Insider Selling: Manhattan Associates (NASDAQ:MANH) CEO Sells 3,000 Shares of Stock

Key Points

• Manhattan Associates CEO Eric Andrew Clark sold 3,000 shares at an average price of $197.76, generating $593,280. He retained 89,638 shares worth approximately $17.73 million, a 3.24% reduction in his direct ownership.
• The company reported quarterly EPS of $1.39, exceeding the $1.32 consensus estimate, while revenue reached $297.79 million and increased 9.3% year over year.
• MANH shares traded near $195.20, and analysts maintained a “Moderate Buy” consensus with an average price target of $209.20; institutional investors own 98.45% of the stock.

Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) CEO Eric Andrew Clark sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The shares were 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 directly owned 89,638 shares of the company's stock, valued at $17,726,810.88. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Eric Andrew Clark also recently made the following trade(s):

• On Wednesday, June 10th, Eric Andrew Clark sold 1,000 shares of Manhattan Associates stock. The stock was sold at an average price of $146.77, for a total value of $146,770.00.

Manhattan Associates Price Performance

Manhattan Associates stock traded down $0.49 during trading hours on Tuesday, hitting $195.20. The stock had a trading volume of 470,215 shares, compared to its average volume of 770,390. Manhattan Associates, Inc. has a 1-year low of $119.06 and a 1-year high of $220.72. The stock has a market capitalization of $11.38 billion, a price-to-earnings ratio of 55.93 and a beta of 0.93. The stock's fifty day moving average is $156.05 and its two-hundred day moving average is $146.08.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 EPS for the quarter, topping the consensus estimate of $1.32 by $0.07. The business had revenue of $297.79 million for the quarter, compared to analyst estimates of $289.03 million. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The business's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.31 EPS. As a group, sell-side analysts anticipate that Manhattan Associates, Inc. will post 3.87 EPS for the current year.

Analyst Ratings Changes

MANH has been the topic of several research reports. Weiss Ratings upgraded shares of Manhattan Associates from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 14th. Stifel Nicolaus lifted their price objective on Manhattan Associates from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, July 29th. Morgan Stanley set a $180.00 target price on Manhattan Associates in a research note on Wednesday, July 29th. Rothschild & Co Redburn set a $145.00 target price on Manhattan Associates in a report on Thursday, April 16th. Finally, DA Davidson raised their price target on Manhattan Associates from $200.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, July 29th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $209.20.

Institutional Trading of Manhattan Associates

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MANH. NewEdge Advisors LLC increased its stake in shares of Manhattan Associates by 3.3% during the 2nd quarter. NewEdge Advisors LLC now owns 1,852 shares of the software maker's stock valued at $366,000 after acquiring an additional 59 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Manhattan Associates by 2.6% in the third quarter. Tower Research Capital LLC TRC now owns 2,708 shares of the software maker's stock valued at $555,000 after purchasing an additional 69 shares during the period. Covestor Ltd grew its holdings in Manhattan Associates by 12.2% in the fourth quarter. Covestor Ltd now owns 670 shares of the software maker's stock valued at $116,000 after purchasing an additional 73 shares during the period. Verdence Capital Advisors LLC grew its holdings in Manhattan Associates by 3.4% in the fourth quarter. Verdence Capital Advisors LLC now owns 2,322 shares of the software maker's stock valued at $402,000 after purchasing an additional 76 shares during the period. Finally, CIBC Private Wealth Group LLC increased its position in Manhattan Associates by 1.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 6,369 shares of the software maker's stock worth $1,104,000 after purchasing an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

About Manhattan Associates

Manhattan Associates, Inc NASDAQ: MANH is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.

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