Manhattan Associates, Inc. (NASDAQ:MANH) EVP James Stewart Gantt Sells 2,300 Shares

Key Points

• Manhattan Associates' EVP, James Stewart Gantt, sold 2,300 shares of the company's stock for a total of $506,759, reducing his ownership by 4.51%.
• The company's stock rose 1.8% to reach $225.41 after trading, with a market cap of $13.69 billion and a P/E ratio of 62.96.
• In the latest earnings report, Manhattan Associates reported $1.31 EPS, surpassing estimates and showcasing a 2.7% increase in quarterly revenue year-over-year.

Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) EVP James Stewart Gantt sold 2,300 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $220.33, for a total value of $506,759.00. Following the sale, the executive vice president directly owned 48,660 shares of the company's stock, valued at approximately $10,721,257.80. This represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Manhattan Associates Stock Up 1.8%

Shares of NASDAQ:MANH traded up $3.94 during trading on Tuesday, reaching $225.41. 918,479 shares of the company traded hands, compared to its average volume of 828,658. The firm has a fifty day simple moving average of $195.84 and a 200 day simple moving average of $192.45. The firm has a market cap of $13.69 billion, a P/E ratio of 62.96 and a beta of 1.08. Manhattan Associates, Inc. has a 1-year low of $140.81 and a 1-year high of $312.60.

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

Institutional Investors Weigh In On Manhattan Associates

A number of hedge funds and other institutional investors have recently made changes to their positions in MANH. FMR LLC increased its holdings in Manhattan Associates by 16.2% in the fourth quarter. FMR LLC now owns 2,227,669 shares of the software maker's stock worth $602,005,000 after buying an additional 310,257 shares during the last quarter. Franklin Resources Inc. lifted its stake in Manhattan Associates by 43.2% in the fourth quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker's stock valued at $517,917,000 after acquiring an additional 578,295 shares during the last quarter. Invesco Ltd. grew its position in Manhattan Associates by 3.1% in the fourth quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker's stock worth $502,960,000 after acquiring an additional 55,334 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Manhattan Associates by 101.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker's stock worth $452,321,000 after acquiring an additional 841,276 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Manhattan Associates by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 1,554,038 shares of the software maker's stock worth $420,459,000 after purchasing an additional 39,097 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on MANH. Loop Capital boosted their price objective on Manhattan Associates from $170.00 to $200.00 and gave the stock a "hold" rating in a report on Tuesday, July 22nd. Raymond James Financial boosted their price target on shares of Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Citigroup restated a "neutral" rating and issued a $200.00 price target (up previously from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Morgan Stanley began coverage on shares of Manhattan Associates in a research report on Monday, July 14th. They set an "underweight" rating and a $190.00 price objective on the stock. Finally, Robert W. Baird boosted their target price on shares of Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $216.67.

About Manhattan Associates

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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