Brooklyn Investment Group Invests $58,000 in Manhattan Associates, Inc. (NASDAQ:MANH)

Brooklyn Investment Group purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 207 shares of the software maker’s stock, valued at approximately $58,000.

A number of other hedge funds have also bought and sold shares of MANH. GAMMA Investing LLC lifted its holdings in Manhattan Associates by 47.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker’s stock worth $334,000 after buying an additional 382 shares during the last quarter. Boston Trust Walden Corp lifted its stake in Manhattan Associates by 3.3% during the second quarter. Boston Trust Walden Corp now owns 109,542 shares of the software maker’s stock worth $27,022,000 after purchasing an additional 3,525 shares during the last quarter. Mediolanum International Funds Ltd lifted its stake in Manhattan Associates by 602.0% during the third quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker’s stock worth $5,607,000 after purchasing an additional 17,187 shares during the last quarter. Chartwell Investment Partners LLC boosted its holdings in Manhattan Associates by 31.1% in the third quarter. Chartwell Investment Partners LLC now owns 21,557 shares of the software maker’s stock worth $6,065,000 after purchasing an additional 5,119 shares during the period. Finally, M&G Plc increased its stake in Manhattan Associates by 2.1% during the second quarter. M&G Plc now owns 316,243 shares of the software maker’s stock valued at $78,112,000 after purchasing an additional 6,511 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock opened at $287.68 on Friday. Manhattan Associates, Inc. has a 1-year low of $199.23 and a 1-year high of $307.50. The company has a market capitalization of $17.57 billion, a P/E ratio of 81.73 and a beta of 1.52. The business’s fifty day moving average price is $282.02 and its two-hundred day moving average price is $256.13.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.29. The business had revenue of $266.70 million during 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 company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.79 earnings per share. On average, research analysts expect that Manhattan Associates, Inc. will post 3.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MANH. Robert W. Baird raised their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Piper Sandler initiated coverage on shares of Manhattan Associates in a report on Monday. They issued an “overweight” rating and a $326.00 target price on the stock. Truist Financial upped their target price on Manhattan Associates from $275.00 to $310.00 and gave the company 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 stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Citigroup boosted their price objective on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and a consensus target price of $290.78.

Manhattan Associates Company 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.