Norden Group LLC Takes $225,000 Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Norden Group LLC acquired a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 900 shares of the software maker’s stock, valued at approximately $225,000.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. raised its position 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 last quarter. Bear Mountain Capital Inc. acquired a new position in Manhattan Associates during the fourth quarter worth approximately $26,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Manhattan Associates during the fourth quarter worth approximately $26,000. Contravisory Investment Management Inc. acquired a new position in Manhattan Associates during the first quarter worth approximately $31,000. Finally, Rise Advisors LLC acquired a new position in Manhattan Associates during the first quarter worth approximately $40,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Trading Down 1.6 %

Shares of MANH stock opened at $242.17 on Wednesday. The company has a market capitalization of $14.91 billion, a PE ratio of 79.14 and a beta of 1.50. The firm has a fifty day simple moving average of $228.15 and a 200-day simple moving average of $232.41. Manhattan Associates, Inc. has a twelve month low of $182.97 and a twelve month 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. The business had revenue of $254.55 million during the quarter, compared to the consensus estimate of $243.32 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. Equities research analysts predict that Manhattan Associates, Inc. will post 2.72 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on MANH. Redburn Atlantic began coverage on shares of Manhattan Associates in a research report on Tuesday, May 14th. They set a “buy” rating and a $260.00 price target for the company. William Blair reaffirmed a “market perform” rating on shares of Manhattan Associates in a research report on Wednesday, April 24th. Citigroup upped their price target on shares of Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Rosenblatt Securities reissued a “neutral” rating and issued a $225.00 price objective on shares of Manhattan Associates in a research report on Wednesday, April 24th. Finally, StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, May 27th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $245.13.

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.