Bank Julius Baer & Co. Ltd Zurich lowered its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 49,197 shares of the software maker's stock after selling 2,671 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned 0.08% of Manhattan Associates worth $8,626,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in 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 purchasing an additional 50,538 shares during the last quarter. FMR LLC lifted its stake in shares of Manhattan Associates by 16.2% in the 4th quarter. FMR LLC now owns 2,227,669 shares of the software maker's stock valued at $602,005,000 after acquiring an additional 310,257 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Manhattan Associates by 43.2% in the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker's stock valued at $517,917,000 after acquiring an additional 578,295 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Manhattan Associates by 3.1% in the 4th quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker's stock valued at $502,960,000 after acquiring an additional 55,334 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Manhattan Associates by 101.1% in 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 during the last quarter. Institutional investors own 98.45% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on MANH shares. Robert W. Baird upped their target price on Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Raymond James Financial upped their target price on Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday. Redburn Atlantic downgraded Manhattan Associates from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $270.00 to $200.00 in a report on Tuesday, June 10th. Citigroup restated a "neutral" rating and issued a $200.00 price target (up previously from $177.00) on shares of Manhattan Associates in a research note on Wednesday, July 16th. Finally, Loop Capital upped their price target on Manhattan Associates from $170.00 to $200.00 and gave the stock a "hold" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $216.67.
Read Our Latest Report on MANH
Manhattan Associates Trading Down 0.5%
Shares of Manhattan Associates stock traded down $1.05 on Friday, hitting $219.24. 212,081 shares of the company traded hands, compared to its average volume of 828,046. The company has a market cap of $13.31 billion, a PE ratio of 61.40 and a beta of 1.08. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60. The stock's 50 day moving average price is $194.26 and its 200-day moving average price is $194.56.
Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $263.62 million. During the same period in the prior year, the firm earned $1.18 EPS. The firm's revenue was up 2.7% on a year-over-year basis. As a group, research analysts anticipate that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.
About Manhattan Associates
(
Free Report)
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.
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