Advisors Asset Management Inc. Acquires New Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Advisors Asset Management Inc. purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,655 shares of the software maker's stock, valued at approximately $747,000.

A number of other hedge funds have also recently modified their holdings of MANH. Price T Rowe Associates Inc. MD lifted its position in shares of Manhattan Associates by 7.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 426,729 shares of the software maker's stock valued at $106,782,000 after buying an additional 29,063 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of Manhattan Associates in the first quarter worth approximately $306,000. Kennedy Capital Management LLC purchased a new stake in shares of Manhattan Associates in the first quarter worth $2,144,000. Janus Henderson Group PLC raised its position in shares of Manhattan Associates by 18.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,746 shares of the software maker's stock valued at $687,000 after purchasing an additional 432 shares during the period. Finally, B. Riley Wealth Advisors Inc. lifted its stake in shares of Manhattan Associates by 36.9% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,368 shares of the software maker's stock valued at $1,093,000 after buying an additional 1,177 shares in the last quarter. Institutional investors own 98.45% of the company's stock.

Manhattan Associates Price Performance

Shares of MANH stock opened at $288.95 on Wednesday. The company has a market cap of $17.65 billion, a PE ratio of 82.09 and a beta of 1.52. Manhattan Associates, Inc. has a 1 year low of $199.23 and a 1 year high of $307.50. The stock's 50 day simple moving average is $281.33 and its two-hundred day simple moving average is $255.41.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.29. The company had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. Manhattan Associates's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.79 EPS. Equities research analysts expect that Manhattan Associates, Inc. will post 3.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MANH. Piper Sandler initiated coverage on Manhattan Associates in a research note on Monday. They issued an "overweight" rating and a $326.00 price target for the company. Loop Capital lifted their target price on Manhattan Associates from $265.00 to $285.00 and gave the company a "buy" rating in a research note on Monday, September 16th. Truist Financial increased their price objective 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 boosted their target price on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. Finally, DA Davidson increased their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Manhattan Associates has an average rating of "Moderate Buy" and an average target price of $290.78.

Manhattan Associates 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.