Contravisory Investment Management Inc. Makes New $31,000 Investment in Manhattan Associates, Inc. (NASDAQ:MANH)

Contravisory Investment Management Inc. purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 123 shares of the software maker’s stock, valued at approximately $31,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Gulf International Bank UK Ltd boosted its position in Manhattan Associates by 2.0% during the 1st quarter. Gulf International Bank UK Ltd now owns 6,243 shares of the software maker’s stock worth $1,562,000 after acquiring an additional 120 shares during the last quarter. Lantz Financial LLC bought a new position in Manhattan Associates during the 1st quarter worth $211,000. Rise Advisors LLC acquired a new stake in shares of Manhattan Associates during the 1st quarter worth $40,000. GAMMA Investing LLC grew its holdings in shares of Manhattan Associates by 46.7% during the 1st quarter. GAMMA Investing LLC now owns 722 shares of the software maker’s stock worth $181,000 after purchasing an additional 230 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in Manhattan Associates by 11.4% in the first quarter. Los Angeles Capital Management LLC now owns 427,326 shares of the software maker’s stock valued at $106,930,000 after buying an additional 43,704 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Stock Up 3.0 %

Shares of NASDAQ:MANH opened at $240.11 on Monday. The business’s 50 day moving average is $222.24 and its 200 day moving average is $230.33. Manhattan Associates, Inc. has a 12-month low of $182.97 and a 12-month high of $266.94. The stock has a market cap of $14.78 billion, a price-to-earnings ratio of 78.47 and a beta of 1.48.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, April 23rd. The software maker reported $0.86 earnings per share for the quarter, topping 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 business had revenue of $254.55 million for the quarter, compared to analysts’ expectations of $243.32 million. As a group, equities research analysts expect that Manhattan Associates, Inc. will post 2.72 earnings per share for the current year.

Analysts Set New Price Targets

MANH has been the topic of a number of recent research reports. Citigroup cut their price target on Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, May 27th. William Blair reiterated a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Rosenblatt Securities restated a “neutral” rating and set a $225.00 price objective on shares of Manhattan Associates in a report on Wednesday, April 24th. Finally, DA Davidson boosted their price objective on Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, May 16th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus price target of $240.50.

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.