Advisors Asset Management Inc. Takes Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Advisors Asset Management Inc. bought a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,655 shares of the software maker’s stock, valued at approximately $747,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MANH. Fidelis Capital Partners LLC lifted its holdings in shares of Manhattan Associates by 3.2% during the 3rd quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock worth $347,000 after acquiring an additional 40 shares during the period. UMB Bank n.a. raised its position in Manhattan Associates by 16.7% in the third quarter. UMB Bank n.a. now owns 301 shares of the software maker’s stock worth $85,000 after purchasing an additional 43 shares in the last quarter. SkyView Investment Advisors LLC lifted its stake in Manhattan Associates by 0.9% during the second quarter. SkyView Investment Advisors LLC now owns 5,018 shares of the software maker’s stock worth $1,238,000 after purchasing an additional 46 shares during the period. Huntington National Bank boosted its holdings in Manhattan Associates by 5.9% during the third quarter. Huntington National Bank now owns 879 shares of the software maker’s stock valued at $247,000 after purchasing an additional 49 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Manhattan Associates by 3.3% in the 3rd quarter. CIBC Asset Management Inc now owns 1,798 shares of the software maker’s stock valued at $506,000 after purchasing an additional 58 shares during the period. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Trading Down 0.6 %

Shares of NASDAQ MANH opened at $288.95 on Wednesday. Manhattan Associates, Inc. has a 1-year low of $199.23 and a 1-year high of $307.50. The company has a 50-day moving average of $281.33 and a two-hundred day moving average of $255.41. The company has a market cap of $17.65 billion, a PE ratio of 81.93 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. The firm had revenue of $266.70 million for 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 business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company earned $0.79 EPS. As a group, equities research analysts forecast that Manhattan Associates, Inc. will post 3.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Piper Sandler initiated coverage on Manhattan Associates in a research note on Monday. They issued an “overweight” rating and a $326.00 price target on the stock. DA Davidson lifted their price objective on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Citigroup upped their target price on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Raymond James lifted their price target on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, Loop Capital upped their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $290.78.

About Manhattan Associates

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.