 50-day moving average is $242.96 and its two-hundred day moving average is $227.07.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.23. The business had revenue of $238.26 million for the quarter, compared to the consensus estimate of $223.99 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. On average, analysts forecast that Manhattan Associates, Inc. will post 2.72 EPS for the current fiscal year.

Insiders Place Their Bets

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

Manhattan Associates Company 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.