Magnetar Financial LLC Makes New Investment in Manhattan Associates, Inc. $MANH

Magnetar Financial LLC purchased a new position in Manhattan Associates, Inc. (NASDAQ:MANH) in the 2nd quarter, Holdings Channel reports. The firm purchased 2,574 shares of the software maker’s stock, valued at approximately $508,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Manhattan Associates during the 2nd quarter valued at about $27,073,000. Inspire Investing LLC raised its holdings in shares of Manhattan Associates by 243.7% during the first quarter. Inspire Investing LLC now owns 22,948 shares of the software maker’s stock valued at $3,971,000 after purchasing an additional 16,271 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Manhattan Associates by 467.5% during the first quarter. BNP Paribas Financial Markets now owns 212,218 shares of the software maker’s stock valued at $36,722,000 after purchasing an additional 174,823 shares during the period. Royal Bank of Canada lifted its position in Manhattan Associates by 3.9% during the first quarter. Royal Bank of Canada now owns 473,677 shares of the software maker’s stock valued at $81,964,000 after purchasing an additional 17,561 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Manhattan Associates by 1.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,272 shares of the software maker’s stock worth $846,000 after purchasing an additional 76 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MANH has been the subject of a number of research reports. UBS Group set a $240.00 target price on shares of Manhattan Associates in a research note on Wednesday, October 22nd. Zacks Research lowered Manhattan Associates from a “strong-buy” rating to a “hold” rating in a report on Monday, September 22nd. Truist Financial set a $230.00 price objective on Manhattan Associates in a research report on Wednesday, October 22nd. Stifel Nicolaus dropped their target price on Manhattan Associates from $250.00 to $240.00 and set a “buy” rating on the stock in a research report on Wednesday, October 22nd. Finally, Raymond James Financial cut their price target on Manhattan Associates from $250.00 to $240.00 and set an “outperform” rating for the company in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $222.42.

Manhattan Associates Price Performance

NASDAQ:MANH opened at $171.45 on Tuesday. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60. The business has a fifty day moving average price of $192.95 and a 200-day moving average price of $199.44. The firm has a market capitalization of $10.33 billion, a price-to-earnings ratio of 48.85 and a beta of 1.08.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, October 21st. The software maker reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.18. The business had revenue of $275.80 million during the quarter, compared to analyst estimates of $271.66 million. Manhattan Associates had a return on equity of 78.80% and a net margin of 20.25%.Manhattan Associates’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.35 earnings per share. Manhattan Associates has set its FY 2025 guidance at 4.950-4.970 EPS. On average, equities research analysts expect that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

Manhattan Associates 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.