Manhattan Associates (NASDAQ:MANH) Director Linda Hollembaek Sells 1,315 Shares of Company Stock

Manhattan Associates, Inc. (NASDAQ:MANH) Director Linda Hollembaek sold 1,315 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $250.00, for a total transaction of $328,750.00. Following the completion of the sale, the director owned 10,953 shares in the company, valued at $2,738,250. This represents a 10.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH opened at $260.41 on Thursday. The company has a fifty day moving average of $219.15 and a 200-day moving average of $167.91. The company has a market capitalization of $15.12 billion, a PE ratio of 72.94 and a beta of 0.85. Manhattan Associates, Inc. has a 52-week low of $119.06 and a 52-week high of $263.47.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, October 27th. The software maker reported $1.55 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $297.01 million. During the same period in the prior year, the company earned $1.36 EPS. Manhattan Associates’s revenue was up 11.0% compared to the same quarter last year. On average, equities analysts forecast that Manhattan Associates, Inc. will post 3.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Manhattan Associates

A number of institutional investors and hedge funds have recently made changes to their positions in MANH. NBH Bank acquired a new stake in Manhattan Associates in the 2nd quarter valued at $37,000. Versant Capital Management Inc raised its holdings in Manhattan Associates by 508.9% during the second quarter. Versant Capital Management Inc now owns 274 shares of the software maker’s stock worth $38,000 after buying an additional 229 shares during the last quarter. V Square Quantitative Management LLC raised 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 acquired a new position in Manhattan Associates during the third quarter worth $69,000. Finally, Root Financial Partners LLC bought a new position in shares of Manhattan Associates in the third quarter valued at $71,000. Institutional investors own 98.45% of the company’s stock.

Analyst Ratings Changes

MANH has been the topic of several research analyst reports. Barclays upped their target price on Manhattan Associates from $239.00 to $275.00 and gave the company an “overweight” rating in a research report on Monday. Weiss Ratings raised Manhattan Associates from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. Morgan Stanley upgraded Manhattan Associates from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $180.00 to $250.00 in a report on Monday, October 12th. Robert W. Baird raised their price objective on shares of Manhattan Associates from $218.00 to $260.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 26th. Finally, Citigroup lifted 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. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $261.11.

Manhattan Associates Company Profile

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.