AE Wealth Management LLC Has $3.38 Million Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Key Points

• AE Wealth Management LLC significantly increased its stake in Manhattan Associates, Inc. by 2,278.5%, acquiring 18,684 additional shares, bringing its total holdings to 19,504 shares valued at $3,375,000.
• Brokerages are optimistic about Manhattan Associates with several target price increases; for instance, DA Davidson raised its target from $225.00 to $250.00, assigning a "buy" rating.
• Manhattan Associates reported better-than-expected quarterly earnings of $1.31 earnings per share, surpassing estimates of $1.12, and achieved revenue of $272.42 million, which also exceeded analyst forecasts.

AE Wealth Management LLC grew its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 2,278.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,504 shares of the software maker's stock after purchasing an additional 18,684 shares during the period. AE Wealth Management LLC's holdings in Manhattan Associates were worth $3,375,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Wakefield Asset Management LLLP purchased a new stake in shares of Manhattan Associates in the 1st quarter valued at $405,000. GW&K Investment Management LLC grew its position in Manhattan Associates by 28.5% in the 1st quarter. GW&K Investment Management LLC now owns 397,901 shares of the software maker's stock valued at $68,853,000 after acquiring an additional 88,150 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of Manhattan Associates by 18.9% in the 1st quarter. Allianz Asset Management GmbH now owns 143,687 shares of the software maker's stock valued at $24,864,000 after purchasing an additional 22,845 shares during the last quarter. Gallacher Capital Management LLC grew its holdings in shares of Manhattan Associates by 90.6% during the first quarter. Gallacher Capital Management LLC now owns 1,691 shares of the software maker's stock worth $293,000 after purchasing an additional 804 shares during the last quarter. Finally, Twin Capital Management Inc. acquired a new stake in shares of Manhattan Associates during the first quarter worth about $799,000. Institutional investors own 98.45% of the company's stock.

Wall Street Analysts Forecast Growth

MANH has been the subject of a number of research analyst reports. Truist Financial upped their price objective on Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Redburn Atlantic lowered Manhattan Associates from a "buy" rating to a "neutral" rating and lowered their price target for the company from $270.00 to $200.00 in a report on Tuesday, June 10th. Loop Capital increased their price objective on Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a research report on Tuesday, July 22nd. Morgan Stanley initiated coverage on Manhattan Associates in a research report on Monday, July 14th. They set an "underweight" rating and a $190.00 target price for the company. Finally, DA Davidson raised their price target on Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $216.67.

Manhattan Associates Trading Down 0.8%

NASDAQ MANH traded down $1.81 on Tuesday, hitting $219.66. 109,808 shares of the company's stock traded hands, compared to its average volume of 822,879. Manhattan Associates, Inc. has a 1-year low of $140.81 and a 1-year high of $312.60. The firm has a market capitalization of $13.34 billion, a PE ratio of 61.53 and a beta of 1.08. The firm's 50-day moving average price is $195.84 and its two-hundred day moving average price is $192.45.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.31 EPS for the quarter, topping the consensus estimate of $1.12 by $0.19. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%. The firm had revenue of $272.42 million during the quarter, compared to analysts' expectations of $263.62 million. During the same period in the previous year, the business earned $1.18 earnings per share. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts anticipate that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

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.