Hennion & Walsh Asset Management Inc. Raises Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 67.7% in the first quarter, HoldingsChannel reports. The firm owned 3,312 shares of the software maker’s stock after buying an additional 1,337 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Manhattan Associates were worth $829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Capital Insight Partners LLC raised its stake in shares of Manhattan Associates by 0.7% during the 1st quarter. Capital Insight Partners LLC now owns 14,980 shares of the software maker’s stock valued at $3,748,000 after buying an additional 106 shares during the last quarter. Janiczek Wealth Management LLC lifted its holdings in Manhattan Associates by 4.6% in the first quarter. Janiczek Wealth Management LLC now owns 1,492 shares of the software maker’s stock valued at $373,000 after acquiring an additional 65 shares during the period. DGS Capital Management LLC boosted its position in Manhattan Associates by 13.4% in the 1st quarter. DGS Capital Management LLC now owns 7,412 shares of the software maker’s stock worth $1,855,000 after purchasing an additional 877 shares in the last quarter. Sunbelt Securities Inc. grew its stake in shares of Manhattan Associates by 57.1% during the 1st quarter. Sunbelt Securities Inc. now owns 779 shares of the software maker’s stock worth $195,000 after purchasing an additional 283 shares during the period. Finally, FCF Advisors LLC increased its holdings in shares of Manhattan Associates by 5.6% during the 1st quarter. FCF Advisors LLC now owns 9,346 shares of the software maker’s stock valued at $2,339,000 after purchasing an additional 494 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. William Blair reissued a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. DA Davidson raised their target price on Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Redburn Atlantic started coverage on Manhattan Associates in a report on Tuesday, May 14th. They issued a “buy” rating and a $260.00 price target for the company. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, May 27th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $225.00 price objective on shares of Manhattan Associates in a research report on Wednesday, April 24th. 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $245.13.

Manhattan Associates Price Performance

Shares of NASDAQ:MANH opened at $245.28 on Tuesday. Manhattan Associates, Inc. has a 1 year low of $182.97 and a 1 year high of $266.94. The firm has a market capitalization of $15.10 billion, a PE ratio of 80.16 and a beta of 1.50. The business’s 50 day moving average price is $224.07 and its 200-day moving average price is $231.28.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, April 23rd. The software maker reported $0.86 earnings per share (EPS) 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 analysts’ expectations of $243.32 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. As a group, analysts expect that Manhattan Associates, Inc. will post 2.72 earnings per share for the current year.

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.