Pinebridge Investments L.P. Acquires 22,349 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Pinebridge Investments L.P. boosted its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANHFree Report) by 83.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,033 shares of the software maker’s stock after acquiring an additional 22,349 shares during the quarter. Pinebridge Investments L.P.’s holdings in Manhattan Associates were worth $10,557,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MANH. Norges Bank bought a new stake in shares of Manhattan Associates in the 4th quarter valued at $146,984,000. TD Asset Management Inc boosted its stake in shares of Manhattan Associates by 234.2% in the 4th quarter. TD Asset Management Inc now owns 549,308 shares of the software maker’s stock valued at $118,277,000 after purchasing an additional 384,941 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Manhattan Associates by 16.8% in the 4th quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker’s stock valued at $187,967,000 after purchasing an additional 125,541 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of Manhattan Associates by 1,624.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 113,297 shares of the software maker’s stock valued at $24,395,000 after purchasing an additional 106,726 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Manhattan Associates by 42.3% in the 3rd quarter. Royal Bank of Canada now owns 241,427 shares of the software maker’s stock valued at $47,720,000 after purchasing an additional 71,725 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MANH. DA Davidson upped their price objective on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, May 27th. William Blair reissued a “market perform” rating on shares of Manhattan Associates in a research note on Wednesday, April 24th. Rosenblatt Securities reissued a “neutral” rating and set a $225.00 target price on shares of Manhattan Associates in a research note on Wednesday, April 24th. Finally, Citigroup cut their target price on shares of Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $240.50.

Read Our Latest Report on MANH

Manhattan Associates Price Performance

Shares of MANH stock traded down $0.27 on Thursday, hitting $219.82. The stock had a trading volume of 386,453 shares, compared to its average volume of 397,346. The business has a 50 day moving average of $225.46 and a 200 day moving average of $229.83. The stock has a market cap of $13.53 billion, a price-to-earnings ratio of 71.84 and a beta of 1.48. Manhattan Associates, Inc. has a 12-month low of $180.68 and a 12-month high of $266.94.

Manhattan Associates (NASDAQ:MANHGet Free Report) last announced its earnings results on Tuesday, April 23rd. The software maker reported $0.86 EPS for the quarter, beating the consensus estimate of $0.63 by $0.23. The company had revenue of $254.55 million during the quarter, compared to the consensus estimate of $243.32 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. As a group, research analysts expect that Manhattan Associates, Inc. will post 2.72 earnings per share for the current fiscal year.

Manhattan Associates Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Manhattan Associates (NASDAQ:MANH)

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