M&G Investment Management Ltd. Has $72.67 Million Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

M&G Investment Management Ltd. trimmed its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 8.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 338,017 shares of the software maker's stock after selling 29,765 shares during the quarter. M&G Investment Management Ltd. owned about 0.55% of Manhattan Associates worth $72,674,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Lindbrook Capital LLC raised its position in Manhattan Associates by 28.8% in the fourth quarter. Lindbrook Capital LLC now owns 206 shares of the software maker's stock worth $44,000 after acquiring an additional 46 shares in the last quarter. Signaturefd LLC boosted its stake in Manhattan Associates by 4.7% in the 3rd quarter. Signaturefd LLC now owns 1,274 shares of the software maker's stock worth $252,000 after buying an additional 57 shares during the last quarter. UMB Bank n.a. boosted its stake in Manhattan Associates by 25.9% in the 4th quarter. UMB Bank n.a. now owns 282 shares of the software maker's stock worth $61,000 after buying an additional 58 shares during the last quarter. Raleigh Capital Management Inc. lifted its stake in shares of Manhattan Associates by 19.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 395 shares of the software maker's stock valued at $78,000 after purchasing an additional 64 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its stake in shares of Manhattan Associates by 3.4% in the 4th quarter. QRG Capital Management Inc. now owns 2,424 shares of the software maker's stock valued at $522,000 after purchasing an additional 80 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Redburn Atlantic started coverage on shares of Manhattan Associates in a research note on Tuesday. They issued a "buy" rating and a $260.00 target price for the company. DA Davidson raised Manhattan Associates from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $220.00 to $240.00 in a report on Thursday, April 25th. Truist Financial boosted their price target on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday, January 31st. William Blair reaffirmed a "market perform" rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Finally, Rosenblatt Securities reiterated a "neutral" rating and set a $225.00 price objective on shares of Manhattan Associates in a research report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $238.00.

Manhattan Associates Stock Performance

Shares of MANH traded up $6.81 during mid-day trading on Wednesday, hitting $223.45. The company's stock had a trading volume of 315,429 shares, compared to its average volume of 388,658. Manhattan Associates, Inc. has a one year low of $170.63 and a one year high of $266.94. The firm has a market capitalization of $13.76 billion, a PE ratio of 73.02 and a beta of 1.45. The stock's 50-day moving average is $234.12 and its two-hundred day moving average is $228.41.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its earnings results on Tuesday, April 23rd. The software maker reported $0.86 EPS for the quarter, topping the consensus estimate of $0.63 by $0.23. The firm had revenue of $254.55 million during the quarter, compared to analysts' expectations of $243.32 million. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. Analysts expect that Manhattan Associates, Inc. will post 2.72 EPS for the current fiscal year.

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.