Quest Partners LLC Raises Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Quest Partners LLC lifted its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 74,900.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 750 shares of the software maker’s stock after purchasing an additional 749 shares during the period. Quest Partners LLC’s holdings in Manhattan Associates were worth $211,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in shares of Manhattan Associates during the 2nd quarter worth approximately $26,000. International Assets Investment Management LLC purchased a new position in Manhattan Associates in the 2nd quarter valued at approximately $27,000. DT Investment Partners LLC purchased a new position in Manhattan Associates in the 2nd quarter valued at approximately $31,000. Ashton Thomas Private Wealth LLC purchased a new position in Manhattan Associates in the 2nd quarter valued at approximately $31,000. Finally, Capital Performance Advisors LLP purchased a new position in Manhattan Associates in the 3rd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Trading Down 0.4 %

Shares of NASDAQ:MANH opened at $287.68 on Thursday. The company has a market cap of $17.57 billion, a price-to-earnings ratio of 80.91 and a beta of 1.52. The company has a 50-day moving average price of $281.65 and a 200-day moving average price of $255.91. 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, 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 company had revenue of $266.70 million for the quarter, compared to analysts’ expectations of $262.90 million. During the same quarter in the previous year, the company earned $0.79 earnings per share. Manhattan Associates’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, research analysts forecast that Manhattan Associates, Inc. will post 3.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MANH. DA Davidson lifted their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Piper Sandler began coverage on shares of Manhattan Associates in a research note on Monday. They issued an “overweight” rating and a $326.00 price objective for the company. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Raymond James boosted their price target on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Citigroup lifted their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $290.78.

About Manhattan Associates

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.