Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 1.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,992 shares of the software maker’s stock after selling 1,320 shares during the quarter. Retirement Systems of Alabama’s holdings in Manhattan Associates were worth $18,746,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Tobam acquired a new position in shares of Manhattan Associates in the first quarter valued at approximately $25,000. Benjamin Edwards Inc. purchased a new stake in shares of Manhattan Associates during the first quarter worth $27,000. Contravisory Investment Management Inc. acquired a new stake in shares of Manhattan Associates in the first quarter valued at $31,000. DT Investment Partners LLC acquired a new stake in shares of Manhattan Associates in the second quarter valued at $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Manhattan Associates in the second quarter valued at $37,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Price Performance

NASDAQ:MANH opened at $262.51 on Friday. The firm has a market capitalization of $16.16 billion, a PE ratio of 85.79 and a beta of 1.50. The business’s fifty day moving average price is $244.65 and its 200 day moving average price is $238.40. Manhattan Associates, Inc. has a 12 month low of $182.97 and a 12 month high of $266.94.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.22. The company had revenue of $265.30 million for the quarter, compared to analyst estimates of $255.83 million. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.63 earnings per share. As a group, equities analysts anticipate that Manhattan Associates, Inc. will post 3.01 EPS for the current year.

Insiders Place Their Bets

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the transaction, the executive vice president now owns 46,287 shares of the company’s stock, valued at $11,872,615.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

MANH has been the topic of several analyst reports. Loop Capital increased their price objective on Manhattan Associates from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Redburn Atlantic initiated coverage on Manhattan Associates in a research note on Tuesday, May 14th. They issued a “buy” rating and a $260.00 price objective on the stock. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Citigroup increased their price objective on Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a research note on Friday, June 28th. Finally, DA Davidson increased their price objective on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Manhattan Associates presently has an average rating of “Moderate Buy” and a consensus price target of $257.43.

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.