Manhattan Associates, Inc. (NASDAQ:MANH) Shares Bought by KBC Group NV

KBC Group NV lifted its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 70.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,355 shares of the software maker’s stock after buying an additional 11,762 shares during the quarter. KBC Group NV’s holdings in Manhattan Associates were worth $7,979,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Innealta Capital LLC acquired a new position in Manhattan Associates during the 2nd quarter worth approximately $26,000. International Assets Investment Management LLC acquired a new position in shares of Manhattan Associates during the second quarter worth $27,000. DT Investment Partners LLC acquired a new stake in Manhattan Associates in the second quarter valued at $31,000. Ashton Thomas Private Wealth LLC purchased a new stake in Manhattan Associates during the 2nd quarter worth about $31,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Manhattan Associates during the 3rd quarter worth about $34,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Stock Down 2.5 %

Shares of MANH stock opened at $272.62 on Friday. The stock’s 50-day moving average price is $279.80 and its 200 day moving average price is $252.45. The stock has a market capitalization of $16.65 billion, a PE ratio of 77.45 and a beta of 1.52. Manhattan Associates, Inc. has a 52-week low of $199.23 and a 52-week high of $307.50.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping the consensus estimate of $1.06 by $0.29. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The business had revenue of $266.70 million during the quarter, compared to analysts’ expectations of $262.90 million. During the same quarter in the prior year, the business earned $0.79 earnings per share. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. Analysts expect that Manhattan Associates, Inc. will post 3.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MANH has been the topic of several research analyst reports. Truist Financial raised their target price on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Raymond James boosted their price objective on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. DA Davidson boosted their price target on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Loop Capital raised their price objective on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.38.

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.