Arizona State Retirement System reduced its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 9.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 36,236 shares of the software maker’s stock after selling 3,853 shares during the quarter. Arizona State Retirement System owned approximately 0.06% of Manhattan Associates worth $2,890,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Nuveen Asset Management LLC bought a new position in Manhattan Associates in the 2nd quarter worth approximately $18,288,000. First Trust Advisors LP increased its position in shares of Manhattan Associates by 101.4% during the third quarter. First Trust Advisors LP now owns 385,867 shares of the software maker’s stock valued at $31,128,000 after purchasing an additional 194,249 shares during the period. BlackRock Inc. increased its position in shares of Manhattan Associates by 2.2% during the second quarter. BlackRock Inc. now owns 6,325,561 shares of the software maker’s stock valued at $438,551,000 after purchasing an additional 137,409 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Manhattan Associates during the fourth quarter valued at approximately $10,287,000. Finally, Castleark Management LLC bought a new stake in shares of Manhattan Associates during the third quarter valued at approximately $7,648,000.
Shares of MANH opened at $85.46 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.22. Manhattan Associates, Inc. has a 12-month low of $47.83 and a 12-month high of $89.53. The firm has a market capitalization of $5.46 billion, a PE ratio of 58.53 and a beta of 1.47. The stock’s fifty day simple moving average is $82.15 and its 200-day simple moving average is $81.13.
A number of equities analysts have commented on the company. Zacks Investment Research lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Wednesday, December 25th. BidaskClub raised Manhattan Associates from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price objective on shares of Manhattan Associates in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Manhattan Associates has a consensus rating of “Buy” and an average target price of $92.00.
About Manhattan Associates
Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers, and other organizations. The company offers Manhattan SCALE, a portfolio of logistics execution solutions that provide trading partner management, yard management, optimization, warehouse management, and transportation execution services; and Manhattan Active, a set of enterprise and store omni-channel solutions.
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