Alaska Permanent Fund Corp Grows Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Alaska Permanent Fund Corp grew its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 10.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,879 shares of the software maker’s stock after buying an additional 1,239 shares during the period. Alaska Permanent Fund Corp’s holdings in Manhattan Associates were worth $2,773,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MANH. California Public Employees Retirement System increased its position in Manhattan Associates by 184.3% during the third 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Manhattan Associates by 958.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 128,574 shares of the software maker’s stock worth $25,414,000 after buying an additional 116,425 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in Manhattan Associates by 629.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 85,728 shares of the software maker’s stock worth $16,945,000 after buying an additional 73,975 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Manhattan Associates by 42.3% during the third quarter. Royal Bank of Canada now owns 241,427 shares of the software maker’s stock worth $47,720,000 after purchasing an additional 71,725 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Manhattan Associates by 48.0% during the third quarter. Swiss National Bank now owns 199,820 shares of the software maker’s stock worth $39,496,000 after purchasing an additional 64,800 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

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 transaction of $2,699,513.81. Following the transaction, the chief executive officer now owns 242,153 shares in the company, valued at $59,988,562.69. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Eddie Capel sold 10,897 shares of Manhattan Associates stock in a transaction dated 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 directly owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP James Stewart Gantt sold 680 shares of Manhattan Associates stock in a transaction dated Tuesday, February 6th. The stock was 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 in the company, valued at $14,207,022.12. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Citigroup decreased their price objective on Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday. Raymond James raised their price objective on Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Rosenblatt Securities restated a “neutral” rating and set a $225.00 price objective on shares of Manhattan Associates in a report on Wednesday. Finally, Truist Financial raised their price objective on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $225.57.

Manhattan Associates Stock Performance

Manhattan Associates stock traded down $24.31 during midday trading on Wednesday, reaching $206.32. The stock had a trading volume of 1,468,052 shares, compared to its average volume of 384,078. Manhattan Associates, Inc. has a twelve month low of $152.32 and a twelve month high of $266.94. The stock has a market capitalization of $12.70 billion, a PE ratio of 73.59 and a beta of 1.44. The stock’s 50-day simple moving average is $245.97 and its 200 day simple moving average is $227.06.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.23. The company had revenue of $238.26 million for the quarter, compared to analysts’ expectations of $223.99 million. Manhattan Associates had a return on equity of 84.08% and a net margin of 19.01%. Equities analysts predict 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.