Farther Finance Advisors LLC Has $500,000 Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Farther Finance Advisors LLC raised its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 183.9% in the third quarter, Holdings Channel reports. The fund owned 1,777 shares of the software maker’s stock after acquiring an additional 1,151 shares during the period. Farther Finance Advisors LLC’s holdings in Manhattan Associates were worth $500,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MANH. M&G Plc acquired a new position in Manhattan Associates in the first quarter valued at about $77,433,000. Fiera Capital Corp acquired a new position in Manhattan Associates in the second quarter valued at about $44,705,000. Squarepoint Ops LLC grew its stake in Manhattan Associates by 448.9% in the second quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker’s stock valued at $39,629,000 after acquiring an additional 131,381 shares during the period. Russell Investments Group Ltd. grew its stake in Manhattan Associates by 173.2% in the first quarter. Russell Investments Group Ltd. now owns 163,497 shares of the software maker’s stock valued at $40,893,000 after acquiring an additional 103,645 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Manhattan Associates by 118.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker’s stock worth $48,860,000 after buying an additional 94,283 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Stock Performance

MANH opened at $281.03 on Thursday. Manhattan Associates, Inc. has a 52-week low of $199.23 and a 52-week high of $307.50. The firm has a market capitalization of $17.17 billion, a PE ratio of 79.84 and a beta of 1.52. The business’s 50-day simple moving average is $276.05 and its 200 day simple moving average is $248.90.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.29. The business had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. Manhattan Associates’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.79 earnings per share. On average, research analysts forecast that Manhattan Associates, Inc. will post 3.4 earnings per share for the current year.

Wall Street Analyst Weigh In

MANH has been the subject of several recent research reports. Robert W. Baird upped their price objective on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Truist Financial upped their price objective on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. DA Davidson upped their price objective on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Raymond James upped their price objective on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average 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.