Montanaro Asset Management Ltd Purchases Shares of 26,600 Manhattan Associates, Inc. (NASDAQ:MANH)

Montanaro Asset Management Ltd acquired a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 26,600 shares of the software maker’s stock, valued at approximately $7,485,000.

Several other large investors also recently made changes to their positions in MANH. Innealta Capital LLC acquired a new position in Manhattan Associates during the second quarter worth $26,000. International Assets Investment Management LLC bought a new position in shares of Manhattan Associates in the 2nd quarter valued at about $27,000. DT Investment Partners LLC acquired a new position in shares of Manhattan Associates during the 2nd quarter worth about $31,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Manhattan Associates in the 2nd quarter valued at about $31,000. Finally, Capital Performance Advisors LLP acquired a new stake in Manhattan Associates in the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

MANH stock opened at $283.48 on Friday. Manhattan Associates, Inc. has a 52 week low of $199.23 and a 52 week high of $307.50. The company has a market capitalization of $17.31 billion, a PE ratio of 80.53 and a beta of 1.52. The company’s 50-day simple moving average is $277.28 and its 200 day simple moving average is $249.88.

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

Analyst Ratings Changes

A number of brokerages have weighed in on MANH. Truist Financial boosted their price target on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Robert W. Baird boosted their target price on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. DA Davidson raised their price target on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Citigroup lifted their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Finally, Loop Capital increased their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $286.38.

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.