Assetmark Inc. Has $2.66 Million Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Assetmark Inc. grew its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 16.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,449 shares of the software maker’s stock after acquiring an additional 1,323 shares during the period. Assetmark Inc.’s holdings in Manhattan Associates were worth $2,659,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Manhattan Associates by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 6,671,321 shares of the software maker’s stock valued at $1,669,365,000 after buying an additional 58,905 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Manhattan Associates by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker’s stock valued at $149,023,000 after purchasing an additional 2,156 shares during the period. RGM Capital LLC grew its stake in Manhattan Associates by 4.1% in the second quarter. RGM Capital LLC now owns 583,037 shares of the software maker’s stock valued at $143,824,000 after acquiring an additional 23,000 shares during the period. Bessemer Group Inc. raised its holdings in Manhattan Associates by 0.3% during the 1st quarter. Bessemer Group Inc. now owns 561,901 shares of the software maker’s stock worth $140,604,000 after buying an additional 1,757 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in shares of Manhattan Associates by 11.6% during the first quarter. Acadian Asset Management LLC now owns 475,793 shares of the software maker’s stock worth $119,032,000 after acquiring an additional 49,630 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Price Performance

Shares of MANH stock opened at $287.39 on Thursday. The stock has a market capitalization of $17.55 billion, a price-to-earnings ratio of 81.65 and a beta of 1.52. Manhattan Associates, Inc. has a 1 year low of $199.23 and a 1 year high of $307.50. The company’s fifty day simple moving average is $278.83 and its two-hundred day simple moving average is $251.49.

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

Wall Street Analyst Weigh In

MANH has been the topic of a number of research reports. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Citigroup raised their target price on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Raymond James upped their price objective on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Truist Financial lifted their price objective on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday, October 11th. Finally, Loop Capital lifted their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. 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 MarketBeat, Manhattan Associates has an average rating of “Moderate Buy” and an average target price 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.