Manhattan Associates (NASDAQ:MANH) Announces Earnings Results

Manhattan Associates (NASDAQ:MANH) announced its quarterly earnings data on Tuesday. The software maker reported $1.39 EPS for the quarter, beating the consensus estimate of $1.32 by $0.07, FiscalAI reports. The business had revenue of $297.79 million during the quarter, compared to analysts’ expectations of $287.65 million. Manhattan Associates had a net margin of 19.68% and a return on equity of 78.13%.

Manhattan Associates Stock Up 5.6%

Shares of Manhattan Associates stock traded up $8.88 on Tuesday, reaching $168.17. The company’s stock had a trading volume of 969,322 shares, compared to its average volume of 738,707. The company has a market capitalization of $9.95 billion, a P/E ratio of 47.11 and a beta of 0.97. The stock has a 50-day moving average price of $146.29 and a 200-day moving average price of $144.87. Manhattan Associates has a 52-week low of $119.06 and a 52-week high of $229.57.

Insider Activity

In related news, CEO Eric Andrew Clark sold 1,000 shares of Manhattan Associates stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $146.77, for a total value of $146,770.00. Following the sale, the chief executive officer owned 92,638 shares of the company’s stock, valued at approximately $13,596,479.26. This trade represents a 1.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Manhattan Associates

Large investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC increased its stake in shares of Manhattan Associates by 156.0% during the fourth quarter. Corient Private Wealth LLC now owns 11,550 shares of the software maker’s stock worth $2,002,000 after purchasing an additional 7,038 shares in the last quarter. Alberta Investment Management Corp acquired a new stake in Manhattan Associates in the 4th quarter worth about $1,300,000. First Citizens Bank & Trust Co. boosted its holdings in Manhattan Associates by 8.6% in the 4th quarter. First Citizens Bank & Trust Co. now owns 6,829 shares of the software maker’s stock worth $1,184,000 after buying an additional 539 shares during the last quarter. NewEdge Advisors LLC increased its stake in Manhattan Associates by 9.4% during the 4th quarter. NewEdge Advisors LLC now owns 2,628 shares of the software maker’s stock worth $455,000 after buying an additional 226 shares in the last quarter. Finally, XTX Topco Ltd lifted its position in shares of Manhattan Associates by 263.2% in the fourth quarter. XTX Topco Ltd now owns 3,992 shares of the software maker’s stock valued at $692,000 after acquiring an additional 2,893 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on MANH. Wall Street Zen cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Citigroup increased their price target on Manhattan Associates from $177.00 to $193.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Stifel Nicolaus set a $200.00 price objective on Manhattan Associates in a research note on Wednesday, May 20th. Robert W. Baird boosted their price objective on Manhattan Associates from $183.00 to $186.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Finally, Rothschild & Co Redburn set a $145.00 target price on Manhattan Associates in a report on Thursday, April 16th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $201.00.

Manhattan Associates Company Profile

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.