Principal Financial Group Inc. Grows Stock Position in Manhattan Associates, Inc. $MANH

Principal Financial Group Inc. boosted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 4.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 152,407 shares of the software maker’s stock after acquiring an additional 6,076 shares during the period. Principal Financial Group Inc. owned 0.26% of Manhattan Associates worth $20,288,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Manhattan Associates by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 6,957,028 shares of the software maker’s stock valued at $1,205,723,000 after purchasing an additional 136,708 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in shares of Manhattan Associates by 35.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker’s stock worth $447,182,000 after purchasing an additional 671,589 shares during the period. AQR Capital Management LLC grew its holdings in shares of Manhattan Associates by 6.9% during the 4th quarter. AQR Capital Management LLC now owns 2,219,539 shares of the software maker’s stock worth $384,668,000 after purchasing an additional 142,407 shares during the period. Morgan Stanley increased its position in shares of Manhattan Associates by 2.5% during the 4th quarter. Morgan Stanley now owns 2,178,422 shares of the software maker’s stock worth $377,543,000 after purchasing an additional 53,037 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Manhattan Associates by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker’s stock valued at $305,199,000 after buying an additional 88,005 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MANH has been the topic of a number of recent analyst reports. Rothschild & Co Redburn set a $145.00 target price on shares of Manhattan Associates in a research report on Thursday, April 16th. DA Davidson reiterated a “buy” rating and set a $200.00 price target on shares of Manhattan Associates in a research report on Wednesday, May 20th. Barclays reduced their price target on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Robert W. Baird upped their price objective on shares of Manhattan Associates from $183.00 to $186.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings raised shares of Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Manhattan Associates has an average rating of “Moderate Buy” and a consensus price target of $201.00.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 7,300 shares of the business’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $139.25, for a total value of $1,016,525.00. Following the completion of the transaction, the executive vice president owned 60,815 shares in the company, valued at $8,468,488.75. The trade was a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Eric Andrew Clark sold 1,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $146.77, for a total value of $146,770.00. Following the sale, the chief executive officer directly owned 92,638 shares in the company, valued at $13,596,479.26. This represents a 1.07% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.84% of the company’s stock.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock opened at $159.12 on Wednesday. The business has a 50-day moving average of $144.60 and a 200 day moving average of $145.35. Manhattan Associates, Inc. has a 12 month low of $119.06 and a 12 month high of $247.22. The stock has a market capitalization of $9.42 billion, a price-to-earnings ratio of 44.57 and a beta of 0.97.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, April 21st. The software maker reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.14. The company had revenue of $282.21 million for the quarter, compared to analyst estimates of $273.70 million. Manhattan Associates had a net margin of 19.68% and a return on equity of 78.13%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.19 earnings per share. Equities research analysts anticipate that Manhattan Associates, Inc. will post 3.72 earnings per share for the current year.

Manhattan Associates Company Profile

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.