IFM Investors Pty Ltd Boosts Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

IFM Investors Pty Ltd lifted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 8.2% in the first quarter, HoldingsChannel reports. The fund owned 13,474 shares of the software maker’s stock after buying an additional 1,017 shares during the period. IFM Investors Pty Ltd’s holdings in Manhattan Associates were worth $3,372,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Manhattan Associates during the fourth quarter worth about $146,984,000. TD Asset Management Inc lifted its holdings in Manhattan Associates by 234.2% in the 4th quarter. TD Asset Management Inc now owns 549,308 shares of the software maker’s stock worth $118,277,000 after buying an additional 384,941 shares during the period. California Public Employees Retirement System grew its position in shares of Manhattan Associates by 184.3% in the 3rd quarter. California Public Employees Retirement System now owns 352,665 shares of the software maker’s stock worth $69,708,000 after buying an additional 228,618 shares during the last quarter. Epoch Investment Partners Inc. increased its stake in shares of Manhattan Associates by 110.6% during the fourth quarter. Epoch Investment Partners Inc. now owns 369,352 shares of the software maker’s stock valued at $79,529,000 after buying an additional 193,951 shares during the period. Finally, Franklin Resources Inc. raised its holdings in shares of Manhattan Associates by 16.8% during the fourth quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker’s stock valued at $187,967,000 after acquiring an additional 125,541 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MANH shares. Truist Financial increased their target price on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. 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. Citigroup reduced their target price on shares of Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday. William Blair reissued a “market perform” rating on shares of Manhattan Associates in a research report on Wednesday. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $225.00 price objective on shares of Manhattan Associates in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average price target of $234.86.

Manhattan Associates Price Performance

MANH stock traded up $0.72 during trading on Friday, hitting $209.02. 456,441 shares of the stock traded hands, compared to its average volume of 421,997. The stock has a market cap of $12.87 billion, a price-to-earnings ratio of 68.31 and a beta of 1.44. Manhattan Associates, Inc. has a 1 year low of $164.55 and a 1 year high of $266.94. The firm’s 50 day moving average is $244.34 and its two-hundred day moving average is $226.79.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.23. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. The firm had revenue of $238.26 million for the quarter, compared to analysts’ expectations of $223.99 million. As a group, analysts anticipate that Manhattan Associates, Inc. will post 2.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 242,153 shares of the company’s stock, valued at approximately $59,988,562.69. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP James Stewart Gantt sold 680 shares of the 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 directly owns 57,093 shares of the company’s stock, valued at approximately $14,207,022.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Eddie Capel sold 10,897 shares of Manhattan Associates 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 completion of the sale, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at approximately $59,988,562.69. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

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.