Seven Eight Capital LP Grows Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Seven Eight Capital LP boosted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,868 shares of the software maker’s stock after acquiring an additional 112 shares during the quarter. Seven Eight Capital LP’s holdings in Manhattan Associates were worth $718,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Tobam purchased a new stake in Manhattan Associates during the 1st quarter worth about $25,000. Benjamin Edwards Inc. purchased a new stake in Manhattan Associates during the 1st quarter worth about $27,000. Blue Trust Inc. increased its position in Manhattan Associates by 259.4% during the 4th quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock worth $25,000 after purchasing an additional 83 shares in the last quarter. Bear Mountain Capital Inc. purchased a new stake in Manhattan Associates during the 4th quarter worth about $26,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Manhattan Associates during the 4th quarter worth about $26,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Trading Up 0.4 %

MANH stock traded up $0.85 during midday trading on Tuesday, hitting $226.00. 668,408 shares of the company’s stock were exchanged, compared to its average volume of 412,410. Manhattan Associates, Inc. has a 12-month low of $182.97 and a 12-month high of $266.94. The firm has a 50 day moving average price of $231.82 and a 200-day moving average price of $233.87. The stock has a market capitalization of $13.91 billion, a price-to-earnings ratio of 73.86 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data 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 company had revenue of $254.55 million for the quarter, compared to the consensus estimate of $243.32 million. On average, sell-side analysts forecast that Manhattan Associates, Inc. will post 2.72 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on MANH shares. Redburn Atlantic started coverage on Manhattan Associates in a research note on Tuesday, May 14th. They issued a “buy” rating and a $260.00 price target on the stock. William Blair reissued a “market perform” rating on shares of Manhattan Associates in a research note on Wednesday, April 24th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, May 27th. Rosenblatt Securities reissued a “neutral” rating and issued a $225.00 price target on shares of Manhattan Associates in a research note on Wednesday, April 24th. Finally, Citigroup raised their price target on Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $248.86.

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.