Manhattan Associates (NASDAQ:MANH) CEO Eric Andrew Clark Sells 3,000 Shares of Stock

Manhattan Associates, Inc. (NASDAQ:MANH) CEO Eric Andrew Clark sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total value of $593,280.00. Following the sale, the chief executive officer owned 89,638 shares of the company’s stock, valued at approximately $17,726,810.88. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Eric Andrew Clark also recently made the following trade(s):

• On Wednesday, June 10th, Eric Andrew Clark sold 1,000 shares of Manhattan Associates stock. The shares were sold at an average price of $146.77, for a total value of $146,770.00.

Manhattan Associates Trading Down 0.3%

NASDAQ:MANH traded down $0.49 on Tuesday, hitting $195.20. 470,215 shares of the stock were exchanged, compared to its average volume of 770,390. The stock has a market cap of $11.38 billion, a PE ratio of 55.93 and a beta of 0.93. The stock has a fifty day moving average of $156.05 and a 200-day moving average of $146.08. Manhattan Associates, Inc. has a fifty-two week low of $119.06 and a fifty-two week high of $220.72.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.07. The company had revenue of $297.79 million for the quarter, compared to the consensus estimate of $289.03 million. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the business posted $1.31 EPS. As a group, analysts predict that Manhattan Associates, Inc. will post 3.87 earnings per share for the current year.

Hedge Funds Weigh In On Manhattan Associates

A number of institutional investors and hedge funds have recently bought and sold shares of MANH. Geode Capital Management LLC grew its stake in shares of Manhattan Associates by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker’s stock valued at $305,199,000 after acquiring an additional 88,005 shares in the last quarter. MUFG Securities EMEA plc acquired a new position in shares of Manhattan Associates in the fourth quarter worth about $6,066,000. John G Ullman & Associates Inc. acquired a new position in shares of Manhattan Associates in the fourth quarter worth about $2,106,000. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in Manhattan Associates by 30.6% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 187,555 shares of the software maker’s stock valued at $32,505,000 after purchasing an additional 43,955 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Manhattan Associates by 771.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 63,117 shares of the software maker’s stock valued at $10,939,000 after purchasing an additional 55,877 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MANH. Morgan Stanley set a $180.00 price target on shares of Manhattan Associates in a research report on Wednesday, July 29th. Citigroup increased their price objective on shares of Manhattan Associates from $177.00 to $193.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Wall Street Zen lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Stifel Nicolaus upped their price target on shares of Manhattan Associates from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Finally, Barclays decreased their price target on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $209.20.

About Manhattan Associates

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.