Key Points
- Director Linda Hollembaek sold 1,315 Manhattan Associates shares for $328,750 at an average price of $250, reducing her direct ownership by 10.72% to 10,953 shares.
- Manhattan Associates beat quarterly estimates, reporting EPS of $1.55 versus $1.46 expected and revenue of $306.19 million versus $297.01 million expected; revenue rose 11% year over year.
- Analysts have a consensus Moderate Buy rating, with an average price target of $261.11; eight analysts rate the stock Buy and two rate it Hold.
Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) Director Linda Hollembaek sold 1,315 shares of the business's stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $250.00, for a total value of $328,750.00. Following the sale, the director directly owned 10,953 shares of the company's stock, valued at $2,738,250. This represents a 10.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Manhattan Associates Stock Up 2.1%
MANH stock opened at $260.41 on Thursday. Manhattan Associates, Inc. has a twelve month low of $119.06 and a twelve month high of $263.47. The stock's 50 day moving average is $219.15 and its 200-day moving average is $167.91. The firm has a market capitalization of $15.12 billion, a PE ratio of 72.94 and a beta of 0.85.
Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its earnings results on Tuesday, October 27th. The software maker reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.09. Manhattan Associates had a return on equity of 98.67% and a net margin of 18.41%. The company had revenue of $306.19 million for the quarter, compared to analysts' expectations of $297.01 million. During the same quarter in the previous year, the firm earned $1.36 earnings per share. Manhattan Associates's quarterly revenue was up 11.0% on a year-over-year basis. On average, equities research analysts anticipate that Manhattan Associates, Inc. will post 3.88 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
MANH has been the subject of several recent analyst reports. DA Davidson upped their target price on shares of Manhattan Associates from $210.00 to $230.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 28th. Stifel Nicolaus increased their target price on shares of Manhattan Associates from $250.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, October 28th. Citigroup increased their price objective on shares of Manhattan Associates from $260.00 to $280.00 and gave the company a "buy" rating in a research note on Wednesday, October 28th. Weiss Ratings raised shares of Manhattan Associates from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, October 2nd. Finally, UBS Group set a $305.00 target price on Manhattan Associates in a research note on Wednesday, October 28th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $261.11.
Get Our Latest Stock Report on Manhattan Associates
Institutional Investors Weigh In On Manhattan Associates
Several large investors have recently made changes to their positions in the business. NBH Bank purchased a new position in shares of Manhattan Associates in the 2nd quarter worth about $37,000. Versant Capital Management Inc grew its position in Manhattan Associates by 508.9% during the second quarter. Versant Capital Management Inc now owns 274 shares of the software maker's stock valued at $38,000 after buying an additional 229 shares during the period. V Square Quantitative Management LLC increased its holdings in Manhattan Associates by 35.9% during the first quarter. V Square Quantitative Management LLC now owns 348 shares of the software maker's stock worth $46,000 after buying an additional 92 shares during the last quarter. Compass Wealth Management LLC bought a new stake in Manhattan Associates in the third quarter worth about $69,000. Finally, Root Financial Partners LLC bought a new stake in Manhattan Associates in the third quarter worth about $71,000. 98.45% of the stock is owned by hedge funds and other institutional investors.
About Manhattan Associates
(
Get Free Report)
Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.
The company's product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.
Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.
Further Reading
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