Twin Capital Management Inc. Makes New $799,000 Investment in Manhattan Associates, Inc. (NASDAQ:MANH)

Twin Capital Management Inc. acquired a new stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 4,619 shares of the software maker's stock, valued at approximately $799,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake 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 purchasing an additional 50,538 shares during the last quarter. FMR LLC raised its stake in shares of Manhattan Associates by 16.2% during the fourth quarter. FMR LLC now owns 2,227,669 shares of the software maker's stock worth $602,005,000 after purchasing an additional 310,257 shares during the last quarter. Franklin Resources Inc. raised its stake 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. raised its stake in shares of Manhattan Associates by 3.1% during the fourth quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker's stock worth $502,960,000 after purchasing an additional 55,334 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Manhattan Associates by 101.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker's stock worth $452,321,000 after purchasing an additional 841,276 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Stock Up 0.7%

Shares of MANH traded up $1.63 during trading hours on Thursday, reaching $219.34. 326,067 shares of the company traded hands, compared to its average volume of 826,028. The stock has a market capitalization of $13.32 billion, a PE ratio of 61.27 and a beta of 1.08. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60. The stock has a fifty day simple moving average of $193.79 and a 200 day simple moving average of $194.40.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.19. Manhattan Associates had a return on equity of 83.27% and a net margin of 20.91%. The business had revenue of $272.42 million for the quarter, compared to analyst estimates of $263.62 million. During the same quarter last year, the company earned $1.18 earnings per share. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. Research analysts predict that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MANH shares. Raymond James Financial upped their price target on Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday. Loop Capital increased their price objective on Manhattan Associates from $170.00 to $200.00 and gave the stock a "hold" rating in a research report on Tuesday. Truist Financial increased their price objective on Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday. Morgan Stanley began coverage on Manhattan Associates in a research report on Monday, July 14th. They issued an "underweight" rating and a $190.00 price objective for the company. Finally, Redburn Atlantic cut Manhattan Associates from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $270.00 to $200.00 in a research report on Tuesday, June 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $216.67.

Manhattan Associates 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.