Charles Schwab Investment Management Inc. cut its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 0.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 402,154 shares of the software maker's stock after selling 2,775 shares during the period. Charles Schwab Investment Management Inc. owned about 0.66% of Manhattan Associates worth $113,158,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in MANH. Massachusetts Financial Services Co. MA acquired a new position in Manhattan Associates during the third quarter valued at approximately $234,249,000. Fiera Capital Corp bought a new position in shares of Manhattan Associates in the second quarter valued at $44,705,000. Squarepoint Ops LLC increased its holdings in Manhattan Associates by 448.9% during the second quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker's stock worth $39,629,000 after buying an additional 131,381 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Manhattan Associates by 118.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker's stock worth $48,860,000 after acquiring an additional 94,283 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in Manhattan Associates by 27.2% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 385,311 shares of the software maker's stock valued at $94,898,000 after acquiring an additional 82,420 shares during the last quarter. Institutional investors own 98.45% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the stock. Raymond James boosted their price objective on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Loop Capital upped their price objective 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 lifted their target price on Manhattan Associates from $275.00 to $310.00 and gave the stock a "buy" rating in a research note on Friday, October 11th. DA Davidson increased their price target on Manhattan Associates from $285.00 to $315.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Finally, 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. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Manhattan Associates has an average rating of "Moderate Buy" and an average price target of $290.78.
Check Out Our Latest Stock Analysis on Manhattan Associates
Manhattan Associates Stock Performance
NASDAQ:MANH traded down $1.79 during mid-day trading on Tuesday, reaching $288.95. 413,537 shares of the company's stock were exchanged, compared to its average volume of 416,381. Manhattan Associates, Inc. has a one year low of $199.23 and a one year high of $307.50. The business's fifty day simple moving average is $281.33 and its two-hundred day simple moving average is $255.41. The firm has a market capitalization of $17.65 billion, a PE ratio of 81.93 and a beta of 1.52.
Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping the consensus estimate of $1.06 by $0.29. The company had revenue of $266.70 million for the quarter, compared to analysts' expectations of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The business's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $0.79 earnings per share. As a group, equities research analysts forecast that Manhattan Associates, Inc. will post 3.4 EPS for the current year.
About Manhattan Associates
(
Free Report)
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.
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