KBC Group NV Purchases New Position in Manhattan Associates, Inc. (NASDAQ:MANH)

KBC Group NV purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANHFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,416 shares of the software maker’s stock, valued at approximately $1,381,000.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Manhattan Associates during the fourth quarter worth about $146,984,000. TD Asset Management Inc increased its stake in Manhattan Associates by 234.2% during the 4th quarter. TD Asset Management Inc now owns 549,308 shares of the software maker’s stock worth $118,277,000 after buying an additional 384,941 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Manhattan Associates by 16.8% during the fourth quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker’s stock valued at $187,967,000 after acquiring an additional 125,541 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Manhattan Associates by 42.3% in the third quarter. Royal Bank of Canada now owns 241,427 shares of the software maker’s stock valued at $47,720,000 after acquiring an additional 71,725 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Manhattan Associates by 1,467.0% in the fourth quarter. Nordea Investment Management AB now owns 66,176 shares of the software maker’s stock worth $14,265,000 after acquiring an additional 61,953 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MANH has been the subject of several recent research reports. Redburn Atlantic assumed coverage on Manhattan Associates in a research note on Tuesday, May 14th. They issued a “buy” rating and a $260.00 price objective for the company. Rosenblatt Securities reissued a “neutral” rating and issued a $225.00 price target on shares of Manhattan Associates in a research note on Wednesday, April 24th. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, May 27th. Citigroup cut their price objective on shares of Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, April 24th. Finally, William Blair restated a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $240.50.

Check Out Our Latest Report on Manhattan Associates

Manhattan Associates Price Performance

NASDAQ:MANH opened at $220.55 on Friday. The company’s 50-day moving average is $224.25 and its two-hundred day moving average is $229.75. Manhattan Associates, Inc. has a 1-year low of $180.88 and a 1-year high of $266.94. The firm has a market capitalization of $13.58 billion, a price-to-earnings ratio of 72.08 and a beta of 1.48.

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, beating the consensus estimate of $0.63 by $0.23. The firm had revenue of $254.55 million for the quarter, compared to analyst estimates of $243.32 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. As a group, equities analysts anticipate that Manhattan Associates, Inc. will post 2.72 earnings per share 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

Want to see what other hedge funds are holding MANH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manhattan Associates, Inc. (NASDAQ:MANHFree Report).

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

Receive News & Ratings for Manhattan Associates Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manhattan Associates and related companies with MarketBeat.com's FREE daily email newsletter.