Manhattan Associates, Inc. (NASDAQ:MANH) Sees Significant Drop in Short Interest

Manhattan Associates, Inc. (NASDAQ:MANH) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 864,600 shares, a drop of 26.1% from the March 31st total of 1,170,000 shares. Based on an average daily trading volume, of 395,900 shares, the days-to-cover ratio is currently 2.2 days. Approximately 1.4% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

MANH has been the topic of several research reports. Truist Financial boosted their target price on Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. DA Davidson upgraded Manhattan Associates from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $220.00 to $240.00 in a research note on Thursday. Raymond James upped their price objective on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Rosenblatt Securities reiterated a “neutral” rating and issued a $225.00 target price on shares of Manhattan Associates in a research note on Wednesday. Finally, Citigroup dropped their price target on shares of Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.86.

Manhattan Associates Trading Up 0.3 %

Shares of Manhattan Associates stock opened at $209.02 on Friday. The company’s 50-day moving average price is $244.34 and its 200-day moving average price is $226.79. Manhattan Associates has a 12-month low of $164.55 and a 12-month high of $266.94. The company has a market cap of $12.87 billion, a price-to-earnings ratio of 68.31 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.23. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. The business had revenue of $238.26 million for the quarter, compared to analysts’ expectations of $223.99 million. On average, sell-side analysts predict that Manhattan Associates will post 2.81 earnings per share for the current year.

Insider Activity

In related news, CEO Eddie Capel sold 10,897 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total value of $2,699,513.81. Following the sale, the chief executive officer now owns 242,153 shares in the company, valued at approximately $59,988,562.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Eddie Capel sold 10,897 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the completion of the sale, the chief executive officer now owns 242,153 shares in the company, valued at $59,988,562.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total value of $169,211.20. Following the transaction, the executive vice president now owns 57,093 shares in the company, valued at $14,207,022.12. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Manhattan Associates

Several large investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Manhattan Associates during the 4th quarter valued at about $146,984,000. TD Asset Management Inc grew its stake in Manhattan Associates by 234.2% in the 4th quarter. TD Asset Management Inc now owns 549,308 shares of the software maker’s stock worth $118,277,000 after buying an additional 384,941 shares in the last quarter. California Public Employees Retirement System grew its stake in Manhattan Associates by 184.3% in the 3rd quarter. California Public Employees Retirement System now owns 352,665 shares of the software maker’s stock worth $69,708,000 after buying an additional 228,618 shares in the last quarter. Epoch Investment Partners Inc. increased its holdings in shares of Manhattan Associates by 110.6% in the 4th quarter. Epoch Investment Partners Inc. now owns 369,352 shares of the software maker’s stock worth $79,529,000 after buying an additional 193,951 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Manhattan Associates by 16.8% during the 4th quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker’s stock valued at $187,967,000 after buying an additional 125,541 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

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.