Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 116.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,265 shares of the software maker's stock after buying an additional 14,104 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Manhattan Associates were worth $6,479,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the company. Tobam acquired a new position in Manhattan Associates in the 1st quarter valued at $25,000. Benjamin Edwards Inc. purchased a new stake in shares of Manhattan Associates during the first quarter worth $27,000. Contravisory Investment Management Inc. acquired a new stake in shares of Manhattan Associates in the first quarter valued at about $31,000. DT Investment Partners LLC purchased a new position in shares of Manhattan Associates in the second quarter worth about $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Manhattan Associates in the second quarter worth about $37,000. Institutional investors and hedge funds own 98.45% of the company's stock.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. DA Davidson upped their price objective on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. StockNews.com cut Manhattan Associates from a "buy" rating to a "hold" rating in a report on Thursday, August 1st. Citigroup boosted their price objective on Manhattan Associates from $220.00 to $257.00 and gave the stock a "neutral" rating in a research note on Friday, June 28th. Redburn Atlantic initiated coverage on Manhattan Associates in a research note on Tuesday, May 14th. They issued a "buy" rating and a $260.00 target price for the company. Finally, Loop Capital lifted their price target on Manhattan Associates from $250.00 to $265.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $257.43.
View Our Latest Report on Manhattan Associates
Manhattan Associates Stock Up 0.4 %
NASDAQ:MANH traded up $1.07 on Friday, reaching $264.43. The company's stock had a trading volume of 491,661 shares, compared to its average volume of 413,109. Manhattan Associates, Inc. has a 12-month low of $182.97 and a 12-month high of $266.94. The stock has a 50 day moving average price of $246.75 and a 200 day moving average price of $238.85. The firm has a market cap of $16.28 billion, a price-to-earnings ratio of 86.50 and a beta of 1.50.
Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.22. The firm had revenue of $265.30 million for the quarter, compared to analyst estimates of $255.83 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. Manhattan Associates's revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 EPS. Equities research analysts expect that Manhattan Associates, Inc. will post 3.01 EPS for the current fiscal year.
Insider Activity
In related news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the completion of the transaction, the executive vice president now owns 46,287 shares of the company's stock, valued at approximately $11,872,615.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.72% of the company's stock.
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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