Pathstone Holdings LLC Buys 192 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Pathstone Holdings LLC increased its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 2.0% in the third quarter, Holdings Channel.com reports. The fund owned 9,739 shares of the software maker’s stock after purchasing an additional 192 shares during the period. Pathstone Holdings LLC’s holdings in Manhattan Associates were worth $2,740,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MANH. Fidelis Capital Partners LLC boosted 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 valued at $347,000 after purchasing an additional 40 shares during the last quarter. UMB Bank n.a. boosted its stake in Manhattan Associates by 16.7% during the third quarter. UMB Bank n.a. now owns 301 shares of the software maker’s stock valued at $85,000 after buying an additional 43 shares during the last quarter. SkyView Investment Advisors LLC grew its holdings in Manhattan Associates by 0.9% during the 2nd quarter. SkyView Investment Advisors LLC now owns 5,018 shares of the software maker’s stock valued at $1,238,000 after buying an additional 46 shares in the last quarter. Huntington National Bank increased its stake in Manhattan Associates by 5.9% in the 3rd quarter. Huntington National Bank now owns 879 shares of the software maker’s stock worth $247,000 after acquiring an additional 49 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in Manhattan Associates by 3.3% in the 3rd quarter. CIBC Asset Management Inc now owns 1,798 shares of the software maker’s stock worth $506,000 after acquiring an additional 58 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MANH. Truist Financial raised their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday, October 11th. Raymond James lifted their price objective on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Citigroup upped their target price on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Robert W. Baird lifted their price target on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Piper Sandler began coverage on Manhattan Associates in a research note on Monday. They issued an “overweight” rating and a $326.00 price objective for the company. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $290.78.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH opened at $290.74 on Tuesday. Manhattan Associates, Inc. has a fifty-two week low of $199.23 and a fifty-two week high of $307.50. The company has a market cap of $17.76 billion, a price-to-earnings ratio of 82.60 and a beta of 1.52. The business’s 50 day moving average price is $281.33 and its 200-day moving average price is $255.41.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The business had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. During the same quarter last year, the firm posted $0.79 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. Sell-side analysts predict that Manhattan Associates, Inc. will post 3.4 earnings per share for the current year.

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.