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

Hixon Zuercher LLC purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,198 shares of the software maker's stock, valued at approximately $2,025,000.

Several other institutional investors have also recently bought and sold shares of the company. Norden Group LLC acquired a new position in Manhattan Associates in the 1st quarter valued at about $225,000. Janney Montgomery Scott LLC raised its position in Manhattan Associates by 5.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 4,338 shares of the software maker's stock worth $1,086,000 after purchasing an additional 218 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Manhattan Associates in the first quarter worth approximately $2,407,000. Mediolanum International Funds Ltd acquired a new stake in shares of Manhattan Associates during the first quarter worth $713,000. Finally, Texas Permanent School Fund Corp raised its position in shares of Manhattan Associates by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 53,882 shares of the software maker's stock worth $13,483,000 after acquiring an additional 699 shares in the last quarter. Institutional investors own 98.45% of the company's stock.

Manhattan Associates Price Performance

Manhattan Associates stock traded up $14.60 during mid-day trading on Wednesday, hitting $281.03. The company's stock had a trading volume of 609,018 shares, compared to its average volume of 489,400. The business has a 50 day moving average price of $276.05 and a 200-day moving average price of $248.90. Manhattan Associates, Inc. has a 12 month low of $199.23 and a 12 month high of $307.50. The stock has a market cap of $17.17 billion, a price-to-earnings ratio of 79.84 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $262.90 million. During the same quarter last year, the business earned $0.79 earnings per share. The business's revenue was up 11.9% on a year-over-year basis. On average, equities research analysts expect that Manhattan Associates, Inc. will post 3.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Citigroup raised their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a "neutral" rating in a research note on Wednesday, September 25th. Truist Financial lifted their price objective on shares of 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 lifted their price objective 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 lifted their price target on Manhattan Associates from $285.00 to $315.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Finally, Raymond James lifted their price target on Manhattan Associates from $255.00 to $305.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Manhattan Associates has a consensus rating of "Moderate Buy" and a consensus 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.