M&G Plc Invests $77.43 Million in Manhattan Associates, Inc. (NASDAQ:MANH)

M&G Plc acquired a new position in Manhattan Associates, Inc. (NASDAQ:MANH) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 309,732 shares of the software maker’s stock, valued at approximately $77,433,000.

Several other institutional investors have also recently made changes to their positions in MANH. CenterBook Partners LP purchased a new stake in Manhattan Associates in the 4th quarter worth approximately $761,000. Russell Investments Group Ltd. increased its holdings in Manhattan Associates by 9.1% in the 4th quarter. Russell Investments Group Ltd. now owns 59,852 shares of the software maker’s stock worth $12,923,000 after acquiring an additional 4,986 shares in the last quarter. Highland Capital Management LLC purchased a new stake in Manhattan Associates in the 4th quarter worth approximately $1,142,000. Nomura Asset Management Co. Ltd. increased its holdings in Manhattan Associates by 82.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 26,894 shares of the software maker’s stock worth $5,791,000 after acquiring an additional 12,124 shares in the last quarter. Finally, Vinva Investment Management Ltd increased its holdings in Manhattan Associates by 69.5% in the 4th quarter. Vinva Investment Management Ltd now owns 39,571 shares of the software maker’s stock worth $8,570,000 after acquiring an additional 16,229 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

MANH traded down $0.46 on Friday, hitting $218.59. The company had a trading volume of 508,964 shares, compared to its average volume of 488,575. The stock has a fifty day moving average price of $231.40 and a 200-day moving average price of $233.12. Manhattan Associates, Inc. has a 12-month low of $182.97 and a 12-month high of $266.94. The stock has a market capitalization of $13.46 billion, a price-to-earnings ratio of 71.43 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, April 23rd. The software maker reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.23. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. The business had revenue of $254.55 million for the quarter, compared to analyst estimates of $243.32 million. Analysts forecast that Manhattan Associates, Inc. will post 2.72 EPS for the current fiscal year.

Analyst Ratings Changes

MANH has been the subject of a number of research analyst reports. Rosenblatt Securities reaffirmed a “neutral” rating and set a $225.00 price objective on shares of Manhattan Associates in a report on Wednesday, April 24th. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, May 27th. William Blair reaffirmed a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. 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 objective for the company. Finally, Citigroup increased their price objective on shares of Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.86.

About Manhattan Associates

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.