Sunbelt Securities Inc. Acquires 283 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Sunbelt Securities Inc. grew its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 57.1% during the first quarter, Holdings Channel reports. The institutional investor owned 779 shares of the software maker’s stock after purchasing an additional 283 shares during the quarter. Sunbelt Securities Inc.’s holdings in Manhattan Associates were worth $195,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of MANH. CenterBook Partners LP purchased a new position in Manhattan Associates in the 4th quarter worth approximately $761,000. Russell Investments Group Ltd. raised its holdings in Manhattan Associates by 9.1% during the 4th quarter. Russell Investments Group Ltd. now owns 59,852 shares of the software maker’s stock valued at $12,923,000 after buying an additional 4,986 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in Manhattan Associates by 59.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 21,612 shares of the software maker’s stock valued at $4,271,000 after buying an additional 8,094 shares during the period. Highland Capital Management LLC purchased a new position in shares of Manhattan Associates in the fourth quarter valued at about $1,142,000. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of Manhattan Associates by 82.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 26,894 shares of the software maker’s stock valued at $5,791,000 after acquiring an additional 12,124 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MANH shares. DA Davidson boosted their price target on Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, May 16th. Citigroup raised their price target on Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a research note on Friday. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, May 27th. William Blair restated a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Finally, Redburn Atlantic initiated coverage on shares of Manhattan Associates in a research note on Tuesday, May 14th. They set a “buy” rating and a $260.00 target price on the stock. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $245.13.

Manhattan Associates Stock Performance

Shares of MANH opened at $246.68 on Friday. Manhattan Associates, Inc. has a fifty-two week low of $182.97 and a fifty-two week high of $266.94. The firm’s 50-day simple moving average is $223.73 and its two-hundred day simple moving average is $230.98. The stock has a market cap of $15.19 billion, a PE ratio of 80.61 and a beta of 1.48.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results 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. The company had revenue of $254.55 million for the quarter, compared to the consensus estimate of $243.32 million. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. Equities research analysts predict that Manhattan Associates, Inc. will post 2.72 EPS for the current 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.