Insider Selling: Manhattan Associates, Inc. (NASDAQ:MANH) EVP Sells 3,475 Shares of Stock

Manhattan Associates, Inc. (NASDAQ:MANH) EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value of $1,001,147.50. Following the transaction, the executive vice president now owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH opened at $285.44 on Monday. The stock’s 50-day simple moving average is $282.46 and its 200-day simple moving average is $257.13. The firm has a market capitalization of $17.43 billion, a PE ratio of 81.09 and a beta of 1.52. Manhattan Associates, Inc. has a fifty-two week low of $199.23 and a fifty-two week high of $307.50.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share 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 net margin of 21.38% and a return on equity of 84.55%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the company earned $0.79 earnings per share. On average, sell-side analysts forecast that Manhattan Associates, Inc. will post 3.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on MANH. Piper Sandler began coverage on Manhattan Associates in a report on Monday, November 25th. They set an “overweight” rating and a $326.00 target price for the company. Citigroup lifted their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Loop Capital increased their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 16th. DA Davidson boosted their price target on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Truist Financial increased their price objective on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and an average target price of $290.78.

Institutional Investors Weigh In On Manhattan Associates

A number of institutional investors and hedge funds have recently bought and sold shares of MANH. State Street Corp grew its holdings in shares of Manhattan Associates by 0.6% during the third quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock worth $619,918,000 after purchasing an additional 12,787 shares during the last quarter. FMR LLC grew its stake in Manhattan Associates by 7.3% during the 3rd quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock worth $539,521,000 after buying an additional 130,817 shares during the last quarter. Geode Capital Management LLC increased its position in Manhattan Associates by 5.8% during the third quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock worth $426,308,000 after buying an additional 82,995 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in Manhattan Associates in the third quarter valued at approximately $234,249,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Manhattan Associates by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker’s stock valued at $149,023,000 after acquiring an additional 2,156 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

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.