Insider Selling: Manhattan Associates, Inc. (NASDAQ:MANH) Director Sells 2,024 Shares of Stock

Key Points

• Linda T. Hollembaek, a director at Manhattan Associates, sold 2,024 shares at an average price of $221.53, reducing her ownership by 14.53% to a total of 11,907 shares.
• The company's stock is currently down 3.6%, trading at $219.66, with a market cap of $13.28 billion and a PE ratio of 61.36.
• Manhattan Associates reported earnings per share of $1.31 for the most recent quarter, exceeding estimates and showing a year-over-year revenue increase of 2.7%.

Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) Director Linda T. Hollembaek sold 2,024 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total transaction of $448,376.72. Following the transaction, the director owned 11,907 shares in the company, valued at $2,637,757.71. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Manhattan Associates Stock Down 3.6%

Shares of NASDAQ:MANH traded down $8.28 on Thursday, hitting $219.66. 850,867 shares of the company traded hands, compared to its average volume of 832,442. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60. The stock has a 50 day simple moving average of $197.31 and a 200-day simple moving average of $192.92. The company has a market cap of $13.28 billion, a PE ratio of 61.36 and a beta of 1.08.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 EPS for the quarter, topping the consensus estimate of $1.12 by $0.19. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%. The company had revenue of $272.42 million during the quarter, compared to the consensus estimate of $263.62 million. During the same period last year, the company earned $1.18 EPS. Manhattan Associates's revenue for the quarter was up 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Manhattan Associates, Inc. will post 3.3 earnings per share for the current year.

Institutional Investors Weigh In On Manhattan Associates

Hedge funds and other institutional investors have recently made changes to their positions in the business. BOKF NA grew its stake in shares of Manhattan Associates by 0.4% during the 4th quarter. BOKF NA now owns 13,271 shares of the software maker's stock valued at $3,522,000 after acquiring an additional 55 shares during the period. Cordatus Wealth Management LLC lifted its holdings in Manhattan Associates by 4.9% in the 1st quarter. Cordatus Wealth Management LLC now owns 1,229 shares of the software maker's stock worth $213,000 after purchasing an additional 57 shares in the last quarter. Credit Agricole S A lifted its holdings in Manhattan Associates by 1.3% in the 1st quarter. Credit Agricole S A now owns 4,858 shares of the software maker's stock worth $841,000 after purchasing an additional 64 shares in the last quarter. Quent Capital LLC lifted its holdings in Manhattan Associates by 3.5% in the 2nd quarter. Quent Capital LLC now owns 1,947 shares of the software maker's stock worth $384,000 after purchasing an additional 65 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its holdings in Manhattan Associates by 1.1% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 6,552 shares of the software maker's stock worth $1,134,000 after purchasing an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MANH. Robert W. Baird raised their price target on Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Redburn Atlantic lowered Manhattan Associates from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $270.00 to $200.00 in a research note on Tuesday, June 10th. Raymond James Financial raised their price target on Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Citigroup reaffirmed a "neutral" rating and issued a $200.00 price target (up previously from $177.00) on shares of Manhattan Associates in a research note on Wednesday, July 16th. Finally, Morgan Stanley assumed coverage on Manhattan Associates in a research note on Monday, July 14th. They issued an "underweight" rating and a $190.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $216.67.

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.

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