MacPherson went into October under pressure from large sections of the Saints support, with many fans calling for him to quit after disappointing defeats to Dunfermline Athletic and Motherwell.
However, a superb win over Rangers at Love Street was followed up with a win at Hamilton before last week's late defeat to Dundee United. As a result, he was picked as manager of the month.
The only time Saints have won any of these awards in the past was in 2001, when Tom Hendrie was named manager of the month and Stephen McPhee won the young player award in April that year.
Well done Gus - let's just hope the manager of the month jinx doesn't strike on Friday!