Manhattan Associates, Inc. (NASDAQ:MANH) EVP James Stewart Gantt Sells 3,475 Shares

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

Manhattan Associates Trading Down 0.8 %

Shares of NASDAQ MANH opened at $285.44 on Friday. The firm has a fifty day simple moving average of $282.27 and a two-hundred day simple moving average of $256.35. Manhattan Associates, Inc. has a 12 month low of $199.23 and a 12 month high of $307.50. The firm 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 issued its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping the consensus estimate of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The business had revenue of $266.70 million during the quarter, compared to analyst estimates of $262.90 million. During the same period last year, the business posted $0.79 earnings per share. Manhattan Associates’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts predict that Manhattan Associates, Inc. will post 3.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Raymond James upped their price target on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. DA Davidson increased their target price on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Truist Financial boosted their price objective on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Piper Sandler began coverage on shares of Manhattan Associates in a report on Monday, November 25th. They issued an “overweight” rating and a $326.00 target price on the stock. Finally, Robert W. Baird upped their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $290.78.

Institutional Investors Weigh In On Manhattan Associates

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MANH. Optimist Retirement Group LLC grew its position in shares of Manhattan Associates by 9.0% in the 3rd quarter. Optimist Retirement Group LLC now owns 916 shares of the software maker’s stock worth $258,000 after buying an additional 76 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Manhattan Associates during the third quarter valued at approximately $502,000. Sanctuary Advisors LLC boosted 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 in the last quarter. SkyView Investment Advisors LLC grew 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 worth $1,441,000 after buying an additional 102 shares during the last quarter. Finally, Arete Wealth Advisors LLC bought a new position in Manhattan Associates during the 3rd quarter valued at approximately $208,000. 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.