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

Manhattan Associates, Inc. (NASDAQ:MANH) EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction dated 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 completion of the sale, the executive vice president now owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Manhattan Associates Stock Performance

Shares of MANH opened at $285.44 on Friday. The stock has a 50 day simple moving average of $282.46 and a 200 day simple moving average of $256.85. Manhattan Associates, Inc. has a 52-week low of $199.23 and a 52-week 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 released its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, beating 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 company had revenue of $266.70 million during the quarter, compared to analysts’ expectations of $262.90 million. During the same quarter in the prior year, the company earned $0.79 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. Equities research analysts predict that Manhattan Associates, Inc. will post 3.4 EPS for the current fiscal year.

Analysts Set New Price Targets

MANH has been the subject of several analyst reports. DA Davidson lifted their price target on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Truist Financial upped their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Loop Capital raised their price target on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Piper Sandler initiated coverage on Manhattan Associates in a report on Monday, November 25th. They issued an “overweight” rating and a $326.00 price objective for the company. Finally, Raymond James increased their target price on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $290.78.

Institutional Trading of Manhattan Associates

Several hedge funds and other institutional investors have recently modified their holdings of MANH. Massachusetts Financial Services Co. MA bought a new position in shares of Manhattan Associates during the third quarter worth about $234,249,000. Fiera Capital Corp bought a new position in shares of Manhattan Associates during the 2nd quarter worth approximately $44,705,000. Squarepoint Ops LLC grew its stake in shares of Manhattan Associates by 448.9% during the 2nd quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker’s stock worth $39,629,000 after acquiring an additional 131,381 shares in the last quarter. FMR LLC lifted its position in shares of Manhattan Associates by 7.3% in the third quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock worth $539,521,000 after purchasing an additional 130,817 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Manhattan Associates by 118.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker’s stock worth $48,860,000 after purchasing an additional 94,283 shares in the last quarter. 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.