South Dakota Investment Council Invests $624,000 in Manhattan Associates, Inc. (NASDAQ:MANH)

South Dakota Investment Council acquired a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,900 shares of the software maker’s stock, valued at approximately $624,000.

Several other institutional investors and hedge funds have also made changes to their positions in MANH. California Public Employees Retirement System boosted its position in shares of Manhattan Associates by 184.3% during the 3rd quarter. California Public Employees Retirement System now owns 352,665 shares of the software maker’s stock worth $69,708,000 after acquiring an additional 228,618 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Manhattan Associates by 958.3% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 128,574 shares of the software maker’s stock valued at $25,414,000 after purchasing an additional 116,425 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Manhattan Associates by 629.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 85,728 shares of the software maker’s stock valued at $16,945,000 after purchasing an additional 73,975 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Manhattan Associates by 42.3% in the 3rd quarter. Royal Bank of Canada now owns 241,427 shares of the software maker’s stock valued at $47,720,000 after purchasing an additional 71,725 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Manhattan Associates by 48.0% in the 3rd quarter. Swiss National Bank now owns 199,820 shares of the software maker’s stock valued at $39,496,000 after purchasing an additional 64,800 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 680 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total transaction of $169,211.20. Following the sale, the executive vice president now owns 57,093 shares in the company, valued at approximately $14,207,022.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction, the chief executive officer now owns 242,153 shares of the company’s stock, valued at approximately $59,988,562.69. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP James Stewart Gantt sold 680 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total value of $169,211.20. Following the transaction, the executive vice president now directly owns 57,093 shares in the company, valued at approximately $14,207,022.12. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Truist Financial boosted 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 boosted 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 price objective on Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday. DA Davidson raised 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. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $225.00 price objective on shares of Manhattan Associates in a research note on Wednesday. Two 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, Manhattan Associates has a consensus rating of “Moderate Buy” and a consensus target price of $234.86.

Manhattan Associates Trading Up 1.0 %

NASDAQ MANH opened at $208.30 on Friday. The business’s 50 day moving average is $245.12 and its two-hundred day moving average is $226.92. Manhattan Associates, Inc. has a 12-month low of $163.43 and a 12-month high of $266.94. The stock has a market capitalization of $12.83 billion, a price-to-earnings ratio of 68.07 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.23. The business 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 85.28% and a net margin of 19.91%. Equities analysts forecast that Manhattan Associates, Inc. will post 2.81 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.