Manhattan Associates (NASDAQ:MANH) Announces Earnings Results, Beats Expectations By $0.09 EPS

Key Points

• Manhattan Associates beat quarterly expectations: The software maker reported $1.55 in EPS versus the $1.46 consensus estimate, while revenue of $306.19 million exceeded expectations of $297.01 million.
• Shares fell 1.0% to $233.98 despite the earnings beat, with the stock trading at a price-to-earnings ratio of 67.04 and near its 52-week high of $242.63.
• Analyst sentiment remains generally positive, with eight Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $229.33; however, executives recently sold shares.

Manhattan Associates (NASDAQ:MANH - Get Free Report) released its earnings results on Tuesday. The software maker reported $1.55 EPS for the quarter, topping the consensus estimate of $1.46 by $0.09, FiscalAI reports. The firm had revenue of $306.19 million during the quarter, compared to analysts' expectations of $297.01 million. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%.

Manhattan Associates Trading Down 1.0%

Shares of MANH traded down $2.42 during mid-day trading on Tuesday, reaching $233.98. The company had a trading volume of 860,565 shares, compared to its average volume of 749,589. The stock has a market cap of $13.64 billion, a price-to-earnings ratio of 67.04 and a beta of 0.95. The firm has a fifty day simple moving average of $213.57 and a 200-day simple moving average of $165.35. Manhattan Associates has a fifty-two week low of $119.06 and a fifty-two week high of $242.63.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MANH. Barclays increased their price target on Manhattan Associates from $201.00 to $239.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 8th. Wall Street Zen raised Manhattan Associates from a "hold" rating to a "buy" rating in a research report on Saturday. Weiss Ratings upgraded Manhattan Associates from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, October 2nd. Citigroup increased their target price on Manhattan Associates from $203.00 to $260.00 and gave the stock a "buy" rating in a research report on Tuesday, October 20th. Finally, DA Davidson lowered Manhattan Associates from a "buy" rating to a "neutral" rating and set a $210.00 price target on the stock. in a research note on Monday, September 28th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $229.33.

Insider Buying and Selling at Manhattan Associates

In related news, EVP James Gantt sold 5,139 shares of the company's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the completion of the sale, the executive vice president directly owned 55,676 shares of the company's stock, valued at approximately $10,886,328.28. This represents a 8.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric Clark sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total value of $593,280.00. Following the completion of the transaction, the chief executive officer owned 89,638 shares of the company's stock, valued at approximately $17,726,810.88. This represents a 3.24% decrease in their position. The SEC filing for this sale provides additional information. 0.84% of the stock is owned by insiders.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.

The company's product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.

Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.

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