Canada Pension Plan Investment Board Acquires New Stake in Manhattan Associates, Inc. $MANH

Canada Pension Plan Investment Board bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 69,200 shares of the software maker’s stock, valued at approximately $9,636,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Manhattan Associates by 448.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker’s stock valued at $28,000 after purchasing an additional 112 shares in the last quarter. BNP Paribas acquired a new position in shares of Manhattan Associates during the fourth quarter worth about $39,000. TD Private Client Wealth LLC grew its holdings in shares of Manhattan Associates by 83.8% during the fourth quarter. TD Private Client Wealth LLC now owns 239 shares of the software maker’s stock worth $41,000 after buying an additional 109 shares in the last quarter. Leonteq Securities AG bought a new position in shares of Manhattan Associates during the fourth quarter worth about $44,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Manhattan Associates in the 4th quarter valued at approximately $49,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, CEO Eric Andrew Clark sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total transaction of $593,280.00. Following the completion of the transaction, the chief executive officer owned 89,638 shares of the company’s stock, valued at approximately $17,726,810.88. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Stewart Gantt sold 5,139 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the completion of the transaction, the executive vice president directly owned 55,676 shares of the company’s stock, valued at $10,886,328.28. This trade represents a 8.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 9,139 shares of company stock valued at $1,744,879 over the last 90 days. Corporate insiders own 0.84% of the company’s stock.

Manhattan Associates Stock Down 0.2%

Shares of MANH stock opened at $223.28 on Friday. The firm has a 50 day moving average price of $173.96 and a two-hundred day moving average price of $151.13. The company has a market capitalization of $13.02 billion, a PE ratio of 63.98 and a beta of 0.93. Manhattan Associates, Inc. has a 12-month low of $119.06 and a 12-month high of $227.03.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.07. The company had revenue of $297.79 million during the quarter, compared to the consensus estimate of $289.03 million. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.31 earnings per share. As a group, research analysts expect that Manhattan Associates, Inc. will post 3.87 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Morgan Stanley set a $180.00 target price on Manhattan Associates in a research note on Wednesday, July 29th. Weiss Ratings upgraded shares of Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Barclays cut their price objective on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a research report on Friday, May 29th. Stifel Nicolaus increased their target price on shares of Manhattan Associates from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Finally, DA Davidson raised their target price on shares of Manhattan Associates from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Manhattan Associates presently has an average rating of “Moderate Buy” and an average target price of $213.40.

Manhattan Associates Profile

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.