Larson Financial Group LLC Acquires 343 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Larson Financial Group LLC increased its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 1.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 21,267 shares of the software maker’s stock after acquiring an additional 343 shares during the quarter. Larson Financial Group LLC’s holdings in Manhattan Associates were worth $5,984,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new position in Manhattan Associates during the 2nd quarter worth $26,000. International Assets Investment Management LLC purchased a new position in Manhattan Associates during the 2nd quarter valued at about $27,000. DT Investment Partners LLC purchased a new stake in shares of Manhattan Associates in the 2nd quarter worth approximately $31,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Manhattan Associates during the second quarter valued at approximately $31,000. Finally, Capital Performance Advisors LLP bought a new position in Manhattan Associates in the third quarter worth approximately $34,000. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Trading Up 3.1 %

NASDAQ:MANH opened at $280.40 on Friday. The company has a market capitalization of $17.13 billion, a P/E ratio of 79.66 and a beta of 1.52. Manhattan Associates, Inc. has a 12 month low of $199.23 and a 12 month high of $307.50. The firm has a fifty day simple moving average of $280.92 and a 200-day simple moving average of $254.61.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, beating 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 prior year, the company earned $0.79 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. Equities analysts forecast that Manhattan Associates, Inc. will post 3.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MANH. Raymond James increased their target price on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. DA Davidson increased their price target on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird lifted their price objective 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. Citigroup boosted their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Finally, StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.38.

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.