Manhattan Associates, Inc. (NASDAQ:MANH) SVP Sells $1,202,379.50 in Stock

Manhattan Associates, Inc. (NASDAQ:MANH) SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction on Friday, November 29th. The shares were sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the transaction, the senior vice president now owns 22,086 shares in the company, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Manhattan Associates Trading Up 3.7 %

Shares of MANH opened at $297.09 on Wednesday. The company has a market capitalization of $18.15 billion, a PE ratio of 84.40 and a beta of 1.50. Manhattan Associates, Inc. has a 12 month low of $199.23 and a 12 month high of $307.50. The stock’s 50-day moving average price is $282.57 and its two-hundred day moving average price is $257.79.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping the consensus estimate of $1.06 by $0.29. The firm had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 EPS. Equities research analysts predict that Manhattan Associates, Inc. will post 3.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Optimist Retirement Group LLC lifted its stake 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 valued at $258,000 after purchasing an additional 76 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Manhattan Associates in the 3rd quarter valued at about $502,000. Sanctuary Advisors LLC lifted its stake 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 valued at $1,794,000 after purchasing an additional 743 shares during the period. SkyView Investment Advisors LLC lifted 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 during the period. Finally, Arete Wealth Advisors LLC acquired a new position in shares of Manhattan Associates in the 3rd quarter valued at about $208,000. 98.45% of the stock is owned by institutional investors and hedge funds.

About Manhattan Associates

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.