Houston is Scottish Championship manager of the month after the Bairns won two and drew one of their three league games last month.
They have subsequently moved two points ahead of Hibernian into second place, having played a game more, and are 12 points behind leaders Rangers.
Ferguson takes the League Two award after Clyde won three out of four.
Those 12 points helped the Bully Wee in their push for promotion and they are currently just inside the play-off zone.
Falkirk boss Peter Houston and Clyde counterpart Barry Ferguson have won manager prizes for February.