Arizona State Retirement System Grows Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Posted by Defense World Staff on May 10th, 2023

Arizona State Retirement System increased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH – Get Rating) by 3.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,697 shares of the software maker’s stock after purchasing an additional 546 shares during the quarter. Arizona State Retirement System’s holdings in Manhattan Associates were worth $2,148,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MANH. Private Advisor Group LLC increased its holdings in shares of Manhattan Associates by 19.6% during the first quarter. Private Advisor Group LLC now owns 1,911 shares of the software maker’s stock valued at $265,000 after purchasing an additional 313 shares during the period. PNC Financial Services Group Inc. boosted its position in Manhattan Associates by 7.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,518 shares of the software maker’s stock worth $349,000 after acquiring an additional 174 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of Manhattan Associates by 8.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 34,926 shares of the software maker’s stock valued at $4,978,000 after buying an additional 2,644 shares during the last quarter. Raymond James Trust N.A. lifted its holdings in shares of Manhattan Associates by 6.2% during the 1st quarter. Raymond James Trust N.A. now owns 2,841 shares of the software maker’s stock valued at $394,000 after buying an additional 166 shares during the last quarter. Finally, Aviva PLC raised its stake in shares of Manhattan Associates by 6.1% in the 1st quarter. Aviva PLC now owns 16,701 shares of the software maker’s stock valued at $2,317,000 after acquiring an additional 965 shares in the last quarter. 96.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MANH has been the topic of several recent analyst reports. Rosenblatt Securities lifted their price target on Manhattan Associates from $150.00 to $160.00 in a research report on Wednesday, April 26th. StockNews.com initiated coverage on Manhattan Associates in a research note on Thursday, March 16th. They issued a “buy” rating on the stock. DA Davidson boosted their target price on Manhattan Associates from $145.00 to $160.00 in a research report on Wednesday, April 26th. Finally, Robert W. Baird increased their price target on Manhattan Associates from $168.00 to $184.00 in a report on Wednesday, April 26th.

Insider Activity

In related news, CEO Eddie Capel sold 42,678 shares of the firm’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $144.04, for a total transaction of $6,147,339.12. Following the sale, the chief executive officer now owns 207,422 shares of the company’s stock, valued at approximately $29,877,064.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Eddie Capel sold 42,678 shares of the business’s stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $144.04, for a total value of $6,147,339.12. Following the completion of the sale, the chief executive officer now directly owns 207,422 shares of the company’s stock, valued at approximately $29,877,064.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Bruce Richards sold 6,000 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $170.00, for a total value of $1,020,000.00. Following the completion of the sale, the senior vice president now directly owns 36,022 shares of the company’s stock, valued at $6,123,740. The disclosure for this sale can be found here. In the last quarter, insiders have sold 87,803 shares of company stock worth $13,714,600. Insiders own 0.85% of the company’s stock.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $168.91 on Wednesday. The stock’s fifty day moving average price is $153.26 and its two-hundred day moving average price is $135.69. Manhattan Associates, Inc. has a one year low of $106.02 and a one year high of $175.00. The firm has a market cap of $10.48 billion, a PE ratio of 77.48 and a beta of 1.58.

About Manhattan Associates

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Manhattan Associates, Inc engages in developing, selling, deploying, servicing, and maintaining software solutions. Its solutions focus on supply chains, inventory, and omnichannel for retailers, wholesalers, manufacturers, logistics providers and other organizations. It operates through the following geographical segments: The Americas, Europe, Middle East and Africa, and Asia Pacific.