Illinois Municipal Retirement Fund Has $969,000 Stake in Manhattan Associates, Inc. $MANH

Illinois Municipal Retirement Fund trimmed its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 34.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,277 shares of the software maker’s stock after selling 3,764 shares during the period. Illinois Municipal Retirement Fund’s holdings in Manhattan Associates were worth $969,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of Manhattan Associates by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker’s stock worth $305,199,000 after purchasing an additional 88,005 shares in the last quarter. MUFG Securities EMEA plc acquired a new position in Manhattan Associates during the fourth quarter worth $6,066,000. John G Ullman & Associates Inc. bought a new position in Manhattan Associates in the fourth quarter valued at $2,106,000. VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in Manhattan Associates by 30.6% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 187,555 shares of the software maker’s stock valued at $32,505,000 after purchasing an additional 43,955 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in Manhattan Associates by 771.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 63,117 shares of the software maker’s stock valued at $10,939,000 after buying an additional 55,877 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Trading Down 6.3%

Shares of MANH opened at $149.11 on Thursday. The company’s fifty day simple moving average is $145.07 and its 200 day simple moving average is $145.18. Manhattan Associates, Inc. has a 1-year low of $119.06 and a 1-year high of $247.22. The company has a market cap of $8.82 billion, a price-to-earnings ratio of 41.77 and a beta of 0.97.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, April 21st. The software maker reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.14. Manhattan Associates had a net margin of 19.68% and a return on equity of 78.13%. The firm had revenue of $282.21 million during the quarter, compared to analysts’ expectations of $273.70 million. During the same quarter last year, the company posted $1.19 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, research analysts forecast that Manhattan Associates, Inc. will post 3.72 earnings per share for the current year.

Insider Activity

In other news, EVP James Stewart Gantt sold 7,300 shares of the company’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $139.25, for a total value of $1,016,525.00. Following the sale, the executive vice president directly owned 60,815 shares of the company’s stock, valued at approximately $8,468,488.75. This represents a 10.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric Andrew Clark sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $146.77, for a total transaction of $146,770.00. Following the completion of the sale, the chief executive officer owned 92,638 shares of the company’s stock, valued at $13,596,479.26. This trade represents a 1.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.84% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MANH has been the topic of several analyst reports. Barclays cut their price target 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. Robert W. Baird raised their price objective on Manhattan Associates from $183.00 to $186.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Stifel Nicolaus set a $200.00 target price on Manhattan Associates in a research report on Wednesday, May 20th. Rothschild & Co Redburn set a $145.00 target price on Manhattan Associates in a report on Thursday, April 16th. Finally, DA Davidson reissued a “buy” rating and set a $200.00 price target on shares of Manhattan Associates in a research report on Wednesday, May 20th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $201.00.

Manhattan Associates Company 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.