Assetmark Inc. Acquires 1,288 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Assetmark Inc. boosted its holdings in Manhattan Associates, Inc. (NASDAQ:MANHFree Report) by 18,400.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,295 shares of the software maker’s stock after purchasing an additional 1,288 shares during the period. Assetmark Inc.’s holdings in Manhattan Associates were worth $279,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of Manhattan Associates by 259.4% during the fourth quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock valued at $25,000 after acquiring an additional 83 shares during the last quarter. Bear Mountain Capital Inc. bought a new position in shares of Manhattan Associates during the fourth quarter valued at about $26,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Manhattan Associates during the fourth quarter valued at about $26,000. Lindbrook Capital LLC raised its stake in shares of Manhattan Associates by 28.8% during the fourth quarter. Lindbrook Capital LLC now owns 206 shares of the software maker’s stock valued at $44,000 after acquiring an additional 46 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Manhattan Associates by 25.9% during the fourth quarter. UMB Bank n.a. now owns 282 shares of the software maker’s stock valued at $61,000 after acquiring an additional 58 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MANH shares. Rosenblatt Securities reiterated a “neutral” rating and set a $225.00 price target on shares of Manhattan Associates in a research report on Wednesday, April 24th. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday. Citigroup reduced their price target on shares of Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. William Blair restated a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Finally, Redburn Atlantic initiated coverage on shares of Manhattan Associates in a report on Tuesday, May 14th. They set a “buy” rating and a $260.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $240.50.

Read Our Latest Report on Manhattan Associates

Manhattan Associates Stock Performance

Shares of NASDAQ MANH opened at $221.46 on Thursday. The firm’s fifty day moving average is $228.79 and its two-hundred day moving average is $229.94. Manhattan Associates, Inc. has a 52-week low of $176.53 and a 52-week high of $266.94. The company has a market cap of $13.64 billion, a P/E ratio of 72.37 and a beta of 1.45.

Manhattan Associates (NASDAQ:MANHGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The software maker reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.23. The firm had revenue of $254.55 million during the quarter, compared to analysts’ expectations of $243.32 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. As a group, analysts forecast that Manhattan Associates, Inc. will post 2.72 EPS for the current fiscal year.

Manhattan Associates 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.

Further Reading

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

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