Insider Selling: Manhattan Associates, Inc. (NASDAQ:MANH) EVP Sells 3,475 Shares of Stock

Manhattan Associates, Inc. (NASDAQ:MANH) EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value of $1,001,147.50. Following the transaction, the executive vice president now owns 42,812 shares in the company, valued at $12,334,137.20. This trade represents a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Manhattan Associates Stock Down 0.8 %

MANH stock traded down $2.24 during trading on Friday, reaching $285.44. 171,164 shares of the company’s stock were exchanged, compared to its average volume of 414,707. Manhattan Associates, Inc. has a 1-year low of $199.23 and a 1-year high of $307.50. The firm has a market cap of $17.43 billion, a PE ratio of 81.73 and a beta of 1.52. The company’s fifty day moving average price is $282.27 and its 200-day moving average price is $256.35.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.29. The business had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.79 earnings per share. As a group, sell-side analysts expect that Manhattan Associates, Inc. will post 3.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Innealta Capital LLC bought a new stake in Manhattan Associates in the second quarter worth about $26,000. International Assets Investment Management LLC acquired a new position in Manhattan Associates in the second quarter worth approximately $27,000. DT Investment Partners LLC bought a new stake in shares of Manhattan Associates during the 2nd quarter worth $31,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Manhattan Associates in the 2nd quarter worth $31,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Manhattan Associates during the third quarter valued at $34,000. 98.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MANH shares. DA Davidson raised their price target on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Raymond James lifted their target price on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Truist Financial increased their price target on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Loop Capital boosted their price objective on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Finally, Robert W. Baird increased their target price on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Manhattan Associates presently has an average rating of “Moderate Buy” and an average price target of $290.78.

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.