Meeder Advisory Services Inc. Buys Shares of 890 Manhattan Associates, Inc. (NASDAQ:MANH)

Meeder Advisory Services Inc. purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 890 shares of the software maker’s stock, valued at approximately $223,000.

Other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in shares of Manhattan Associates by 16.8% in the fourth quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker’s stock worth $187,967,000 after acquiring an additional 125,541 shares during the last quarter. Norges Bank purchased a new position in shares of Manhattan Associates in the 4th quarter worth about $146,984,000. TD Asset Management Inc grew its stake in shares of Manhattan Associates by 234.2% in the fourth quarter. TD Asset Management Inc now owns 549,308 shares of the software maker’s stock valued at $118,277,000 after buying an additional 384,941 shares in the last quarter. Principal Financial Group Inc. grew its stake in Manhattan Associates by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 512,603 shares of the software maker’s stock valued at $128,269,000 after purchasing an additional 10,053 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in Manhattan Associates by 11.4% during the 1st quarter. Los Angeles Capital Management LLC now owns 427,326 shares of the software maker’s stock valued at $106,930,000 after purchasing an additional 43,704 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, May 27th. Rosenblatt Securities reissued a “neutral” rating and issued a $225.00 price target on shares of Manhattan Associates in a report on Wednesday, April 24th. William Blair reissued a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. DA Davidson raised their price target on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. Finally, Redburn Atlantic initiated coverage on Manhattan Associates in a report on Tuesday, May 14th. They issued a “buy” rating and a $260.00 price target on the stock. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $245.13.

Manhattan Associates Stock Down 0.0 %

Manhattan Associates stock traded down $0.10 during mid-day trading on Tuesday, hitting $241.04. 69,658 shares of the company’s stock traded hands, compared to its average volume of 398,076. The firm has a 50 day moving average price of $230.71 and a 200 day moving average price of $233.09. The company has a market cap of $14.84 billion, a PE ratio of 78.80 and a beta of 1.50. Manhattan Associates, Inc. has a one year low of $182.97 and a one year high of $266.94.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, April 23rd. The software maker reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.23. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. The firm had revenue of $254.55 million for the quarter, compared to the consensus estimate of $243.32 million. On average, analysts expect that Manhattan Associates, Inc. will post 2.72 earnings per share for the current fiscal year.

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.