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

KBC Group NV grew its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 70.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,355 shares of the software maker’s stock after purchasing an additional 11,762 shares during the quarter. KBC Group NV’s holdings in Manhattan Associates were worth $7,979,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Innealta Capital LLC purchased a new position in Manhattan Associates during the second quarter worth approximately $26,000. International Assets Investment Management LLC acquired a new position in shares of Manhattan Associates during the 2nd quarter valued at about $27,000. DT Investment Partners LLC purchased a new stake in shares of Manhattan Associates in the second quarter valued at about $31,000. Ashton Thomas Private Wealth LLC acquired a new stake in Manhattan Associates during the second quarter worth about $31,000. Finally, Capital Performance Advisors LLP purchased a new position in Manhattan Associates during the third quarter worth about $34,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Trading Down 2.5 %

MANH opened at $272.62 on Friday. The stock’s 50-day moving average price is $279.80 and its 200 day moving average price is $252.45. Manhattan Associates, Inc. has a 12-month low of $199.23 and a 12-month high of $307.50. The firm has a market cap of $16.65 billion, a price-to-earnings ratio of 77.45 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.29. The business had revenue of $266.70 million for the quarter, compared to analysts’ expectations of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 earnings per share. On average, research analysts forecast that Manhattan Associates, Inc. will post 3.4 earnings per share for the current year.

Wall Street Analyst Weigh In

MANH has been the subject of several analyst reports. Citigroup increased their price target on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Raymond James raised their target price on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Robert W. Baird raised their price objective on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Loop Capital upped their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.38.

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.