Azzad Asset Management Inc. ADV Invests $315,000 in Manhattan Associates, Inc. (NASDAQ:MANH)

Azzad Asset Management Inc. ADV acquired a new stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,818 shares of the software maker's stock, valued at approximately $315,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Manhattan Associates by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker's stock worth $1,811,299,000 after purchasing an additional 50,538 shares during the period. FMR LLC increased its stake in shares of Manhattan Associates by 16.2% in the fourth quarter. FMR LLC now owns 2,227,669 shares of the software maker's stock worth $602,005,000 after buying an additional 310,257 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Manhattan Associates by 43.2% during the fourth quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker's stock worth $517,917,000 after purchasing an additional 578,295 shares during the last quarter. Invesco Ltd. increased its holdings in Manhattan Associates by 3.1% in the fourth quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker's stock valued at $502,960,000 after buying an additional 55,334 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Manhattan Associates by 101.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker's stock valued at $452,321,000 after acquiring an additional 841,276 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock traded down $3.02 during midday trading on Thursday, reaching $188.50. 709,659 shares of the company's stock traded hands, compared to its average volume of 633,194. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60. The company's 50 day simple moving average is $182.48 and its 200 day simple moving average is $209.92. The company has a market cap of $11.45 billion, a price-to-earnings ratio of 53.86 and a beta of 1.08.

Analysts Set New Price Targets

MANH has been the topic of a number of research reports. Loop Capital reiterated a "hold" rating and set a $170.00 price target (down from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. Piper Sandler cut their target price on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a research report on Friday, March 14th. Robert W. Baird set a $212.00 price target on shares of Manhattan Associates and gave the stock an "outperform" rating in a research report on Wednesday, May 21st. Truist Financial raised their price objective on Manhattan Associates from $190.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Finally, DA Davidson boosted their target price on shares of Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Manhattan Associates currently has an average rating of "Moderate Buy" and a consensus target price of $208.88.

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.