Bruce Richards Sells 4,150 Shares of Manhattan Associates, Inc. (NASDAQ:MANH) Stock

Manhattan Associates, Inc. (NASDAQ:MANH) SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the sale, the senior vice president now owns 22,086 shares of the company’s stock, valued at approximately $6,398,976.78. This represents a 15.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Manhattan Associates Trading Up 3.7 %

Shares of Manhattan Associates stock traded up $10.72 during trading on Tuesday, reaching $297.09. The company’s stock had a trading volume of 548,250 shares, compared to its average volume of 413,861. The stock has a 50-day moving average price of $282.57 and a two-hundred day moving average price of $257.79. Manhattan Associates, Inc. has a one year low of $199.23 and a one year high of $307.50. The stock has a market capitalization of $18.15 billion, a P/E ratio of 81.36 and a beta of 1.51.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. The business had revenue of $266.70 million during the quarter, compared to analysts’ expectations of $262.90 million. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.79 earnings per share. As a group, sell-side analysts anticipate that Manhattan Associates, Inc. will post 3.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Trading of Manhattan Associates

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Manhattan Associates by 0.6% during the 3rd quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock worth $619,918,000 after purchasing an additional 12,787 shares during the last quarter. FMR LLC raised its holdings in Manhattan Associates by 7.3% during the 3rd quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock worth $539,521,000 after purchasing an additional 130,817 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Manhattan Associates by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock valued at $426,308,000 after acquiring an additional 82,995 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Manhattan Associates in the 3rd quarter valued at about $234,249,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Manhattan Associates by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker’s stock valued at $149,023,000 after acquiring an additional 2,156 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

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.