Angeles Wealth Management LLC Makes New $450,000 Investment in Manhattan Associates, Inc. (NASDAQ:MANH)

Angeles Wealth Management LLC acquired a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,601 shares of the software maker’s stock, valued at approximately $450,000.

Other large investors also recently modified their holdings of the company. Tobam purchased a new position in shares of Manhattan Associates during the first quarter worth approximately $25,000. Innealta Capital LLC bought a new stake in Manhattan Associates in the second quarter worth $26,000. International Assets Investment Management LLC bought a new stake in Manhattan Associates in the second quarter worth $27,000. Ashton Thomas Private Wealth LLC purchased a new stake in Manhattan Associates during the second quarter valued at about $31,000. Finally, DT Investment Partners LLC bought a new position in shares of Manhattan Associates during the second quarter valued at about $31,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Price Performance

NASDAQ:MANH traded up $0.99 during trading hours on Friday, hitting $264.35. The company had a trading volume of 329,374 shares, compared to its average volume of 497,408. The stock has a 50-day moving average price of $275.85 and a 200 day moving average price of $248.10. The company has a market capitalization of $16.15 billion, a PE ratio of 75.10 and a beta of 1.52. Manhattan Associates, Inc. has a 52 week low of $198.45 and a 52 week high of $307.50.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results 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. The company had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 earnings per share. Analysts anticipate that Manhattan Associates, Inc. will post 3.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MANH has been the subject of a number of recent research reports. Raymond James boosted their target price on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Truist Financial boosted their price objective on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Robert W. Baird raised their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Citigroup lifted 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. Finally, DA Davidson increased their price target on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $286.38.

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.