Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 37.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,250 shares of the software maker’s stock after selling 12,539 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Manhattan Associates were worth $5,242,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MANH. Private Advisor Group LLC purchased a new stake in Manhattan Associates in the fourth quarter valued at $270,000. Principal Securities Inc. purchased a new stake in shares of Manhattan Associates in the 4th quarter valued at about $93,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Manhattan Associates by 15.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 29,265 shares of the software maker’s stock valued at $5,983,000 after purchasing an additional 3,922 shares during the period. Panagora Asset Management Inc. grew its stake in Manhattan Associates by 54.6% during the 4th quarter. Panagora Asset Management Inc. now owns 2,751 shares of the software maker’s stock worth $592,000 after buying an additional 971 shares during the last quarter. Finally, Norges Bank acquired a new position in Manhattan Associates during the fourth quarter worth approximately $146,984,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MANH. Citigroup increased their price target on shares of Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. DA Davidson boosted their price target on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Loop Capital increased their price objective on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $260.29.

Insider Activity

In related news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total value of $1,539,000.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.72% of the company’s stock.

Manhattan Associates Trading Up 2.5 %

Shares of NASDAQ:MANH opened at $270.40 on Tuesday. The firm has a market cap of $16.65 billion, a price-to-earnings ratio of 88.37 and a beta of 1.50. The stock’s 50-day moving average price is $250.51 and its two-hundred day moving average price is $239.83. Manhattan Associates, Inc. has a 12-month low of $182.97 and a 12-month high of $270.58.

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

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.