BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 60.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,791 shares of the software maker’s stock after buying an additional 4,441 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Manhattan Associates were worth $2,909,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Corient Private Wealth LLC grew its holdings in shares of Manhattan Associates by 88.7% during the fourth quarter. Corient Private Wealth LLC now owns 4,368 shares of the software maker’s stock valued at $941,000 after buying an additional 2,053 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Manhattan Associates by 18.1% during the 4th quarter. Hsbc Holdings PLC now owns 75,242 shares of the software maker’s stock valued at $16,219,000 after purchasing an additional 11,546 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of Manhattan Associates by 4.6% in the 4th quarter. Stifel Financial Corp now owns 59,921 shares of the software maker’s stock worth $12,902,000 after purchasing an additional 2,608 shares in the last quarter. Allianz Asset Management GmbH raised its stake in shares of Manhattan Associates by 40.1% in the fourth quarter. Allianz Asset Management GmbH now owns 85,649 shares of the software maker’s stock worth $18,442,000 after purchasing an additional 24,502 shares during the last quarter. Finally, Bank of Nova Scotia lifted its holdings in shares of Manhattan Associates by 101.8% during the fourth quarter. Bank of Nova Scotia now owns 2,971 shares of the software maker’s stock valued at $640,000 after purchasing an additional 1,499 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Price Performance

Shares of MANH stock opened at $280.25 on Friday. The company has a market cap of $17.25 billion, a price-to-earnings ratio of 91.58 and a beta of 1.50. Manhattan Associates, Inc. has a 1 year low of $182.97 and a 1 year high of $287.63. The firm has a fifty day moving average price of $258.44 and a 200-day moving average price of $241.32.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.22. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The business had revenue of $265.30 million during the quarter, compared to analyst estimates of $255.83 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. Manhattan Associates’s revenue for the quarter was up 14.8% on a year-over-year basis. Equities research analysts expect that Manhattan Associates, Inc. will post 3.01 EPS for the current year.

Insider Buying and Selling

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total value of $1,539,000.00. Following the completion of the transaction, the executive vice president now directly owns 46,287 shares in the company, valued at $11,872,615.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on MANH. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Citigroup boosted their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a report on Wednesday. Loop Capital lifted their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, DA Davidson increased their price target on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $264.57.

About Manhattan Associates

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.