Metis Global Partners LLC Takes Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Metis Global Partners LLC bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 782 shares of the software maker’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also bought and sold shares of MANH. Zions Bancorporation N.A. increased its holdings in shares of Manhattan Associates by 18.2% in the third quarter. Zions Bancorporation N.A. now owns 8,619 shares of the software maker’s stock worth $2,425,000 after purchasing an additional 1,325 shares during the period. Huntington National Bank increased its stake in Manhattan Associates by 5.9% in the 3rd quarter. Huntington National Bank now owns 879 shares of the software maker’s stock worth $247,000 after acquiring an additional 49 shares during the last quarter. KBC Group NV raised its holdings in shares of Manhattan Associates by 70.9% in the 3rd quarter. KBC Group NV now owns 28,355 shares of the software maker’s stock valued at $7,979,000 after acquiring an additional 11,762 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Manhattan Associates by 1.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 129,578 shares of the software maker’s stock valued at $36,461,000 after acquiring an additional 1,779 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV purchased a new position in shares of Manhattan Associates during the third quarter worth about $337,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Truist Financial lifted their price objective on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, October 11th. DA Davidson raised their price target on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Citigroup upped their price objective on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Finally, Loop Capital raised their price objective on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Manhattan Associates has an average rating of “Moderate Buy” and an average target price of $286.38.

Manhattan Associates Price Performance

MANH opened at $270.74 on Wednesday. The stock’s 50 day simple moving average is $280.36 and its 200 day simple moving average is $253.63. The firm has a market cap of $16.54 billion, a price-to-earnings ratio of 76.91 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.

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

Manhattan Associates 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.