Smith Group Asset Management LLC Purchases 2,230 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Smith Group Asset Management LLC increased its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 2.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,591 shares of the software maker's stock after purchasing an additional 2,230 shares during the period. Manhattan Associates makes up 2.1% of Smith Group Asset Management LLC's portfolio, making the stock its 17th biggest position. Smith Group Asset Management LLC owned about 0.15% of Manhattan Associates worth $25,772,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tobam acquired a new stake in shares of Manhattan Associates during the 1st quarter worth about $25,000. Innealta Capital LLC bought a new position in shares of Manhattan Associates in the second quarter valued at approximately $26,000. International Assets Investment Management LLC acquired a new position in shares of Manhattan Associates in the 2nd quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC bought a new stake in Manhattan Associates during the 2nd quarter worth approximately $31,000. Finally, DT Investment Partners LLC acquired a new stake in Manhattan Associates during the 2nd quarter valued at $31,000. Institutional investors own 98.45% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on MANH. DA Davidson increased their target price on Manhattan Associates from $285.00 to $315.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. 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 report on Wednesday, September 25th. Robert W. Baird boosted their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 22nd. Loop Capital increased their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a "buy" rating in a research note on Monday, September 16th. Finally, StockNews.com cut shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $286.38.

Manhattan Associates Stock Up 0.7 %

MANH stock traded up $1.87 during midday trading on Tuesday, reaching $277.26. The company's stock had a trading volume of 389,924 shares, compared to its average volume of 417,543. The business's 50-day simple moving average is $275.66 and its 200-day simple moving average is $247.63. Manhattan Associates, Inc. has a 52 week low of $186.77 and a 52 week high of $307.50. The stock has a market cap of $17.07 billion, a PE ratio of 90.61 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly 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. The business had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a return on equity of 86.65% and a net margin of 21.38%. The firm's revenue was up 11.9% on a year-over-year basis. During the same period last year, the company earned $0.79 EPS. As a group, equities analysts forecast that Manhattan Associates, Inc. will post 3.01 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.