Raymond James & Associates, a prominent institutional investor, has shown confidence in Manhattan Associates, Inc. (NASDAQ:MANH) by increasing its stake in the company by 10.9% during the first quarter of this year. In its recent 13F filing with the Securities & Exchange Commission, Raymond James & Associates disclosed that it now holds 209,650 shares of Manhattan Associates’ stock, representing approximately 0.34% ownership. The additional acquisition of 20,559 shares reinforces Raymond James & Associates’ belief in the software maker’s potential growth and profitability.
Manhattan Associates, Inc. is a leading technology company specializing in developing and providing innovative software solutions for supply chain management, inventory control, and omni-channel operations. With its flagship product Manhattan SCALE, the company offers a comprehensive logistics execution platform that assists businesses in managing their trading partners efficiently, optimizing warehouse operations, improving transportation execution services, and streamlining yard management processes. Furthermore, Manhattan Active is an enterprise and omnichannel solution designed to cater to the unique needs of businesses across various sectors.
The positive sentiments expressed by Raymond James & Associates highlight their confidence in Manhattan Associates’ ability to deliver robust performance going forward. Considering the dynamic nature of today’s business environment and the increasing importance of efficient supply chain management systems for businesses worldwide, Manhattan Associates appears well-positioned to capitalize on these trends.
Taking a closer look at financial indicators for Manhattan Associates as of Thursday’s opening at $191.83 per share on NASDAQ MANH reveals some interesting statistics about the company’s market capitalization and valuation metrics. With a market capitalization of $11.90 billion, Manhattan Associates has solidified its position as a significant player in the industry. Moreover, with a price-to-earnings (PE) ratio standing at 88.00 and a beta value of 1.58 reflecting its higher sensitivity to market movements than average stocks; investors can evaluate the company’s growth potential and risk level.
Examining its stock performance over various time periods, Manhattan Associates has been gaining momentum. The business’s fifty-day moving average is currently at $177.56, indicating a consistent upward trend. Similarly, the 200-day moving average stands at $151.24, demonstrating long-term growth prospects for the company.
Furthermore, it is worth mentioning that Manhattan Associates’ robust financial position is reflected in its impressive fifty-two week range. With a low of $106.02 and a high of $194.80 within this period, the stock price has experienced remarkable growth and generated substantial returns for investors who have taken advantage of this opportunity.
In conclusion, Raymond James & Associates’ increased stake in Manhattan Associates signifies their confidence in the software-maker’s future success. With its innovative suite of software solutions focused on supply chain management and omni-channel operations, Manhattan Associates is well-positioned to capture opportunities amid evolving market dynamics. Supported by strong financial indicators and an upward-trending stock performance, the company holds immense potential for investors seeking exposure to the thriving technology sector.
Disclaimer: Our content is intended to be used for informational purposes only and should not be construed as financial advice or investment recommendation. Investing in securities involves risks, and it is important to conduct thorough research before making any investment decisions.
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Rising Investor Interest and Impressive Earnings Results Position Manhattan Associates for Success
Manhattan Associates, Inc., a software development company specializing in supply chain and inventory management solutions, has seen an increase in holdings by institutional investors and hedge funds. TD Asset Management Inc, for example, has increased its holdings in shares of Manhattan Associates by 14.6% in the fourth quarter. This follows other similar increases by Swiss National Bank, Chesley Taft & Associates LLC, Oversea Chinese Banking CORP Ltd, and Stephens Investment Management Group LLC.
In conjunction with this rise in investor interest, CFO Dennis B. Story recently sold 32,125 shares of the company’s stock at an average price of $167.77. The sale was disclosed in a document filed with the Securities & Exchange Commission. In addition to this transaction, EVP James Stewart Gantt sold 6,000 shares at an average price of $169.00.
Despite these sales by corporate insiders, Manhattan Associates reported impressive earnings results for the first quarter of 2021. The software maker exceeded expectations with earnings per share of $0.62 compared to the consensus estimate of $0.45 per share. Additionally, the company generated $221.01 million in revenue for the quarter.
Numerous research reports have highlighted Manhattan Associates as a promising investment opportunity. StockNews.com initiated coverage on the stock and gave it a “buy” rating. Other research notes from Robert W. Baird, Rosenblatt Securities, DA Davidson, and Loop Capital have also expressed positive sentiments about investing in Manhattan Associates.
This news bodes well for Manhattan Associates as it continues to attract attention from institutional investors and hedge funds. The company’s software solutions provide valuable logistics execution services that optimize supply chains and enhance omni-channel operations for businesses worldwide.
With its strong financial performance and positive outlook from analysts, Manhattan Associates is poised to thrive in today’s digital age where efficient supply chain management is crucial for businesses to succeed.