Magnetar Financial LLC Increases Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Magnetar Financial LLC lifted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 90.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,126 shares of the software maker’s stock after purchasing an additional 3,394 shares during the period. Magnetar Financial LLC’s holdings in Manhattan Associates were worth $1,783,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MANH. Raymond James Financial Services Advisors Inc. increased its stake in Manhattan Associates by 124.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 3,479 shares of the software maker’s stock worth $749,000 after buying an additional 1,931 shares in the last quarter. Pacer Advisors Inc. increased its stake in Manhattan Associates by 5.1% during the 4th quarter. Pacer Advisors Inc. now owns 12,860 shares of the software maker’s stock worth $2,769,000 after buying an additional 628 shares in the last quarter. Highland Capital Management LLC acquired a new position in shares of Manhattan Associates during the 4th quarter worth approximately $1,142,000. Ritholtz Wealth Management boosted its holdings in shares of Manhattan Associates by 180.5% during the 4th quarter. Ritholtz Wealth Management now owns 3,484 shares of the software maker’s stock worth $750,000 after purchasing an additional 2,242 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in shares of Manhattan Associates during the 4th quarter worth approximately $205,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Up 4.7 %

NASDAQ MANH traded up $11.59 on Friday, reaching $258.46. The stock had a trading volume of 882,921 shares, compared to its average volume of 553,098. The firm has a market capitalization of $15.91 billion, a price-to-earnings ratio of 84.46 and a beta of 1.50. Manhattan Associates, Inc. has a 12-month low of $182.97 and a 12-month high of $266.94. The stock has a fifty day moving average price of $233.36 and a two-hundred day moving average price of $234.67.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.22. The company had revenue of $265.30 million for the quarter, compared to analyst estimates of $255.83 million. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.63 earnings per share. Sell-side analysts forecast that Manhattan Associates, Inc. will post 3.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MANH has been the topic of several recent research reports. Redburn Atlantic initiated coverage on Manhattan Associates in a report on Tuesday, May 14th. They set a “buy” rating and a $260.00 target price on the stock. Loop Capital boosted their target price on Manhattan Associates from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com upgraded Manhattan Associates from a “hold” rating to a “buy” rating in a report on Wednesday. Citigroup boosted their target price on Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. Finally, William Blair reiterated a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Manhattan Associates presently has an average rating of “Moderate Buy” and an average target price of $257.43.

Manhattan Associates Company 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.