Arden Trust Co Acquires New Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Arden Trust Co bought a new position in Manhattan Associates, Inc. (NASDAQ:MANH) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 893 shares of the software maker’s stock, valued at approximately $223,000.

A number of other institutional investors have also modified their holdings of MANH. Blue Trust Inc. increased its holdings in Manhattan Associates by 259.4% during the 4th quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock worth $25,000 after purchasing an additional 83 shares during the period. Bear Mountain Capital Inc. bought a new stake in shares of Manhattan Associates in the fourth quarter valued at about $26,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Manhattan Associates in the fourth quarter worth about $26,000. Quarry LP purchased a new position in Manhattan Associates during the 4th quarter valued at about $38,000. Finally, Lindbrook Capital LLC raised its holdings in shares of Manhattan Associates by 28.8% in the 4th quarter. Lindbrook Capital LLC now owns 206 shares of the software maker’s stock valued at $44,000 after purchasing an additional 46 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Trading Up 2.0 %

Shares of NASDAQ MANH traded up $4.62 during midday trading on Tuesday, reaching $237.37. The company had a trading volume of 380,159 shares, compared to its average volume of 392,097. Manhattan Associates, Inc. has a 1 year low of $182.97 and a 1 year high of $266.94. The business’s 50-day simple moving average is $222.35 and its 200 day simple moving average is $230.12. The stock has a market cap of $14.61 billion, a P/E ratio of 77.57 and a beta of 1.48.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, April 23rd. The software maker reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.23. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. The firm had revenue of $254.55 million for the quarter, compared to the consensus estimate of $243.32 million. Analysts predict that Manhattan Associates, Inc. will post 2.72 earnings per share for the current year.

Analyst Ratings Changes

MANH has been the topic of several research reports. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, May 27th. Redburn Atlantic assumed coverage on Manhattan Associates in a research report on Tuesday, May 14th. They issued a “buy” rating and a $260.00 price target for the company. William Blair reaffirmed a “market perform” rating on shares of Manhattan Associates in a research report on Wednesday, April 24th. DA Davidson lifted their target price on Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $225.00 price target on shares of Manhattan Associates in a research report on Wednesday, April 24th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $240.50.

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.