PAX Financial Group LLC Buys New Shares in Manhattan Associates, Inc. (NASDAQ:MANH)

PAX Financial Group LLC bought a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,220 shares of the software maker's stock, valued at approximately $557,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. DAVENPORT & Co LLC purchased a new position in shares of Manhattan Associates in the 1st quarter worth $214,000. Prudential PLC lifted its holdings in shares of Manhattan Associates by 40.0% in the 4th quarter. Prudential PLC now owns 23,936 shares of the software maker's stock valued at $6,468,000 after acquiring an additional 6,835 shares during the last quarter. SG Americas Securities LLC grew its position in 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 acquiring an additional 6,835 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in Manhattan Associates in the fourth quarter worth about $703,000. Finally, Vanguard Group Inc. increased 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 acquiring an additional 50,538 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MANH shares. Loop Capital reiterated a "hold" rating and issued a $170.00 target price (down previously from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. Citigroup reaffirmed a "neutral" rating and set a $200.00 price target (up from $177.00) on shares of Manhattan Associates in a research note on Wednesday. Robert W. Baird increased their price objective on shares of Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday. DA Davidson raised their price target on Manhattan Associates from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Finally, Morgan Stanley began coverage on shares of Manhattan Associates in a research note on Monday. They issued an "underweight" rating and a $190.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $210.56.

Manhattan Associates Stock Performance

NASDAQ:MANH traded up $3.34 during midday trading on Thursday, reaching $203.33. 242,509 shares of the stock traded hands, compared to its average volume of 638,062. Manhattan Associates, Inc. has a 12-month low of $140.81 and a 12-month high of $312.60. The business has a 50-day moving average of $192.88 and a two-hundred day moving average of $196.82. The stock has a market capitalization of $12.35 billion, a PE ratio of 58.06 and a beta of 1.08.

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.