The Commonwealth of Pennsylvania Public School Employees Retirement System has raised its investment in Manhattan Associates, Inc. (NASDAQ: MANH) by 6.8% during the second quarter of 2023. This increase follows the acquisition of an additional 989 shares, bringing the total holdings to 15,600 shares. As of the latest filing with the U.S. Securities and Exchange Commission (SEC), these shares are valued at approximately $3.08 million.
This development is part of a broader trend, as several institutional investors have recently adjusted their positions in Manhattan Associates. Notably, Allianz Asset Management GmbH boosted its holdings by 18.9% in the first quarter, acquiring 22,845 shares for a total of 143,687 shares, valued at $24.86 million. Similarly, the Virginia Retirement Systems purchased a new stake valued at about $27.07 million during the second quarter. Other investors, including Inspire Investing LLC and BNP Paribas Financial Markets, have also significantly increased their stakes, reflecting growing confidence in the software maker.
Analyst Ratings and Market Performance
Recent analyst reports indicate a mixed outlook for Manhattan Associates. Barclays reduced its price target from $244.00 to $239.00, maintaining an “overweight” rating. Morgan Stanley set a target price of $200.00 with an “equal weight” rating. Stifel Nicolaus also adjusted its price objective from $250.00 to $240.00, assigning a “buy” rating. Overall, the stock has received one Strong Buy rating, seven Buy ratings, and six Hold ratings, leading to an average rating of “Moderate Buy” with a target price of $222.42, according to MarketBeat data.
As of the last trading session, shares of Manhattan Associates opened at $171.50, reflecting a 0.3% decline. The company has a market capitalization of $10.33 billion and a price-to-earnings ratio of 48.86. Over the past year, the stock has reached a low of $140.81 and a high of $312.60.
Recent Earnings and Future Guidance
Manhattan Associates reported its latest quarterly earnings on October 21, 2023, revealing earnings per share (EPS) of $1.36, surpassing analysts’ expectations of $1.18. The company generated revenue of $275.80 million, exceeding the consensus estimate of $271.66 million. The firm recorded a net margin of 20.25% and a return on equity of 78.80%. Year-over-year, revenue increased by 3.4%, compared to $1.35 EPS in the same quarter the previous year.
Looking ahead, Manhattan Associates has set its fiscal year 2025 guidance at $4.950 to $4.970 EPS. Analysts project the company will achieve an EPS of 3.3 for the current fiscal year.
Founded in 1990, Manhattan Associates, Inc. specializes in developing software solutions for supply chain management, inventory control, and omni-channel operations. Its product offerings include Warehouse Management Solutions, Transportation Management Solutions, and Manhattan Active Omni, which facilitates order management and customer engagement across various platforms.
For those interested in further developments regarding Manhattan Associates and its stakeholders, HoldingsChannel.com provides detailed information on institutional holdings and insider trades.
