Oak Ridge Investments LLC Purchases New Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Oak Ridge Investments LLC purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) in the 3rd quarter, HoldingsChannel reports. The fund purchased 1,450 shares of the software maker’s stock, valued at approximately $408,000.

Other hedge funds have also made changes to their positions in the company. Tobam purchased a new stake in shares of Manhattan Associates in the 1st quarter valued at approximately $25,000. Innealta Capital LLC acquired a new stake in shares of Manhattan Associates during the 2nd quarter valued at $26,000. International Assets Investment Management LLC acquired a new stake in shares of Manhattan Associates during the 2nd quarter valued at $27,000. DT Investment Partners LLC bought a new position in shares of Manhattan Associates during the 2nd quarter valued at $31,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Manhattan Associates during the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $264.35 on Friday. The firm’s 50-day moving average is $275.85 and its 200-day moving average is $248.10. Manhattan Associates, Inc. has a 52-week low of $198.45 and a 52-week high of $307.50. The company has a market cap of $16.15 billion, a price-to-earnings ratio of 75.10 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) 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 company had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. During the same quarter in the previous year, the firm posted $0.79 EPS. The business’s revenue was up 11.9% compared to the same quarter last year. Equities analysts predict that Manhattan Associates, Inc. will post 3.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MANH. Raymond James raised their price target on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Truist Financial raised their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday, October 11th. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. DA Davidson lifted their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Citigroup lifted their target price on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock 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.