Hixon Zuercher LLC Buys New Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Hixon Zuercher LLC purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,198 shares of the software maker’s stock, valued at approximately $2,025,000.

A number of other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in Manhattan Associates by 47.5% during the third quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker’s stock valued at $334,000 after buying an additional 382 shares in the last quarter. Boston Trust Walden Corp boosted its position in shares of Manhattan Associates by 3.3% during the 2nd quarter. Boston Trust Walden Corp now owns 109,542 shares of the software maker’s stock valued at $27,022,000 after purchasing an additional 3,525 shares in the last quarter. Mediolanum International Funds Ltd grew its stake in shares of Manhattan Associates by 602.0% in the 3rd quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker’s stock worth $5,607,000 after purchasing an additional 17,187 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Manhattan Associates in the 1st quarter worth approximately $2,407,000. Finally, SG Americas Securities LLC lifted its stake in Manhattan Associates by 399.7% during the first quarter. SG Americas Securities LLC now owns 13,417 shares of the software maker’s stock valued at $3,357,000 after purchasing an additional 10,732 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MANH shares. Robert W. Baird lifted their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. DA Davidson raised their price objective on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Raymond James boosted their target price on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Citigroup increased their price target on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Finally, Loop Capital boosted their price objective on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $286.38.

Manhattan Associates Price Performance

Shares of MANH opened at $266.43 on Wednesday. The company has a market capitalization of $16.27 billion, a PE ratio of 75.69 and a beta of 1.52. Manhattan Associates, Inc. has a one year low of $199.23 and a one year high of $307.50. The company’s fifty day moving average price is $276.05 and its 200 day moving average price is $248.90.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 EPS 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 period in the previous year, the company posted $0.79 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. Analysts anticipate 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.