California Public Employees Retirement System Buys 8,811 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

California Public Employees Retirement System raised its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 361,476 shares of the software maker’s stock after purchasing an additional 8,811 shares during the quarter. California Public Employees Retirement System owned approximately 0.59% of Manhattan Associates worth $77,833,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of MANH. CWM LLC grew its stake in Manhattan Associates by 22.0% in the third quarter. CWM LLC now owns 997 shares of the software maker’s stock valued at $197,000 after purchasing an additional 180 shares in the last quarter. AE Wealth Management LLC grew its stake in Manhattan Associates by 119.8% in the third quarter. AE Wealth Management LLC now owns 3,271 shares of the software maker’s stock valued at $647,000 after purchasing an additional 1,783 shares in the last quarter. IFP Advisors Inc grew its stake in Manhattan Associates by 6.4% in the third quarter. IFP Advisors Inc now owns 1,250 shares of the software maker’s stock valued at $247,000 after purchasing an additional 75 shares in the last quarter. Ritholtz Wealth Management bought a new position in Manhattan Associates in the third quarter valued at approximately $245,000. Finally, Global Retirement Partners LLC grew its stake in Manhattan Associates by 59.2% in the third quarter. Global Retirement Partners LLC now owns 581 shares of the software maker’s stock valued at $116,000 after purchasing an additional 216 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Manhattan Associates news, 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 owns 57,093 shares in the company, valued at approximately $14,207,022.12. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Manhattan Associates news, 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 owns 57,093 shares in the company, valued at approximately $14,207,022.12. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was 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 owns 242,153 shares in the company, valued at approximately $59,988,562.69. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Manhattan Associates Trading Down 10.5 %

NASDAQ:MANH opened at $206.32 on Thursday. The stock has a market cap of $12.70 billion, a P/E ratio of 67.43 and a beta of 1.44. The stock has a 50 day simple moving average of $245.97 and a 200 day simple moving average of $227.06. Manhattan Associates, Inc. has a 1-year low of $152.32 and a 1-year high of $266.94.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.23. The business had revenue of $238.26 million during the quarter, compared to analysts’ expectations of $223.99 million. Manhattan Associates had a return on equity of 87.22% and a net margin of 19.91%. As a group, sell-side analysts forecast that Manhattan Associates, Inc. will post 2.78 EPS for the current year.

Analysts Set New Price Targets

MANH has been the subject of a number of recent analyst reports. Raymond James raised their price objective on Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $225.00 price objective on shares of Manhattan Associates in a research report on Wednesday. Citigroup cut their price objective on Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday. DA Davidson raised Manhattan Associates from a “neutral” rating to a “buy” rating and raised their price objective for the company from $220.00 to $240.00 in a research report on Thursday. Finally, Truist Financial raised their price objective on Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $234.86.

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.