Louisiana State Employees Retirement System Sells 400 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Louisiana State Employees Retirement System decreased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,000 shares of the software maker’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Manhattan Associates were worth $4,783,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Tobam bought a new position in shares of Manhattan Associates in the first quarter worth $25,000. Innealta Capital LLC bought a new position in shares of Manhattan Associates in the second quarter worth $26,000. International Assets Investment Management LLC bought a new position in shares of Manhattan Associates in the second quarter worth $27,000. DT Investment Partners LLC bought a new position in Manhattan Associates in the second quarter valued at about $31,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Manhattan Associates in the second quarter valued at about $31,000. Institutional investors own 98.45% of the company’s stock.

Insider Buying and Selling

In related news, EVP James Stewart Gantt sold 6,000 shares of Manhattan Associates stock in a transaction that occurred 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 $11,872,615.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is owned by insiders.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $275.70 on Friday. The stock’s 50 day moving average is $274.95 and its 200 day moving average is $247.04. The firm has a market cap of $16.89 billion, a P/E ratio of 78.32 and a beta of 1.50. Manhattan Associates, Inc. has a one year low of $186.77 and a one year high of $307.50.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data 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 company had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a return on equity of 86.65% and a net margin of 21.38%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 earnings per share. Equities analysts anticipate that Manhattan Associates, Inc. will post 3.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MANH has been the topic of a number of recent analyst reports. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Citigroup lifted their target price on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Loop Capital lifted their target price on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Robert W. Baird lifted their target price on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Truist Financial lifted their target price on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.38.

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.