Allianz Asset Management GmbH Acquires 22,845 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Allianz Asset Management GmbH raised its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 18.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 143,687 shares of the software maker's stock after buying an additional 22,845 shares during the period. Allianz Asset Management GmbH owned about 0.24% of Manhattan Associates worth $24,864,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. DAVENPORT & Co LLC purchased a new stake in Manhattan Associates during the first quarter valued at approximately $214,000. Prudential PLC boosted its position in shares of Manhattan Associates by 40.0% in the fourth quarter. Prudential PLC now owns 23,936 shares of the software maker's stock worth $6,468,000 after purchasing an additional 6,835 shares during the period. SG Americas Securities LLC boosted its position in shares of Manhattan Associates by 876.3% in the first quarter. SG Americas Securities LLC now owns 7,615 shares of the software maker's stock worth $1,318,000 after purchasing an additional 6,835 shares during the period. Vanguard Group Inc. boosted its position in shares of Manhattan Associates by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker's stock worth $1,811,299,000 after acquiring an additional 50,538 shares during the last quarter. Finally, Abacus FCF Advisors LLC boosted its position in shares of Manhattan Associates by 170.0% during the first quarter. Abacus FCF Advisors LLC now owns 32,865 shares of the software maker's stock worth $5,687,000 after acquiring an additional 20,691 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Citigroup restated a "neutral" rating and set a $200.00 target price (up previously from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Loop Capital upped their target price on shares of Manhattan Associates from $170.00 to $200.00 and gave the stock a "hold" rating in a research report on Tuesday. Morgan Stanley initiated coverage on shares of Manhattan Associates in a research report on Monday, July 14th. They set an "underweight" rating and a $190.00 target price for the company. Truist Financial increased their price objective on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Robert W. Baird increased their price objective on shares of Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Manhattan Associates currently has an average rating of "Hold" and an average price target of $216.67.

Manhattan Associates Price Performance

Shares of MANH traded down $2.53 during midday trading on Friday, hitting $217.75. The stock had a trading volume of 479,285 shares, compared to its average volume of 594,404. Manhattan Associates, Inc. has a 1 year low of $140.81 and a 1 year high of $312.60. The firm has a market cap of $13.22 billion, a PE ratio of 60.82 and a beta of 1.08. The stock's 50 day moving average is $195.27 and its 200 day moving average is $193.86.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted 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. The company had revenue of $272.42 million for the quarter, compared to the consensus estimate of $263.62 million. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The firm's revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.18 EPS. As a group, equities research analysts expect that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

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.