Norges Bank Makes New Investment in Manhattan Associates, Inc. (NASDAQ:MANH)

Norges Bank acquired a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 682,630 shares of the software maker’s stock, valued at approximately $146,984,000. Norges Bank owned approximately 1.11% of Manhattan Associates at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC raised its stake in shares of Manhattan Associates by 2.1% in the 3rd quarter. FMR LLC now owns 1,628,850 shares of the software maker’s stock valued at $321,958,000 after purchasing an additional 33,549 shares during the period. Morgan Stanley raised its position in Manhattan Associates by 0.9% in the 3rd quarter. Morgan Stanley now owns 1,522,444 shares of the software maker’s stock valued at $300,927,000 after buying an additional 13,303 shares during the last quarter. Northern Trust Corp lifted its stake in Manhattan Associates by 10.5% in the 3rd quarter. Northern Trust Corp now owns 645,187 shares of the software maker’s stock valued at $127,528,000 after acquiring an additional 61,437 shares in the last quarter. Principal Financial Group Inc. boosted its position in Manhattan Associates by 2.6% during the 4th quarter. Principal Financial Group Inc. now owns 502,550 shares of the software maker’s stock worth $108,209,000 after acquiring an additional 12,536 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in shares of Manhattan Associates by 4.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 383,622 shares of the software maker’s stock worth $82,601,000 after acquiring an additional 16,556 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Price Performance

MANH opened at $225.35 on Friday. The company has a market capitalization of $13.87 billion, a PE ratio of 73.64 and a beta of 1.45. The business has a fifty day simple moving average of $230.57 and a 200 day simple moving average of $229.38. Manhattan Associates, Inc. has a 1 year low of $171.30 and a 1 year high of $266.94.

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

Analyst Upgrades and Downgrades

MANH has been the topic of a number of research reports. Rosenblatt Securities reissued a “neutral” rating and issued a $225.00 price objective on shares of Manhattan Associates in a research report on Wednesday, April 24th. William Blair restated a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Truist Financial upped their target price on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Redburn Atlantic started coverage on Manhattan Associates in a research report on Tuesday, May 14th. They set a “buy” rating and a $260.00 price target for the company. Finally, Raymond James lifted 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. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $240.50.

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.