Illinois Municipal Retirement Fund Sells 3,764 Shares of Manhattan Associates, Inc. $MANH

Illinois Municipal Retirement Fund reduced its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 34.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,277 shares of the software maker’s stock after selling 3,764 shares during the period. Illinois Municipal Retirement Fund’s holdings in Manhattan Associates were worth $969,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Manhattan Associates by 72.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,245 shares of the software maker’s stock valued at $2,124,000 after buying an additional 5,128 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Manhattan Associates by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 500,068 shares of the software maker’s stock valued at $86,532,000 after acquiring an additional 41,571 shares during the period. Empowered Funds LLC bought a new position in Manhattan Associates in the 1st quarter valued at about $987,000. Focus Partners Wealth lifted its position in Manhattan Associates by 181.4% during the first quarter. Focus Partners Wealth now owns 2,400 shares of the software maker’s stock worth $415,000 after acquiring an additional 1,547 shares during the last quarter. Finally, Sivia Capital Partners LLC acquired a new stake in Manhattan Associates during the second quarter worth approximately $446,000. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Stock Down 6.3%

NASDAQ MANH opened at $149.11 on Thursday. The firm has a 50-day moving average price of $145.07 and a two-hundred day moving average price of $145.18. Manhattan Associates, Inc. has a 12-month low of $119.06 and a 12-month high of $247.22. The company has a market capitalization of $8.82 billion, a P/E ratio of 41.77 and a beta of 0.97.

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

Insider Activity at Manhattan Associates

In other Manhattan Associates news, CEO Eric Andrew Clark sold 1,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $146.77, for a total transaction of $146,770.00. Following the transaction, the chief executive officer owned 92,638 shares in the company, valued at $13,596,479.26. This trade represents a 1.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Stewart Gantt sold 7,300 shares of Manhattan Associates 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 directly owned 60,815 shares of the company’s stock, valued at $8,468,488.75. This represents a 10.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

MANH has been the topic of several research reports. Weiss Ratings raised Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Wall Street Zen cut Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Citigroup boosted their price target on Manhattan Associates from $177.00 to $193.00 and gave the company a “buy” rating in a research note on Tuesday. Rothschild & Co Redburn set a $145.00 price objective on Manhattan Associates in a report on Thursday, April 16th. Finally, Barclays lowered their price objective on Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a research report on Friday, May 29th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $201.00.

Manhattan Associates 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.