Sumitomo Mitsui Trust Group Inc. Grows Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Sumitomo Mitsui Trust Group Inc. raised its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 129,578 shares of the software maker’s stock after buying an additional 1,779 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.21% of Manhattan Associates worth $36,461,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Innealta Capital LLC bought a new position in Manhattan Associates during the second quarter valued at about $26,000. International Assets Investment Management LLC bought a new position in shares of Manhattan Associates during the 2nd quarter valued at approximately $27,000. DT Investment Partners LLC purchased a new stake in shares of Manhattan Associates during the 2nd quarter worth approximately $31,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Manhattan Associates in the 2nd quarter worth approximately $31,000. Finally, Capital Performance Advisors LLP purchased a new position in Manhattan Associates in the third quarter valued at approximately $34,000. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Price Performance

NASDAQ MANH opened at $272.62 on Friday. The company’s 50 day simple moving average is $279.80 and its two-hundred day simple moving average is $252.45. Manhattan Associates, Inc. has a 1 year low of $199.23 and a 1 year high of $307.50. The stock has a market capitalization of $16.65 billion, a PE ratio of 77.45 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.29. The company had revenue of $266.70 million during the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company earned $0.79 earnings per share. On average, research analysts anticipate that Manhattan Associates, Inc. will post 3.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MANH. DA Davidson raised their target price on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Raymond James lifted their price objective on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Citigroup upped 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, September 25th. Robert W. Baird lifted their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $286.38.

Manhattan Associates Profile

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.