Canada Pension Plan Investment Board Sells 3,700 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Canada Pension Plan Investment Board trimmed its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 5.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,900 shares of the software maker’s stock after selling 3,700 shares during the quarter. Canada Pension Plan Investment Board owned 0.10% of Manhattan Associates worth $15,023,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MANH. Vanguard Group Inc. lifted its holdings in Manhattan Associates by 0.9% during the first quarter. Vanguard Group Inc. now owns 6,671,321 shares of the software maker’s stock worth $1,669,365,000 after acquiring an additional 58,905 shares in the last quarter. TD Asset Management Inc grew its position in shares of Manhattan Associates by 10.5% in the 1st quarter. TD Asset Management Inc now owns 607,167 shares of the software maker’s stock valued at $151,931,000 after purchasing an additional 57,859 shares during the period. Bank of New York Mellon Corp increased its stake in Manhattan Associates by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker’s stock worth $149,023,000 after purchasing an additional 2,156 shares in the last quarter. Bessemer Group Inc. raised its holdings in Manhattan Associates by 0.3% during the 1st quarter. Bessemer Group Inc. now owns 561,901 shares of the software maker’s stock worth $140,604,000 after buying an additional 1,757 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Manhattan Associates by 2.0% in the first quarter. Principal Financial Group Inc. now owns 512,603 shares of the software maker’s stock valued at $128,269,000 after buying an additional 10,053 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

MANH opened at $281.28 on Tuesday. The business’s 50-day simple moving average is $253.77 and its 200 day simple moving average is $240.45. Manhattan Associates, Inc. has a 52-week low of $182.97 and a 52-week high of $282.52. The firm has a market capitalization of $17.32 billion, a PE ratio of 91.92 and a beta of 1.50.

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

Insider Activity

In other news, EVP James Stewart Gantt sold 6,000 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total value of $1,539,000.00. Following the sale, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Citigroup raised their price objective on shares of Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. Loop Capital lifted their price target on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. DA Davidson upped their price objective on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $260.29.

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.