Ontario Teachers Pension Plan Board Has $728,000 Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Ontario Teachers Pension Plan Board lessened its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 38.4% in the third quarter, according to its most recent disclosure with the Securities & 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 reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Fiera Capital Corp acquired a new stake in Manhattan Associates in the 2nd quarter valued at $44,705,000. Squarepoint Ops LLC grew its position in shares of Manhattan Associates by 448.9% during the 2nd quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker’s stock valued at $39,629,000 after acquiring an additional 131,381 shares during the period. Allspring Global Investments Holdings LLC increased its position in Manhattan Associates by 118.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker’s stock worth $48,860,000 after buying an additional 94,283 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of Manhattan Associates by 27.2% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 385,311 shares of the software maker’s stock valued at $94,898,000 after purchasing an additional 82,420 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Manhattan Associates during the second quarter worth $19,606,000. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Trading Up 0.1 %

Shares of Manhattan Associates stock opened at $271.80 on Friday. The business’s 50-day moving average price is $280.59 and its 200-day moving average price is $253.88. The firm has a market capitalization of $16.60 billion, a PE ratio of 77.21 and a beta of 1.52. Manhattan Associates, Inc. has a 12 month low of $199.23 and a 12 month high of $307.50.

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 business had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 earnings per share. As a group, analysts predict that Manhattan Associates, Inc. will post 3.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on MANH shares. Loop Capital lifted their target price on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th. Raymond James increased their target price on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. DA Davidson lifted their price objective on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Truist Financial raised their price target on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday, October 11th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.