New York State Teachers Retirement System Decreases Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

New York State Teachers Retirement System lowered its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 5.2% in the third quarter, Holdings Channel reports. The firm owned 73,753 shares of the software maker’s stock after selling 4,010 shares during the period. New York State Teachers Retirement System’s holdings in Manhattan Associates were worth $20,753,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of MANH. Tobam acquired a new position in Manhattan Associates in the 1st quarter valued at $25,000. Innealta Capital LLC purchased a new stake in shares of Manhattan Associates during the second quarter worth $26,000. International Assets Investment Management LLC acquired a new stake in shares of Manhattan Associates in the second quarter valued at about $27,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Manhattan Associates in the second quarter worth about $31,000. Finally, DT Investment Partners LLC acquired a new position in Manhattan Associates during the second quarter worth about $31,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MANH. Truist Financial raised their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Citigroup lifted their price objective on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Robert W. Baird upped their target price on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Raymond James raised their target price on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Loop Capital boosted their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $286.38.

Manhattan Associates Trading Up 0.4 %

Shares of NASDAQ:MANH opened at $264.35 on Friday. The company has a market capitalization of $16.15 billion, a price-to-earnings ratio of 75.10 and a beta of 1.50. Manhattan Associates, Inc. has a 12-month low of $198.45 and a 12-month high of $307.50. The business has a 50-day moving average price of $275.85 and a 200 day moving average price of $248.10.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. The business had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 EPS. As a group, equities research analysts predict that Manhattan Associates, Inc. will post 3.4 earnings per share for the current fiscal 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.