Los Angeles Capital Management LLC Has $42.86 Million Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Los Angeles Capital Management LLC cut its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 9.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 152,330 shares of the software maker’s stock after selling 15,117 shares during the quarter. Los Angeles Capital Management LLC owned about 0.25% of Manhattan Associates worth $42,863,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MANH. Norden Group LLC acquired a new position in shares of Manhattan Associates during the first quarter worth approximately $225,000. Janney Montgomery Scott LLC raised its stake in shares of Manhattan Associates by 5.3% in the first quarter. Janney Montgomery Scott LLC now owns 4,338 shares of the software maker’s stock valued at $1,086,000 after purchasing an additional 218 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Manhattan Associates by 146.5% in the first quarter. Quantbot Technologies LP now owns 1,854 shares of the software maker’s stock valued at $464,000 after purchasing an additional 1,102 shares in the last quarter. SG Americas Securities LLC raised 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 valued at $3,357,000 after purchasing an additional 10,732 shares in the last quarter. Finally, Forsta AP Fonden raised its stake in shares of Manhattan Associates by 3.8% in the first 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 in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Price Performance

Shares of MANH stock traded down $0.19 during trading hours on Friday, hitting $283.48. 284,005 shares of the company’s stock were exchanged, compared to its average volume of 514,590. Manhattan Associates, Inc. has a 52 week low of $199.23 and a 52 week high of $307.50. The stock has a market cap of $17.31 billion, a price-to-earnings ratio of 80.53 and a beta of 1.52. The stock’s 50-day moving average is $277.28 and its 200-day moving average is $249.88.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $262.90 million. During the same quarter in the prior year, the firm earned $0.79 EPS. The company’s revenue was up 11.9% on a year-over-year basis. Equities research analysts forecast 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 recently commented on MANH. Raymond James upped their target price on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Truist Financial upped their target price on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Loop Capital upped their target price on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, DA Davidson upped their target price on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $286.38.

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.