E Fund Management Hong Kong Co. Ltd. Makes New $84,000 Investment in Manhattan Associates, Inc. (NASDAQ:MANH)

E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the third quarter, HoldingsChannel.com reports. The firm bought 300 shares of the software maker’s stock, valued at approximately $84,000.

Other institutional investors also recently bought and sold shares of the company. Tobam purchased a new stake in Manhattan Associates during the first quarter worth $25,000. Innealta Capital LLC purchased a new stake in Manhattan Associates during the second quarter worth $26,000. International Assets Investment Management LLC purchased a new stake in Manhattan Associates during the second quarter worth $27,000. Ashton Thomas Private Wealth LLC purchased a new stake in Manhattan Associates during the second quarter worth $31,000. Finally, DT Investment Partners LLC purchased a new stake in Manhattan Associates during the second quarter worth $31,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on MANH shares. Raymond James boosted their target price on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Citigroup upped their price objective on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Loop Capital upped their price objective on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Robert W. Baird upped their price objective on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $286.38.

Manhattan Associates Trading Down 4.1 %

Manhattan Associates stock opened at $265.79 on Thursday. The firm has a market capitalization of $16.36 billion, a P/E ratio of 86.86 and a beta of 1.50. The stock has a fifty day moving average price of $275.74 and a 200 day moving average price of $247.76. Manhattan Associates, Inc. has a 52 week low of $189.16 and a 52 week high of $307.50.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating the consensus estimate of $1.06 by $0.29. The firm had revenue of $266.70 million during the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a return on equity of 86.65% and a net margin of 21.38%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.79 earnings per share. As a group, equities analysts predict that Manhattan Associates, Inc. will post 3.01 EPS for the current year.

Manhattan Associates 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.