James Stewart Gantt Sells 3,475 Shares of Manhattan Associates, Inc. (NASDAQ:MANH) Stock

Manhattan Associates, Inc. (NASDAQ:MANH) EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 42,812 shares in the company, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Manhattan Associates Trading Down 0.8 %

Shares of NASDAQ MANH opened at $285.44 on Friday. The business’s 50 day moving average is $282.46 and its 200-day moving average is $256.85. The firm has a market cap of $17.43 billion, a P/E ratio of 81.09 and a beta of 1.52. Manhattan Associates, Inc. has a 1-year low of $199.23 and a 1-year high of $307.50.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The company had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. During the same quarter last year, the firm earned $0.79 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. Analysts forecast that Manhattan Associates, Inc. will post 3.4 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on MANH. Piper Sandler started coverage on shares of Manhattan Associates in a research report on Monday, November 25th. They set an “overweight” rating and a $326.00 price target on the stock. Robert W. Baird raised their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Truist Financial lifted their price target on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Raymond James upped their price objective on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Loop Capital lifted their target price on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $290.78.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its stake in shares of Manhattan Associates by 47.5% in the third quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker’s stock valued at $334,000 after buying an additional 382 shares during the period. Boston Trust Walden Corp grew its holdings in shares of Manhattan Associates by 3.3% during the 2nd quarter. Boston Trust Walden Corp now owns 109,542 shares of the software maker’s stock worth $27,022,000 after purchasing an additional 3,525 shares in the last quarter. Mediolanum International Funds Ltd increased its position in shares of Manhattan Associates by 602.0% in the third quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker’s stock worth $5,607,000 after purchasing an additional 17,187 shares during the period. Chartwell Investment Partners LLC raised its stake in Manhattan Associates by 31.1% in the third quarter. Chartwell Investment Partners LLC now owns 21,557 shares of the software maker’s stock valued at $6,065,000 after purchasing an additional 5,119 shares in the last quarter. Finally, M&G Plc lifted its position in Manhattan Associates by 2.1% during the second quarter. M&G Plc now owns 316,243 shares of the software maker’s stock worth $78,112,000 after purchasing an additional 6,511 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

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.