Manhattan Associates (NASDAQ:MANH) Stock: Insider Linda Hollembaek Sells 1,315 Shares

Key Points

• Director Linda Hollembaek sold 1,315 shares for $328,750 at an average price of $250, reducing her direct stake by 10.72% to 10,953 shares.
• Manhattan Associates beat quarterly estimates, reporting EPS of $1.55 versus $1.46 expected and revenue of $306.19 million versus $297.01 million expected; revenue rose 11% year over year.
• Shares rose 2.1% to $260.41. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $261.11.

Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) Director Linda Hollembaek sold 1,315 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $250.00, for a total transaction of $328,750.00. Following the completion of the transaction, the director directly owned 10,953 shares in the company, valued at approximately $2,738,250. The trade was a 10.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Manhattan Associates Trading Up 2.1%

Shares of MANH stock traded up $5.27 during trading hours on Wednesday, hitting $260.41. 789,722 shares of the company were exchanged, compared to its average volume of 765,001. The business has a 50 day moving average of $218.20 and a two-hundred day moving average of $167.48. Manhattan Associates, Inc. has a 52 week low of $119.06 and a 52 week high of $263.47. The company has a market capitalization of $15.12 billion, a PE ratio of 72.94 and a beta of 0.85.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The software maker reported $1.55 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $0.09. The company had revenue of $306.19 million for the quarter, compared to analyst estimates of $297.01 million. Manhattan Associates had a return on equity of 98.67% and a net margin of 18.41%. The company's quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.36 earnings per share. On average, research analysts forecast that Manhattan Associates, Inc. will post 3.88 EPS for the current year.

Analyst Upgrades and Downgrades

MANH has been the topic of several recent research reports. Weiss Ratings upgraded shares of Manhattan Associates from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, October 2nd. Barclays increased their price objective on shares of Manhattan Associates from $239.00 to $275.00 and gave the stock an "overweight" rating in a research note on Monday. UBS Group set a $305.00 price objective on Manhattan Associates in a report on Wednesday, October 28th. Citigroup raised their price objective on Manhattan Associates from $260.00 to $280.00 and gave the company a "buy" rating in a report on Wednesday, October 28th. Finally, Robert W. Baird lifted their target price on Manhattan Associates from $218.00 to $260.00 and gave the company an "outperform" rating in a research report on Wednesday, August 26th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Manhattan Associates currently has an average rating of "Moderate Buy" and an average target price of $261.11.

Hedge Funds Weigh In On Manhattan Associates

Several hedge funds and other institutional investors have recently made changes to their positions in MANH. AlphaCore Capital LLC boosted its stake in Manhattan Associates by 28.8% in the 3rd quarter. AlphaCore Capital LLC now owns 3,695 shares of the software maker's stock valued at $734,000 after purchasing an additional 827 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Manhattan Associates during the 3rd quarter worth $252,000. Ethic Inc. acquired a new stake in shares of Manhattan Associates during the third quarter worth $487,000. Summit Creek Advisors LLC lifted its holdings in shares of Manhattan Associates by 1.9% during the third quarter. Summit Creek Advisors LLC now owns 22,557 shares of the software maker's stock worth $4,482,000 after buying an additional 417 shares in the last quarter. Finally, Formidable Asset Management LLC bought a new stake in shares of Manhattan Associates in the third quarter valued at about $275,000. 98.45% of the stock is owned by institutional investors.

About Manhattan Associates

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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