Vinva Investment Management Ltd Acquires 3,557 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Vinva Investment Management Ltd increased its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 8.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,308 shares of the software maker’s stock after acquiring an additional 3,557 shares during the quarter. Vinva Investment Management Ltd owned 0.08% of Manhattan Associates worth $13,258,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Fiduciary Trust Co raised its holdings in shares of Manhattan Associates by 109.0% during the third quarter. Fiduciary Trust Co now owns 3,377 shares of the software maker’s stock valued at $950,000 after purchasing an additional 1,761 shares during the period. CreativeOne Wealth LLC boosted its holdings in Manhattan Associates by 472.3% in the third quarter. CreativeOne Wealth LLC now owns 4,796 shares of the software maker’s stock worth $1,349,000 after acquiring an additional 3,958 shares in the last quarter. Freedom Investment Management Inc. grew its stake in Manhattan Associates by 3.2% in the third quarter. Freedom Investment Management Inc. now owns 2,203 shares of the software maker’s stock valued at $620,000 after acquiring an additional 68 shares during the period. Townsquare Capital LLC increased its holdings in shares of Manhattan Associates by 16.2% during the third quarter. Townsquare Capital LLC now owns 1,901 shares of the software maker’s stock valued at $535,000 after acquiring an additional 265 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Manhattan Associates during the third quarter worth approximately $58,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

MANH stock opened at $287.68 on Thursday. Manhattan Associates, Inc. has a fifty-two week low of $199.23 and a fifty-two week high of $307.50. The stock has a fifty day moving average of $281.65 and a 200-day moving average of $255.91. The company has a market capitalization of $17.57 billion, a price-to-earnings ratio of 81.73 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share 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 firm 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 company earned $0.79 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. Equities analysts predict that Manhattan Associates, Inc. will post 3.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MANH shares. 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 note on Wednesday, October 23rd. Robert W. Baird boosted their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Truist Financial lifted their price target on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Citigroup increased their price objective on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Finally, Raymond James upped their price target on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates presently has a consensus rating of “Moderate Buy” and an average target price of $290.78.

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.