California Public Employees Retirement System Buys 8,811 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

California Public Employees Retirement System grew its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 361,476 shares of the software maker’s stock after purchasing an additional 8,811 shares during the period. California Public Employees Retirement System’s holdings in Manhattan Associates were worth $77,833,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in Manhattan Associates by 259.4% during the 4th quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock worth $25,000 after purchasing an additional 83 shares in the last quarter. Bear Mountain Capital Inc. bought a new position in shares of Manhattan Associates in the fourth quarter valued at approximately $26,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Manhattan Associates in the fourth quarter valued at approximately $26,000. Lindbrook Capital LLC grew its holdings in shares of Manhattan Associates by 28.8% in the fourth quarter. Lindbrook Capital LLC now owns 206 shares of the software maker’s stock valued at $44,000 after acquiring an additional 46 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Manhattan Associates by 474.4% in the third quarter. UMB Bank n.a. now owns 224 shares of the software maker’s stock valued at $44,000 after acquiring an additional 185 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MANH shares. Truist Financial upped their target price on Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Raymond James upped their target price on Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Citigroup reduced their target price on Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday. Rosenblatt Securities reiterated a “neutral” rating and issued a $225.00 price objective on shares of Manhattan Associates in a research note on Wednesday. Finally, DA Davidson upgraded Manhattan Associates from a “neutral” rating to a “buy” rating and upped their price objective for the company from $220.00 to $240.00 in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $234.86.

Insiders Place Their Bets

In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the sale, the chief executive officer now owns 242,153 shares in the company, valued at $59,988,562.69. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, 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 transaction of $2,699,513.81. Following the completion of the sale, the chief executive officer now owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP James Stewart Gantt sold 680 shares of Manhattan Associates stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total value of $169,211.20. Following the sale, the executive vice president now directly owns 57,093 shares of the company’s stock, valued at approximately $14,207,022.12. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Manhattan Associates Price Performance

NASDAQ:MANH opened at $206.32 on Thursday. The company has a market cap of $12.70 billion, a P/E ratio of 67.43 and a beta of 1.44. The stock’s fifty day moving average price is $245.97 and its two-hundred day moving average price is $227.06. Manhattan Associates, Inc. has a 1 year low of $152.32 and a 1 year high of $266.94.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.23. The firm had revenue of $238.26 million for the quarter, compared to the consensus estimate of $223.99 million. Manhattan Associates had a return on equity of 87.22% and a net margin of 19.91%. On average, analysts expect that Manhattan Associates, Inc. will post 2.78 earnings per share for the current fiscal 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.