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 transaction of $593,280.00. Following the sale, the chief executive officer directly owned 89,638 shares of the company’s stock, valued at approximately $17,726,810.88. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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 stock was sold at an average price of $146.77, for a total transaction of $146,770.00.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $195.20 on Wednesday. The firm has a market cap of $11.38 billion, a price-to-earnings ratio of 55.93 and a beta of 0.93. Manhattan Associates, Inc. has a fifty-two week low of $119.06 and a fifty-two week high of $220.72. The firm has a fifty day moving average price of $156.85 and a two-hundred day moving average price of $146.28.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm’s revenue was up 9.3% compared to the same quarter last year. During the same period last year, the business posted $1.31 earnings per share. As a group, sell-side analysts expect that Manhattan Associates, Inc. will post 3.87 earnings per share for the current year.

Institutional Trading of Manhattan Associates

Several institutional investors have recently modified their holdings of MANH. Ieq Capital LLC bought a new stake in shares of Manhattan Associates during the second quarter valued at approximately $5,954,000. Callan Family Office LLC acquired a new position in shares of Manhattan Associates in the second quarter valued at $2,919,000. Allworth Financial LP acquired a new position in shares of Manhattan Associates in the second quarter valued at $360,000. Virtus Advisers LLC bought a new position in Manhattan Associates in the second quarter worth $354,000. Finally, Silvant Capital Management LLC bought a new position in Manhattan Associates in the second quarter worth $4,271,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MANH. Weiss Ratings raised Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Citigroup increased their price objective on Manhattan Associates from $177.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Robert W. Baird raised their price objective on shares of Manhattan Associates from $186.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Wall Street Zen lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Barclays cut their target price on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating for the company in a research note on Friday, May 29th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, 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.