Manhattan Associates, Inc. (NASDAQ:MANH) EVP Sells $1,001,147.50 in Stock

Manhattan Associates, Inc. (NASDAQ:MANH) EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the transaction, the executive vice president now owns 42,812 shares in the company, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Manhattan Associates Trading Down 0.8 %

MANH opened at $285.44 on Friday. Manhattan Associates, Inc. has a 1-year low of $199.23 and a 1-year high of $307.50. The firm’s 50 day simple moving average is $282.27 and its two-hundred day simple moving average is $256.35. The company has a market capitalization of $17.43 billion, a PE ratio of 81.09 and a beta of 1.52.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Optimist Retirement Group LLC lifted its holdings in Manhattan Associates by 9.0% during the third quarter. Optimist Retirement Group LLC now owns 916 shares of the software maker’s stock valued at $258,000 after purchasing an additional 76 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Manhattan Associates during the 3rd quarter valued at $502,000. Sanctuary Advisors LLC boosted its holdings in Manhattan Associates by 13.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 6,398 shares of the software maker’s stock worth $1,794,000 after buying an additional 743 shares during the period. SkyView Investment Advisors LLC boosted its holdings in Manhattan Associates by 2.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 5,120 shares of the software maker’s stock worth $1,441,000 after buying an additional 102 shares during the period. Finally, Arete Wealth Advisors LLC purchased a new stake in Manhattan Associates in the 3rd quarter worth $208,000. 98.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MANH has been the topic of several recent analyst reports. Truist Financial increased their target price on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Robert W. Baird lifted their price objective on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Piper Sandler began coverage on shares of Manhattan Associates in a research note on Monday, November 25th. They set an “overweight” rating and a $326.00 target price on the stock. Loop Capital lifted their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, DA Davidson increased their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus price target of $290.78.

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.