Kennedy Capital Management LLC Invests $2.14 Million in Manhattan Associates, Inc. (NASDAQ:MANH)

Kennedy Capital Management LLC acquired a new position in Manhattan Associates, Inc. (NASDAQ:MANH) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 8,569 shares of the software maker’s stock, valued at approximately $2,144,000.

Other hedge funds have also recently made changes to their positions in the company. CenterBook Partners LP bought a new stake in Manhattan Associates in the 4th quarter valued at about $761,000. Russell Investments Group Ltd. increased its position in Manhattan Associates by 9.1% in the 4th quarter. Russell Investments Group Ltd. now owns 59,852 shares of the software maker’s stock valued at $12,923,000 after buying an additional 4,986 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in Manhattan Associates by 82.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 26,894 shares of the software maker’s stock valued at $5,791,000 after buying an additional 12,124 shares in the last quarter. Vinva Investment Management Ltd increased its position in Manhattan Associates by 69.5% in the 4th quarter. Vinva Investment Management Ltd now owns 39,571 shares of the software maker’s stock valued at $8,570,000 after buying an additional 16,229 shares in the last quarter. Finally, Weiss Asset Management LP bought a new stake in Manhattan Associates in the 4th quarter valued at about $1,417,000. 98.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MANH. StockNews.com raised Manhattan Associates from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Redburn Atlantic began coverage on Manhattan Associates in a report on Tuesday, May 14th. They set a “buy” rating and a $260.00 price objective for the company. Citigroup boosted their price objective on Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. DA Davidson boosted their target price on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Loop Capital boosted their target price on Manhattan Associates from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $257.43.

Manhattan Associates Stock Up 0.9 %

Shares of Manhattan Associates stock traded up $2.21 during trading on Wednesday, reaching $257.21. 35,165 shares of the stock were exchanged, compared to its average volume of 425,759. The stock’s fifty day moving average is $234.46 and its 200 day moving average is $235.52. The firm has a market cap of $15.75 billion, a price-to-earnings ratio of 83.33 and a beta of 1.50. Manhattan Associates, Inc. has a 1 year low of $182.97 and a 1 year high of $266.94.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, topping the consensus estimate of $0.96 by $0.22. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The business had revenue of $265.30 million during the quarter, compared to analyst estimates of $255.83 million. During the same period last year, the business posted $0.63 earnings per share. Manhattan Associates’s quarterly revenue was up 14.8% compared to the same quarter last year. Equities analysts forecast that Manhattan Associates, Inc. will post 3.01 earnings per share for the current year.

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.