First Trust Direct Indexing L.P. Purchases 649 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

First Trust Direct Indexing L.P. lifted its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 30.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,786 shares of the software maker’s stock after purchasing an additional 649 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Manhattan Associates were worth $784,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Fidelis Capital Partners LLC increased its holdings in shares of Manhattan Associates by 3.2% in the third quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock worth $347,000 after purchasing an additional 40 shares during the last quarter. Smith Group Asset Management LLC increased its holdings in shares of Manhattan Associates by 2.5% in the third quarter. Smith Group Asset Management LLC now owns 91,591 shares of the software maker’s stock worth $25,772,000 after purchasing an additional 2,230 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Manhattan Associates by 112.2% in the third quarter. Nisa Investment Advisors LLC now owns 17,907 shares of the software maker’s stock worth $5,039,000 after purchasing an additional 9,468 shares during the last quarter. Inscription Capital LLC bought a new stake in shares of Manhattan Associates in the third quarter worth about $245,000. Finally, Cavalier Investments LLC increased its holdings in shares of Manhattan Associates by 6.5% in the third quarter. Cavalier Investments LLC now owns 2,271 shares of the software maker’s stock worth $639,000 after purchasing an additional 138 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MANH shares. Robert W. Baird lifted their target price on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Citigroup lifted their price target on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. DA Davidson lifted their price target on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Truist Financial lifted their price target on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Finally, Loop Capital lifted their price target on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $286.38.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH opened at $264.35 on Friday. The firm has a market capitalization of $16.15 billion, a price-to-earnings ratio of 75.10 and a beta of 1.50. The stock has a 50 day moving average price of $275.85 and a 200 day moving average price of $248.10. Manhattan Associates, Inc. has a 52-week low of $198.45 and a 52-week high of $307.50.

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

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.