Atria Investments Inc Increases Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Atria Investments Inc grew its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 19.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,551 shares of the software maker’s stock after buying an additional 1,203 shares during the quarter. Atria Investments Inc’s holdings in Manhattan Associates were worth $2,125,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. M&G Plc purchased a new position in Manhattan Associates during the 1st quarter valued at about $77,433,000. Fiera Capital Corp purchased a new position in shares of Manhattan Associates in the 2nd quarter worth $44,705,000. Squarepoint Ops LLC lifted its stake in shares of Manhattan Associates by 448.9% in the 2nd quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker’s stock worth $39,629,000 after purchasing an additional 131,381 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Manhattan Associates by 118.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker’s stock worth $48,860,000 after acquiring an additional 94,283 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in shares of Manhattan Associates by 27.2% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 385,311 shares of the software maker’s stock worth $94,898,000 after buying an additional 82,420 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on MANH. Truist Financial raised their price target on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday, October 11th. Robert W. Baird raised their price target on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Citigroup upped their price target on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Finally, Loop Capital lifted their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates currently has an average rating of “Moderate Buy” and an average price target of $286.38.

Manhattan Associates Price Performance

MANH stock opened at $279.75 on Friday. The company has a market capitalization of $17.09 billion, a P/E ratio of 79.47 and a beta of 1.52. The firm’s fifty day simple moving average is $279.36 and its 200-day simple moving average is $251.69. Manhattan Associates, Inc. has a 12 month low of $199.23 and a 12 month high of $307.50.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.29. The firm 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 quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.79 earnings per share. As a group, sell-side analysts forecast that Manhattan Associates, Inc. will post 3.4 earnings per share 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.