Van ECK Associates Corp Buys 1,717 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Van ECK Associates Corp increased its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 11.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,314 shares of the software maker’s stock after acquiring an additional 1,717 shares during the quarter. Van ECK Associates Corp’s holdings in Manhattan Associates were worth $4,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Norden Group LLC purchased a new position in shares of Manhattan Associates in the first quarter worth $225,000. Janney Montgomery Scott LLC raised its stake in shares of Manhattan Associates by 5.3% during the first quarter. Janney Montgomery Scott LLC now owns 4,338 shares of the software maker’s stock valued at $1,086,000 after acquiring an additional 218 shares during the last quarter. Quantbot Technologies LP boosted its holdings in shares of Manhattan Associates by 146.5% during the first quarter. Quantbot Technologies LP now owns 1,854 shares of the software maker’s stock worth $464,000 after purchasing an additional 1,102 shares during the period. SG Americas Securities LLC grew its stake in shares of Manhattan Associates by 399.7% in the first quarter. SG Americas Securities LLC now owns 13,417 shares of the software maker’s stock worth $3,357,000 after purchasing an additional 10,732 shares during the last quarter. Finally, Forsta AP Fonden raised its position in Manhattan Associates by 3.8% during the 1st quarter. Forsta AP Fonden now owns 38,598 shares of the software maker’s stock valued at $9,658,000 after purchasing an additional 1,400 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $283.48 on Friday. The company has a market capitalization of $17.31 billion, a price-to-earnings ratio of 80.53 and a beta of 1.52. Manhattan Associates, Inc. has a one year low of $199.23 and a one year high of $307.50. The company’s 50-day moving average is $277.28 and its 200 day moving average is $249.74.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, beating 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 company had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. During the same quarter last year, the firm earned $0.79 earnings per share. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, research analysts predict that Manhattan Associates, Inc. will post 3.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MANH. DA Davidson lifted their price objective on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. 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. Truist Financial increased their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Robert W. Baird upped their price target on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Citigroup raised their price objective on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $286.38.

Manhattan Associates 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.