PNC Financial Services Group Inc. Increases Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

PNC Financial Services Group Inc. boosted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 50.3% during the third quarter, Holdings Channel reports. The institutional investor owned 4,751 shares of the software maker’s stock after buying an additional 1,591 shares during the period. PNC Financial Services Group Inc.’s holdings in Manhattan Associates were worth $1,337,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MANH. Bank of New York Mellon Corp raised its stake in shares of Manhattan Associates by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker’s stock valued at $149,023,000 after acquiring an additional 2,156 shares during the period. RGM Capital LLC increased its holdings in shares of Manhattan Associates by 4.1% in the 2nd 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 last quarter. Dimensional Fund Advisors LP lifted its position in shares of Manhattan Associates by 20.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 441,314 shares of the software maker’s stock worth $108,881,000 after buying an additional 76,378 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of Manhattan Associates by 27.2% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 385,311 shares of the software maker’s stock worth $94,898,000 after purchasing an additional 82,420 shares during the period. Finally, AQR Capital Management LLC lifted its stake in Manhattan Associates by 15.4% in the second quarter. AQR Capital Management LLC now owns 358,367 shares of the software maker’s stock valued at $88,402,000 after buying an additional 47,894 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Trading Down 0.4 %

NASDAQ:MANH opened at $287.68 on Thursday. The firm has a market capitalization of $17.57 billion, a PE ratio of 81.73 and a beta of 1.52. The firm’s fifty day simple moving average is $281.65 and its 200 day simple moving average is $255.91. Manhattan Associates, Inc. has a 1 year low of $199.23 and a 1 year high of $307.50.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on MANH. Truist Financial boosted 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. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Robert W. Baird lifted their target price on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. DA Davidson increased their target price on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Piper Sandler started coverage on shares of Manhattan Associates in a research report on Monday. They set an “overweight” rating and a $326.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus target price of $290.78.

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.