Dai ichi Life Insurance Company Ltd Makes New Investment in Manhattan Associates, Inc. (NASDAQ:MANH)

Dai ichi Life Insurance Company Ltd purchased a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 12,116 shares of the software maker’s stock, valued at approximately $2,609,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its stake in Manhattan Associates by 9.1% during the 4th quarter. Russell Investments Group Ltd. now owns 59,852 shares of the software maker’s stock valued at $12,923,000 after buying an additional 4,986 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in Manhattan Associates by 59.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 21,612 shares of the software maker’s stock worth $4,271,000 after purchasing an additional 8,094 shares during the last quarter. Highland Capital Management LLC bought a new stake in shares of Manhattan Associates during the 4th quarter valued at about $1,142,000. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Manhattan Associates during the 4th quarter valued at about $1,050,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Manhattan Associates in the 4th quarter worth approximately $2,039,000. Institutional investors own 98.45% of the company’s stock.

Analyst Ratings Changes

MANH has been the subject of a number of recent research reports. Raymond James boosted their price objective on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. DA Davidson upped their price target on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Truist Financial lifted their price objective on Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Citigroup decreased their target price on shares of Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Finally, William Blair reiterated a “market perform” rating on shares of Manhattan Associates in a research report on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $240.50.

Manhattan Associates Trading Up 0.2 %

Shares of NASDAQ:MANH traded up $0.37 during midday trading on Friday, reaching $225.72. 20,404 shares of the company were exchanged, compared to its average volume of 384,952. The stock has a market cap of $13.90 billion, a PE ratio of 73.64 and a beta of 1.45. Manhattan Associates, Inc. has a one year low of $175.39 and a one year high of $266.94. The business’s fifty day moving average is $230.57 and its two-hundred day moving average is $229.38.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, April 23rd. The software maker reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.23. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. The firm had revenue of $254.55 million for the quarter, compared to analysts’ expectations of $243.32 million. As a group, sell-side analysts expect that Manhattan Associates, Inc. will post 2.72 EPS for the current 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.