Sequoia Financial Advisors LLC Buys New Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Sequoia Financial Advisors LLC bought a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 750 shares of the software maker’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. increased its position in Manhattan Associates by 16.7% in the 3rd quarter. UMB Bank n.a. now owns 301 shares of the software maker’s stock valued at $85,000 after buying an additional 43 shares in the last quarter. SkyView Investment Advisors LLC increased its position in Manhattan Associates by 0.9% in the 2nd quarter. SkyView Investment Advisors LLC now owns 5,018 shares of the software maker’s stock valued at $1,238,000 after buying an additional 46 shares in the last quarter. iA Global Asset Management Inc. increased its holdings in Manhattan Associates by 9.7% during the 1st quarter. iA Global Asset Management Inc. now owns 726 shares of the software maker’s stock worth $182,000 after purchasing an additional 64 shares in the last quarter. Atomi Financial Group Inc. increased its holdings in Manhattan Associates by 8.3% during the 3rd quarter. Atomi Financial Group Inc. now owns 1,014 shares of the software maker’s stock worth $285,000 after purchasing an additional 78 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Manhattan Associates by 11.4% during the 2nd quarter. GAMMA Investing LLC now owns 804 shares of the software maker’s stock worth $198,000 after purchasing an additional 82 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Stock Up 0.7 %

Shares of NASDAQ MANH opened at $277.26 on Wednesday. Manhattan Associates, Inc. has a twelve month low of $186.77 and a twelve month high of $307.50. The stock’s 50 day moving average price is $275.66 and its 200-day moving average price is $247.63. The company has a market capitalization of $17.07 billion, a PE ratio of 90.61 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating the consensus estimate of $1.06 by $0.29. Manhattan Associates had a return on equity of 86.65% and a net margin of 21.38%. The business had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. During the same quarter in the prior year, the business earned $0.79 earnings per share. Manhattan Associates’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, research analysts expect that Manhattan Associates, Inc. will post 3.01 EPS for the current fiscal year.

Analysts Set New Price Targets

MANH has been the subject of a number of recent research reports. Raymond James boosted their price objective on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Truist Financial boosted their price objective on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, October 11th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Loop Capital boosted their price objective on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Finally, DA Davidson boosted their price objective on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Manhattan Associates has a consensus rating of “Moderate Buy” and a consensus price target of $286.38.

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.