Sunbelt Securities Inc. Acquires 283 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Sunbelt Securities Inc. grew its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 57.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 779 shares of the software maker’s stock after acquiring an additional 283 shares during the period. Sunbelt Securities Inc.’s holdings in Manhattan Associates were worth $195,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MANH. LPL Financial LLC lifted its holdings in Manhattan Associates by 82.8% during the 3rd quarter. LPL Financial LLC now owns 32,881 shares of the software maker’s stock worth $6,510,000 after buying an additional 14,892 shares during the period. Mariner LLC lifted its stake in shares of Manhattan Associates by 5.2% in the third quarter. Mariner LLC now owns 7,103 shares of the software maker’s stock worth $1,404,000 after acquiring an additional 349 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in Manhattan Associates by 295.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 13,426 shares of the software maker’s stock valued at $2,654,000 after acquiring an additional 10,030 shares during the last quarter. Treasurer of the State of North Carolina increased its position in Manhattan Associates by 0.4% during the 3rd quarter. Treasurer of the State of North Carolina now owns 28,710 shares of the software maker’s stock valued at $5,675,000 after purchasing an additional 103 shares during the period. Finally, Toronto Dominion Bank raised its holdings in Manhattan Associates by 144.2% during the 3rd quarter. Toronto Dominion Bank now owns 13,246 shares of the software maker’s stock worth $2,618,000 after purchasing an additional 7,822 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock opened at $246.68 on Friday. The stock has a market capitalization of $15.19 billion, a PE ratio of 80.61 and a beta of 1.48. Manhattan Associates, Inc. has a 52 week low of $182.97 and a 52 week high of $266.94. The stock has a 50 day moving average price of $223.73 and a two-hundred day moving average price of $230.98.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, April 23rd. The software maker reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.23. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. The business had revenue of $254.55 million during the quarter, compared to the consensus estimate of $243.32 million. Research analysts forecast that Manhattan Associates, Inc. will post 2.72 EPS for the current year.

Wall Street Analysts Forecast Growth

MANH has been the topic of a number of analyst reports. William Blair reaffirmed a “market perform” rating on shares of Manhattan Associates in a research note on Wednesday, April 24th. Rosenblatt Securities reiterated a “neutral” rating and set a $225.00 price target on shares of Manhattan Associates in a report on Wednesday, April 24th. Redburn Atlantic started coverage on Manhattan Associates in a research note on Tuesday, May 14th. They issued a “buy” rating and a $260.00 price objective on the stock. DA Davidson raised their target price on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Finally, Citigroup lifted their target price on Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Manhattan Associates presently has an average rating of “Moderate Buy” and an average target price of $245.13.

About Manhattan Associates

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.