Delap Wealth Advisory LLC Takes $200,000 Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Delap Wealth Advisory LLC purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 800 shares of the software maker’s stock, valued at approximately $200,000.

Several other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of Manhattan Associates by 259.4% during the 4th quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock valued at $25,000 after purchasing an additional 83 shares during the last quarter. Tobam bought a new stake in shares of Manhattan Associates during the first quarter worth $25,000. Bear Mountain Capital Inc. acquired a new position in shares of Manhattan Associates during the fourth quarter worth $26,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Manhattan Associates in the 4th quarter valued at $26,000. Finally, Benjamin Edwards Inc. acquired a new stake in shares of Manhattan Associates during the 1st quarter valued at $27,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com raised Manhattan Associates from a “hold” rating to a “buy” rating in a research note on Wednesday. Citigroup raised their price objective on Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. William Blair reiterated a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Loop Capital boosted their price target on shares of Manhattan Associates from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, DA Davidson raised their price target on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $257.43.

Manhattan Associates Stock Performance

MANH stock traded up $10.02 during mid-day trading on Friday, hitting $256.89. The company had a trading volume of 355,581 shares, compared to its average volume of 423,990. Manhattan Associates, Inc. has a 12 month low of $182.97 and a 12 month high of $266.94. The stock’s fifty day moving average price is $232.77 and its two-hundred day moving average price is $234.07. The firm has a market cap of $15.82 billion, a PE ratio of 80.68 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.22. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The company had revenue of $265.30 million for the quarter, compared to analysts’ expectations of $255.83 million. During the same quarter in the previous year, the firm posted $0.63 EPS. Manhattan Associates’s revenue was up 14.8% on a year-over-year basis. Equities analysts anticipate that Manhattan Associates, Inc. will post 2.72 earnings per share for the current 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.