Mediolanum International Funds Ltd Has $5.61 Million Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Mediolanum International Funds Ltd grew its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 602.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,042 shares of the software maker's stock after acquiring an additional 17,187 shares during the quarter. Mediolanum International Funds Ltd's holdings in Manhattan Associates were worth $5,607,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Tobam bought a new stake in Manhattan Associates during the first quarter worth about $25,000. Innealta Capital LLC bought a new stake in shares of Manhattan Associates during the 2nd quarter worth approximately $26,000. International Assets Investment Management LLC acquired a new stake in shares of Manhattan Associates in the 2nd quarter valued at approximately $27,000. DT Investment Partners LLC bought a new position in shares of Manhattan Associates in the second quarter valued at $31,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Manhattan Associates during the second quarter worth $31,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. DA Davidson increased their price target on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a "buy" rating in a research note on Wednesday. Citigroup lifted their price target on Manhattan Associates from $257.00 to $287.00 and gave the stock a "neutral" rating in a report on Wednesday, September 25th. Robert W. Baird upped their price objective on Manhattan Associates from $263.00 to $304.00 and gave the company an "outperform" rating in a research note on Tuesday, October 22nd. StockNews.com downgraded Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Thursday, August 1st. Finally, Loop Capital boosted their target price on Manhattan Associates from $265.00 to $285.00 and gave the stock a "buy" rating in a report on Monday, September 16th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $286.38.

Insider Transactions at Manhattan Associates

In related news, EVP James Stewart Gantt sold 6,000 shares of the business's stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total value of $1,539,000.00. Following the completion of the sale, the executive vice president now directly owns 46,287 shares in the company, valued at approximately $11,872,615.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.72% of the company's stock.

Manhattan Associates Stock Performance

NASDAQ:MANH traded up $2.21 during mid-day trading on Friday, hitting $275.70. 375,277 shares of the stock were exchanged, compared to its average volume of 417,592. The firm's 50-day simple moving average is $274.95 and its 200 day simple moving average is $247.10. The stock has a market capitalization of $16.89 billion, a price-to-earnings ratio of 78.32 and a beta of 1.50. Manhattan Associates, Inc. has a fifty-two week low of $186.77 and a fifty-two week high of $307.50.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, topping analysts' consensus estimates of $1.06 by $0.29. Manhattan Associates had a return on equity of 86.65% and a net margin of 21.38%. The company had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. During the same quarter last year, the firm earned $0.79 earnings per share. The company's revenue was up 11.9% on a year-over-year basis. On average, analysts predict that Manhattan Associates, Inc. will post 3.01 EPS for the current fiscal year.

Manhattan Associates Company 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.