New York State Common Retirement Fund trimmed its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 23.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 261,292 shares of the software maker's stock after selling 79,794 shares during the quarter. New York State Common Retirement Fund owned approximately 0.42% of Manhattan Associates worth $73,522,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MANH. Tobam purchased a new position in Manhattan Associates in the first quarter valued at about $25,000. Innealta Capital LLC purchased a new stake in shares of Manhattan Associates during the 2nd quarter valued at approximately $26,000. International Assets Investment Management LLC purchased a new stake in shares of Manhattan Associates during the 2nd quarter valued at approximately $27,000. DT Investment Partners LLC purchased a new stake in shares of Manhattan Associates during the 2nd quarter valued at approximately $31,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Manhattan Associates during the 2nd quarter valued at approximately $31,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages recently commented on MANH. Raymond James upped their price target on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. StockNews.com cut shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Thursday, August 1st. Citigroup upped their price target on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a "neutral" rating in a research note on Wednesday, September 25th. Robert W. Baird upped their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an "outperform" rating in a research note on Tuesday, October 22nd. Finally, Loop Capital upped their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a "buy" rating in a research note on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $286.38.
Check Out Our Latest Stock Report on MANH
Manhattan Associates Trading Up 0.4 %
Shares of NASDAQ:MANH traded up $0.99 during trading on Friday, reaching $264.35. The company had a trading volume of 329,374 shares, compared to its average volume of 497,408. The company has a fifty day moving average of $275.85 and a two-hundred day moving average of $248.10. The stock has a market capitalization of $16.15 billion, a P/E ratio of 75.10 and a beta of 1.52. Manhattan Associates, Inc. has a 12 month low of $198.45 and a 12 month high of $307.50.
Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping analysts' consensus estimates of $1.06 by $0.29. The firm had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.79 EPS. As a group, equities research analysts predict that Manhattan Associates, Inc. will post 3.4 earnings per share for the current year.
Manhattan Associates Profile
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Free Report)
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.
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