M&G Plc Raises Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

M&G PLC increased its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 5.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 334,419 shares of the software maker's stock after buying an additional 18,176 shares during the period. M&G PLC owned about 0.54% of Manhattan Associates worth $93,972,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in shares of Manhattan Associates during the second quarter valued at $26,000. International Assets Investment Management LLC acquired a new stake in Manhattan Associates during the second quarter worth approximately $27,000. DT Investment Partners LLC purchased a new stake in Manhattan Associates in the 2nd quarter worth approximately $31,000. Ashton Thomas Private Wealth LLC acquired a new position in Manhattan Associates in the 2nd quarter valued at $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Manhattan Associates during the 2nd quarter worth $37,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Stock Performance

Shares of MANH stock traded up $2.64 during trading hours on Thursday, reaching $283.67. The company had a trading volume of 430,435 shares, compared to its average volume of 417,682. The company has a market capitalization of $17.33 billion, a P/E ratio of 79.84 and a beta of 1.52. Manhattan Associates, Inc. has a twelve month low of $199.23 and a twelve month high of $307.50. The stock's fifty day simple moving average is $276.49 and its 200 day simple moving average is $249.12.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, beating 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 company had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. During the same quarter last year, the firm posted $0.79 earnings per share. The business's quarterly revenue was up 11.9% on a year-over-year basis. As a group, equities analysts expect that Manhattan Associates, Inc. will post 3.4 earnings per share for the current year.

Analyst Ratings Changes

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