Allianz Asset Management GmbH Raises Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Allianz Asset Management GmbH grew its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 18.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 143,687 shares of the software maker’s stock after buying an additional 22,845 shares during the period. Allianz Asset Management GmbH owned 0.24% of Manhattan Associates worth $24,864,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Central Pacific Bank Trust Division boosted its stake in Manhattan Associates by 107.3% in the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker’s stock worth $34,000 after purchasing an additional 103 shares during the period. Park Square Financial Group LLC bought a new position in Manhattan Associates in the 4th quarter worth about $38,000. Transce3nd LLC bought a new position in Manhattan Associates in the 4th quarter worth about $41,000. Reyes Financial Architecture Inc. boosted its stake in Manhattan Associates by 42.5% in the 1st quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker’s stock worth $82,000 after purchasing an additional 142 shares during the period. Finally, Harbor Investment Advisory LLC boosted its stake in Manhattan Associates by 57.7% in the 1st quarter. Harbor Investment Advisory LLC now owns 552 shares of the software maker’s stock worth $96,000 after purchasing an additional 202 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $220.28 on Friday. The firm has a market cap of $13.38 billion, a P/E ratio of 61.53 and a beta of 1.08. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60. The business’s 50 day moving average price is $194.26 and its 200-day moving average price is $194.56.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.19. The firm had revenue of $272.42 million for the quarter, compared to analyst estimates of $263.62 million. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $1.18 EPS. As a group, equities analysts predict that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Truist Financial raised their price target on Manhattan Associates from $210.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday. Redburn Atlantic cut Manhattan Associates from a “buy” rating to a “neutral” rating and lowered their price target for the company from $270.00 to $200.00 in a report on Tuesday, June 10th. Robert W. Baird raised their price target on Manhattan Associates from $212.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Raymond James Financial raised their price target on Manhattan Associates from $195.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Loop Capital raised their price target on Manhattan Associates from $170.00 to $200.00 and gave the company a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $216.67.

Manhattan Associates Company 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.