Manhattan Associates, Inc. (NASDAQ:MANH) Chairman Sells $8,296,645.56 in Stock

Key Points

• Manhattan Associates Chairman Eddie Capel sold 37,342 shares at an average price of $222.18, amounting to over $8.29 million, which reduced his ownership to 162,988 shares.
• Despite a recent 3.6% decline in share price, Manhattan Associates reported $1.31 EPS for the quarter, exceeding expectations and showing a year-over-year revenue growth of 2.7%.
• Several institutions significantly increased their stakes in Manhattan Associates, with 98.45% of the stock currently owned by institutional investors, indicating strong market confidence.

Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) Chairman Eddie Capel sold 37,342 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $222.18, for a total value of $8,296,645.56. Following the completion of the sale, the chairman owned 162,988 shares in the company, valued at approximately $36,212,673.84. The trade was a 18.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Manhattan Associates Trading Down 2.3%

Shares of NASDAQ MANH traded down $5.00 during midday trading on Friday, reaching $214.66. 476,308 shares of the company were exchanged, compared to its average volume of 649,604. The stock has a market cap of $12.98 billion, a P/E ratio of 59.96 and a beta of 1.10. Manhattan Associates, Inc. has a 1 year low of $140.81 and a 1 year high of $312.60. The stock has a fifty day simple moving average of $198.54 and a 200 day simple moving average of $192.22.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.19. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. 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 firm earned $1.18 EPS. The company's revenue for the quarter was up 2.7% on a year-over-year basis. As a group, analysts forecast that Manhattan Associates, Inc. will post 3.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA grew its stake in shares of Manhattan Associates by 101.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker's stock valued at $452,321,000 after buying an additional 841,276 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in Manhattan Associates by 1,214.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 606,038 shares of the software maker's stock worth $104,869,000 after buying an additional 559,923 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Manhattan Associates by 101.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,100,410 shares of the software maker's stock worth $190,415,000 after buying an additional 554,840 shares in the last quarter. Swedbank AB raised its stake in shares of Manhattan Associates by 116.8% in the 1st quarter. Swedbank AB now owns 800,000 shares of the software maker's stock valued at $138,432,000 after purchasing an additional 430,981 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of Manhattan Associates by 2,075.5% in the 4th quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker's stock valued at $107,842,000 after purchasing an additional 380,722 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MANH. DA Davidson raised their price objective on Manhattan Associates from $225.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Citigroup reiterated a "neutral" rating and issued a $200.00 price objective (up from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Morgan Stanley assumed coverage on Manhattan Associates in a research note on Monday, July 14th. They set an "underweight" rating and a $190.00 price objective for the company. Redburn Atlantic cut Manhattan Associates from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $270.00 to $200.00 in a research note on Tuesday, June 10th. Finally, Raymond James Financial boosted their target price on Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target 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.