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

Public Employees Retirement Association of Colorado trimmed its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 12.7% during the first quarter, according to its most recent 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 owned approximately 0.16% of Manhattan Associates worth $24,753,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its stake in Manhattan Associates by 28.8% in the fourth quarter. Lindbrook Capital LLC now owns 206 shares of the software maker’s stock worth $44,000 after purchasing an additional 46 shares in the last quarter. Accurate Wealth Management LLC raised its position in shares of Manhattan Associates by 4.1% during the 1st quarter. Accurate Wealth Management LLC now owns 1,371 shares of the software maker’s stock valued at $343,000 after acquiring an additional 54 shares in the last quarter. UMB Bank n.a. raised its position 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 valued at $61,000 after acquiring an additional 58 shares in the last quarter. Janiczek Wealth Management LLC boosted its holdings in Manhattan Associates by 4.6% in the first quarter. Janiczek Wealth Management LLC now owns 1,492 shares of the software maker’s stock worth $373,000 after purchasing an additional 65 shares during the period. Finally, QRG Capital Management Inc. increased its stake in Manhattan Associates by 3.4% during the fourth quarter. QRG Capital Management Inc. now owns 2,424 shares of the software maker’s stock valued at $522,000 after purchasing an additional 80 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Loop Capital raised their price target on shares of Manhattan Associates from $250.00 to $265.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Rosenblatt Securities reiterated a “neutral” rating and set a $225.00 price target on shares of Manhattan Associates in a research report on Wednesday, April 24th. William Blair reissued a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. StockNews.com upgraded Manhattan Associates from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Finally, Redburn Atlantic assumed coverage on shares of Manhattan Associates in a research report on Tuesday, May 14th. They set a “buy” rating and a $260.00 price target for the company. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates presently has an average rating of “Moderate Buy” and a consensus price target of $257.43.

Manhattan Associates Stock Performance

Shares of MANH stock traded down $0.68 during midday trading on Monday, reaching $257.78. 248,175 shares of the company were exchanged, compared to its average volume of 426,431. The company’s 50 day moving average price is $233.36 and its two-hundred day moving average price is $234.87. The company has a market cap of $15.87 billion, a P/E ratio of 84.46 and a beta of 1.50. Manhattan Associates, Inc. has a 12 month low of $182.97 and a 12 month high of $266.94.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, topping 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 company had revenue of $265.30 million for the quarter, compared to the consensus estimate of $255.83 million. During the same quarter in the previous year, the business earned $0.63 EPS. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, sell-side analysts predict that Manhattan Associates, Inc. will post 3.01 earnings per share 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.