Principal Financial Group Inc. Has $23.40 Million Stake in Manhattan Associates, Inc. (MANH)

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Principal Financial Group Inc. trimmed its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 0.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 558,754 shares of the software maker’s stock after selling 1,664 shares during the quarter. Principal Financial Group Inc. owned 0.84% of Manhattan Associates worth $23,400,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Carillon Tower Advisers Inc. acquired a new position in Manhattan Associates in the fourth quarter worth about $38,930,000. Brown Capital Management LLC grew its stake in Manhattan Associates by 10.4% in the fourth quarter. Brown Capital Management LLC now owns 7,845,670 shares of the software maker’s stock worth $388,674,000 after purchasing an additional 737,820 shares in the last quarter. Standard Life Aberdeen plc grew its stake in Manhattan Associates by 19.9% in the fourth quarter. Standard Life Aberdeen plc now owns 1,633,801 shares of the software maker’s stock worth $80,947,000 after purchasing an additional 270,604 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Manhattan Associates by 31.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,074,707 shares of the software maker’s stock worth $45,009,000 after purchasing an additional 254,159 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Manhattan Associates by 43.2% in the first quarter. Russell Investments Group Ltd. now owns 824,093 shares of the software maker’s stock worth $34,501,000 after purchasing an additional 248,651 shares in the last quarter.

Manhattan Associates opened at $49.68 on Tuesday, Marketbeat.com reports. The stock has a market capitalization of $3.32 billion, a P/E ratio of 28.88 and a beta of 1.23. Manhattan Associates, Inc. has a one year low of $39.10 and a one year high of $54.21.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, April 24th. The software maker reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.06. Manhattan Associates had a return on equity of 68.51% and a net margin of 19.07%. The company had revenue of $130.60 million during the quarter, compared to the consensus estimate of $129.92 million. During the same period in the previous year, the firm posted $0.42 earnings per share. Manhattan Associates’s quarterly revenue was down 9.0% compared to the same quarter last year. analysts anticipate that Manhattan Associates, Inc. will post 1.27 EPS for the current fiscal year.

In other Manhattan Associates news, CFO Dennis B. Story sold 16,280 shares of Manhattan Associates stock in a transaction that occurred on Friday, May 4th. The stock was sold at an average price of $43.13, for a total value of $702,156.40. Following the completion of the transaction, the chief financial officer now directly owns 63,060 shares in the company, valued at $2,719,777.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.99% of the company’s stock.

A number of equities analysts recently commented on MANH shares. TheStreet downgraded Manhattan Associates from a “b-” rating to a “c+” rating in a research note on Tuesday, February 20th. BidaskClub downgraded Manhattan Associates from a “hold” rating to a “sell” rating in a research note on Wednesday, February 28th. Finally, ValuEngine downgraded Manhattan Associates from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $60.00.

Manhattan Associates Profile

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 provides supply chain solutions, including distribution management, transportation management, and visibility solutions; omni-channel solutions; and inventory optimization and planning solutions.

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Institutional Ownership by Quarter for Manhattan Associates (NASDAQ:MANH)

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