Retirement Systems of Alabama Has $16.60 Million Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Retirement Systems of Alabama grew its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 0.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,106 shares of the software maker’s stock after acquiring an additional 106 shares during the quarter. Retirement Systems of Alabama’s holdings in Manhattan Associates were worth $16,602,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MANH. Blue Trust Inc. raised its stake in Manhattan Associates by 259.4% during the fourth quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock worth $25,000 after acquiring an additional 83 shares in the last quarter. Bear Mountain Capital Inc. acquired a new position in Manhattan Associates during the fourth quarter worth about $26,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Manhattan Associates during the fourth quarter worth about $26,000. Lindbrook Capital LLC raised its stake in Manhattan Associates by 28.8% during the fourth quarter. Lindbrook Capital LLC now owns 206 shares of the software maker’s stock worth $44,000 after acquiring an additional 46 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Manhattan Associates by 25.9% during the fourth quarter. UMB Bank n.a. now owns 282 shares of the software maker’s stock worth $61,000 after purchasing an additional 58 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

MANH has been the topic of several research reports. DA Davidson upgraded Manhattan Associates from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $220.00 to $240.00 in a report on Thursday, April 25th. Rosenblatt Securities restated a “neutral” rating and set a $225.00 price target on shares of Manhattan Associates in a report on Wednesday, April 24th. Citigroup reduced their target price on Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Raymond James upped 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. Finally, William Blair reiterated a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $234.86.

Insiders Place Their Bets

In other news, CEO Eddie Capel sold 10,897 shares of the company’s stock in a transaction that occurred 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 directly owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Eddie Capel sold 10,897 shares of the company’s stock in a transaction that occurred 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 directly owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James Stewart Gantt sold 680 shares of the company’s stock in a transaction that occurred 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 $14,207,022.12. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $206.06 on Wednesday. The stock has a market capitalization of $12.69 billion, a price-to-earnings ratio of 67.34 and a beta of 1.44. Manhattan Associates, Inc. has a 52-week low of $165.37 and a 52-week high of $266.94. The stock’s 50 day moving average price is $242.96 and its two-hundred day moving average price is $227.07.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.23. The firm 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%. On average, equities research analysts forecast that Manhattan Associates, Inc. will post 2.72 EPS for the current 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.