Manhattan Associates (NASDAQ:MANH) Stock: Insider Linda Hollembaek Sells 1,315 Shares

Manhattan Associates, Inc. (NASDAQ:MANH) Director Linda Hollembaek sold 1,315 shares of the business’s stock in a transaction dated 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 directly owned 10,953 shares of the company’s stock, valued at $2,738,250. This represents a 10.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Manhattan Associates Stock Up 2.1%

Shares of MANH traded up $5.27 during mid-day trading on Wednesday, hitting $260.41. 789,722 shares of the company’s stock were exchanged, compared to its average volume of 765,001. Manhattan Associates, Inc. has a 52 week low of $119.06 and a 52 week high of $263.47. The stock’s 50-day simple moving average is $218.20 and its 200-day simple moving average is $167.48. The firm has a market cap of $15.12 billion, a price-to-earnings ratio of 72.94 and a beta of 0.85.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly 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. The business had revenue of $306.19 million during the quarter, compared to analysts’ expectations of $297.01 million. Manhattan Associates had a return on equity of 98.67% and a net margin of 18.41%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.36 earnings per share. Analysts forecast that Manhattan Associates, Inc. will post 3.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on MANH shares. Morgan Stanley raised Manhattan Associates from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $180.00 to $250.00 in a report on Monday, October 12th. Barclays upped their price objective on shares of Manhattan Associates from $239.00 to $275.00 and gave the stock an “overweight” rating in a research report on Monday. UBS Group set a $305.00 price objective on shares of Manhattan Associates in a research note on Wednesday, October 28th. DA Davidson raised their target price on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a “neutral” rating in a report on Wednesday, October 28th. Finally, Stifel Nicolaus boosted their target price on shares of Manhattan Associates from $250.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $261.11.

Institutional Investors Weigh In On Manhattan Associates

A number of large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Manhattan Associates during the 2nd quarter worth $944,285,000. William Blair Investment Management LLC acquired a new stake in Manhattan Associates in the second quarter valued at about $94,049,000. Bank of America Corp DE acquired a new stake in Manhattan Associates in the second quarter valued at about $75,136,000. Boston Trust Walden Corp acquired a new stake in Manhattan Associates in the third quarter valued at about $87,119,000. Finally, Bank of New York Mellon Corp bought a new position in Manhattan Associates in the second quarter valued at about $54,011,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

About Manhattan Associates

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.