New York State Teachers Retirement System Cuts Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

New York State Teachers Retirement System cut its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 5.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 73,753 shares of the software maker’s stock after selling 4,010 shares during the quarter. New York State Teachers Retirement System owned approximately 0.12% of Manhattan Associates worth $20,753,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tobam purchased a new position in shares of Manhattan Associates in the 1st quarter valued at $25,000. Innealta Capital LLC purchased a new stake in shares of Manhattan Associates during the second quarter valued at about $26,000. International Assets Investment Management LLC bought a new stake in shares of Manhattan Associates in the 2nd quarter valued at about $27,000. DT Investment Partners LLC bought a new position in shares of Manhattan Associates during the 2nd quarter worth approximately $31,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Manhattan Associates in the second quarter valued at approximately $31,000. 98.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MANH has been the topic of a number of recent analyst reports. DA Davidson upped their price target on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Raymond James increased their price target on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Loop Capital lifted their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, Truist Financial boosted their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Manhattan Associates has an average rating of “Moderate Buy” and an average price target of $286.38.

Manhattan Associates Price Performance

MANH stock opened at $264.35 on Friday. The company has a market capitalization of $16.15 billion, a P/E ratio of 75.10 and a beta of 1.50. Manhattan Associates, Inc. has a 12 month low of $198.45 and a 12 month high of $307.50. The firm’s fifty day simple moving average is $275.85 and its 200-day simple moving average is $248.10.

Manhattan Associates (NASDAQ:MANH) last announced 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 company had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the firm earned $0.79 EPS. As a group, sell-side analysts forecast that Manhattan Associates, Inc. will post 3.4 earnings per share for the current year.

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.