Hixon Zuercher LLC Invests $2.03 Million in Manhattan Associates, Inc. (NASDAQ:MANH)

Hixon Zuercher LLC bought a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,198 shares of the software maker’s stock, valued at approximately $2,025,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. M&G Plc purchased a new position in Manhattan Associates in the first quarter valued at approximately $77,433,000. Fiera Capital Corp purchased a new position in shares of Manhattan Associates in the 2nd quarter valued at $44,705,000. Squarepoint Ops LLC lifted its holdings in shares of Manhattan Associates by 448.9% during the 2nd 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 in the last quarter. Russell Investments Group Ltd. boosted its position in Manhattan Associates by 173.2% during the 1st quarter. Russell Investments Group Ltd. now owns 163,497 shares of the software maker’s stock worth $40,893,000 after purchasing an additional 103,645 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in Manhattan Associates by 118.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker’s stock valued at $48,860,000 after purchasing an additional 94,283 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Price Performance

Shares of MANH opened at $266.43 on Wednesday. The stock has a fifty day moving average price of $276.05 and a 200 day moving average price of $248.90. The company has a market cap of $16.27 billion, a P/E ratio of 75.69 and a beta of 1.52. Manhattan Associates, Inc. has a 12 month low of $199.23 and a 12 month high of $307.50.

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

Wall Street Analyst Weigh In

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

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.