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 firm’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 sale, the executive vice president now directly owns 42,812 shares in the company, valued at $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Manhattan Associates Trading Down 0.8 %

NASDAQ:MANH traded down $2.24 on Friday, reaching $285.44. The stock had a trading volume of 171,164 shares, compared to its average volume of 414,707. The company has a 50-day moving average of $282.27 and a 200 day moving average of $256.35. The stock has a market cap of $17.43 billion, a P/E ratio of 81.73 and a beta of 1.52. Manhattan Associates, Inc. has a 12-month low of $199.23 and a 12-month high of $307.50.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The firm had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. During the same quarter in the prior year, the business posted $0.79 earnings per share. Manhattan Associates’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities analysts predict that Manhattan Associates, Inc. will post 3.4 EPS for the current year.

Analyst Upgrades and Downgrades

MANH has been the topic of a number of recent analyst reports. Loop Capital lifted their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th. Raymond James lifted their target price on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Robert W. Baird upped their price target on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. DA Davidson raised their price target on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $290.78.

Institutional Trading of Manhattan Associates

A number of hedge funds have recently made changes to their positions in the stock. Optimist Retirement Group LLC raised its holdings in Manhattan Associates by 9.0% in the third quarter. Optimist Retirement Group LLC now owns 916 shares of the software maker’s stock valued at $258,000 after acquiring an additional 76 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Manhattan Associates in the 3rd quarter worth about $502,000. Sanctuary Advisors LLC increased its position in shares of 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 purchasing an additional 743 shares during the last quarter. SkyView Investment Advisors LLC raised its stake in shares of Manhattan Associates by 2.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 5,120 shares of the software maker’s stock valued at $1,441,000 after purchasing an additional 102 shares in the last quarter. Finally, Arete Wealth Advisors LLC bought a new position in shares of Manhattan Associates during the third quarter worth about $208,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

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.