Kennedy Capital Management LLC Takes Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Kennedy Capital Management LLC acquired a new position in Manhattan Associates, Inc. (NASDAQ:MANH) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,569 shares of the software maker’s stock, valued at approximately $2,144,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. grew its position in shares of Manhattan Associates by 259.4% in the 4th quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock worth $25,000 after buying an additional 83 shares during the last quarter. Tobam purchased a new stake in Manhattan Associates during the 1st quarter worth approximately $25,000. Bear Mountain Capital Inc. purchased a new stake in Manhattan Associates during the 4th quarter worth approximately $26,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Manhattan Associates during the 4th quarter worth approximately $26,000. Finally, Benjamin Edwards Inc. purchased a new stake in Manhattan Associates during the 1st quarter worth approximately $27,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

Shares of MANH traded up $2.21 during trading hours on Wednesday, hitting $257.21. The stock had a trading volume of 35,165 shares, compared to its average volume of 425,759. The firm has a 50-day moving average price of $234.46 and a 200 day moving average price of $235.52. Manhattan Associates, Inc. has a fifty-two week low of $182.97 and a fifty-two week high of $266.94. The firm has a market capitalization of $15.75 billion, a price-to-earnings ratio of 83.33 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.22. The firm had revenue of $265.30 million during the quarter, compared to analysts’ expectations of $255.83 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The business’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.63 EPS. As a group, analysts predict that Manhattan Associates, Inc. will post 3.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MANH. DA Davidson boosted their target price on shares of Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Loop Capital boosted their target price on shares of Manhattan Associates from $250.00 to $265.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. William Blair reissued a “market perform” rating on shares of Manhattan Associates in a research report on Wednesday, April 24th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $225.00 price objective on shares of Manhattan Associates in a report on Wednesday, April 24th. Finally, StockNews.com raised shares of Manhattan Associates from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $257.43.

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.