Wakefield Asset Management LLLP Acquires Shares of 2,338 Manhattan Associates, Inc. (NASDAQ:MANH)

Wakefield Asset Management LLLP acquired a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,338 shares of the software maker's stock, valued at approximately $405,000.

Other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its holdings in 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 valued at $452,321,000 after buying an additional 841,276 shares during the period. Norges Bank purchased a new position in Manhattan Associates during the fourth quarter valued at approximately $201,377,000. Franklin Resources Inc. increased its holdings in Manhattan Associates by 43.2% during the fourth quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker's stock valued at $517,917,000 after buying an additional 578,295 shares during the period. Lazard Asset Management LLC boosted its stake in Manhattan Associates by 2,075.5% in the fourth quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker's stock valued at $107,842,000 after acquiring an additional 380,722 shares in the last quarter. Finally, FMR LLC boosted its stake in Manhattan Associates by 16.2% in the fourth 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 in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock traded down $2.53 during trading on Friday, hitting $217.75. 479,285 shares of the company's stock were exchanged, compared to its average volume of 594,404. The business has a 50-day simple moving average of $195.27 and a 200-day simple moving average of $193.31. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60. The stock has a market capitalization of $13.22 billion, a price-to-earnings ratio of 60.82 and a beta of 1.08.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.19. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The company had revenue of $272.42 million during the quarter, compared to analysts' expectations of $263.62 million. During the same quarter in the previous year, the company earned $1.18 earnings per share. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities analysts anticipate that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Citigroup restated a "neutral" rating and issued a $200.00 target price (up from $177.00) on shares of Manhattan Associates in a research note on Wednesday, July 16th. Redburn Atlantic downgraded shares of Manhattan Associates from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $270.00 to $200.00 in a research note on Tuesday, June 10th. Loop Capital lifted their price objective on shares of Manhattan Associates from $170.00 to $200.00 and gave the stock a "hold" rating in a research note on Tuesday, July 22nd. Raymond James Financial lifted their price objective on shares of Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, DA Davidson lifted their price objective on shares of Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday. 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 company. According to MarketBeat, Manhattan Associates has a consensus rating of "Hold" and an average target price 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.