Harvest Fund Management Co. Ltd Buys 1,453 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Harvest Fund Management Co. Ltd increased its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 76.6% during the third quarter, Holdings Channel.com reports. The firm owned 3,351 shares of the software maker’s stock after acquiring an additional 1,453 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Manhattan Associates were worth $943,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in MANH. Price T Rowe Associates Inc. MD raised its position in Manhattan Associates by 7.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 426,729 shares of the software maker’s stock worth $106,782,000 after purchasing an additional 29,063 shares during the period. Ascent Group LLC raised its position in Manhattan Associates by 11.4% in the 1st quarter. Ascent Group LLC now owns 1,030 shares of the software maker’s stock worth $258,000 after purchasing an additional 105 shares during the period. Bayesian Capital Management LP purchased a new position in Manhattan Associates in the 1st quarter worth $306,000. Kennedy Capital Management LLC purchased a new position in Manhattan Associates in the 1st quarter worth $2,144,000. Finally, Janus Henderson Group PLC increased its position in shares of Manhattan Associates by 18.7% in the first quarter. Janus Henderson Group PLC now owns 2,746 shares of the software maker’s stock valued at $687,000 after acquiring an additional 432 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Trading Up 3.7 %

Shares of MANH opened at $290.74 on Tuesday. Manhattan Associates, Inc. has a 1-year low of $199.23 and a 1-year high of $307.50. The firm’s 50-day moving average price is $281.33 and its 200-day moving average price is $255.41. The firm has a market capitalization of $17.76 billion, a price-to-earnings ratio of 82.60 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data 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 net margin of 21.38% and a return on equity of 84.55%. The business had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. During the same quarter in the previous year, the firm posted $0.79 earnings per share. Manhattan Associates’s quarterly revenue was up 11.9% on a year-over-year basis. On average, research analysts forecast that Manhattan Associates, Inc. will post 3.4 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Loop Capital boosted their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. DA Davidson boosted their price objective 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. Piper Sandler assumed coverage on shares of Manhattan Associates in a research report on Monday. They issued an “overweight” rating and a $326.00 price objective on the stock. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Truist Financial boosted their price objective on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $290.78.

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.