Montanaro Asset Management Ltd Takes Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Montanaro Asset Management Ltd purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,600 shares of the software maker's stock, valued at approximately $7,485,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC boosted its holdings in Manhattan Associates by 3.2% in the third quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker's stock valued at $347,000 after purchasing an additional 40 shares during the last quarter. UMB Bank n.a. boosted its holdings in Manhattan Associates by 16.7% in the third quarter. UMB Bank n.a. now owns 301 shares of the software maker's stock valued at $85,000 after purchasing an additional 43 shares during the last quarter. SkyView Investment Advisors LLC raised its position in shares of Manhattan Associates by 0.9% in the second quarter. SkyView Investment Advisors LLC now owns 5,018 shares of the software maker's stock worth $1,238,000 after acquiring an additional 46 shares during the period. iA Global Asset Management Inc. raised its position in shares of Manhattan Associates by 9.7% in the first quarter. iA Global Asset Management Inc. now owns 726 shares of the software maker's stock worth $182,000 after acquiring an additional 64 shares during the period. Finally, Greenwood Capital Associates LLC raised its position in shares of Manhattan Associates by 2.1% in the third quarter. Greenwood Capital Associates LLC now owns 3,183 shares of the software maker's stock worth $896,000 after acquiring an additional 66 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Loop Capital upped their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a "buy" rating in a research report on Monday, September 16th. StockNews.com downgraded shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Thursday, August 1st. Citigroup upped 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. Robert W. Baird upped 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. Finally, Raymond James upped their price target on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock 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 company's stock. According to MarketBeat, Manhattan Associates presently has an average rating of "Moderate Buy" and a consensus target price of $286.38.

Manhattan Associates Price Performance

Shares of NASDAQ:MANH traded down $0.19 during mid-day trading on Friday, reaching $283.48. 284,005 shares of the company were exchanged, compared to its average volume of 514,590. The firm has a market cap of $17.31 billion, a price-to-earnings ratio of 80.53 and a beta of 1.52. The firm's 50-day simple moving average is $277.28 and its 200 day simple moving average is $249.88. Manhattan Associates, Inc. has a 1 year low of $199.23 and a 1 year high of $307.50.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 21.38% and a return on equity of 84.55%. The firm's quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.79 EPS. On average, research analysts forecast that Manhattan Associates, Inc. will post 3.4 earnings per share for the current fiscal year.

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.