1832 Asset Management L.P. Purchases 30,148 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

1832 Asset Management L.P. lifted its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 361.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,487 shares of the software maker’s stock after buying an additional 30,148 shares during the period. 1832 Asset Management L.P. owned about 0.06% of Manhattan Associates worth $9,631,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of Manhattan Associates by 259.4% in the fourth quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock valued at $25,000 after buying an additional 83 shares during the period. Tobam acquired a new position in Manhattan Associates in the 1st quarter worth $25,000. Bear Mountain Capital Inc. bought a new position in Manhattan Associates during the 4th quarter worth about $26,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Manhattan Associates in the 4th quarter valued at about $26,000. Finally, Benjamin Edwards Inc. acquired a new stake in shares of Manhattan Associates in the 1st quarter valued at about $27,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MANH shares. StockNews.com upgraded Manhattan Associates from a “hold” rating to a “buy” rating in a report on Wednesday. Citigroup lifted their price objective on shares of Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, June 28th. William Blair restated a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Redburn Atlantic initiated coverage on shares of Manhattan Associates in a research note on Tuesday, May 14th. They issued a “buy” rating and a $260.00 price target on the stock. Finally, Loop Capital increased their price objective on shares of Manhattan Associates from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Manhattan Associates presently has a consensus rating of “Moderate Buy” and an average target price of $257.43.

Manhattan Associates Trading Up 4.7 %

Shares of Manhattan Associates stock traded up $11.59 during trading on Friday, hitting $258.46. 882,921 shares of the stock were exchanged, compared to its average volume of 553,098. The company has a fifty day moving average price of $233.36 and a 200-day moving average price of $234.67. The stock has a market capitalization of $15.91 billion, a price-to-earnings ratio of 84.46 and a beta of 1.50. Manhattan Associates, Inc. has a 1-year low of $182.97 and a 1-year high of $266.94.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.22. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The firm had revenue of $265.30 million for the quarter, compared to the consensus estimate of $255.83 million. During the same quarter in the previous year, the business earned $0.63 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. Equities research analysts forecast that Manhattan Associates, Inc. will post 3.01 EPS 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.