Manhattan Associates, Inc. (NASDAQ:MANH) Short Interest Update

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

Manhattan Associates Trading Up 0.3 %

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

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.55 by $0.23. The firm had revenue of $238.26 million for the quarter, compared to the consensus estimate of $223.99 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. Sell-side analysts forecast that Manhattan Associates will post 2.81 EPS for the current year.

Insider Buying and Selling

In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the 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 sale, the chief executive officer now directly owns 242,153 shares in the company, valued at approximately $59,988,562.69. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP James Stewart Gantt sold 680 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total transaction of $169,211.20. Following the completion of the transaction, the executive vice president now directly owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction that occurred 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 approximately $59,988,562.69. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Institutional Trading of Manhattan Associates

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC increased its stake in Manhattan Associates by 2.1% in the 3rd quarter. FMR LLC now owns 1,628,850 shares of the software maker’s stock worth $321,958,000 after buying an additional 33,549 shares during the period. Morgan Stanley increased its position in shares of Manhattan Associates by 0.9% during the third quarter. Morgan Stanley now owns 1,522,444 shares of the software maker’s stock worth $300,927,000 after acquiring an additional 13,303 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Manhattan Associates by 16.8% in the fourth quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker’s stock valued at $187,967,000 after purchasing an additional 125,541 shares during the period. Norges Bank bought a new position in Manhattan Associates in the fourth quarter worth approximately $146,984,000. Finally, Northern Trust Corp increased its holdings in Manhattan Associates by 10.5% during the 3rd quarter. Northern Trust Corp now owns 645,187 shares of the software maker’s stock worth $127,528,000 after purchasing an additional 61,437 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

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

Manhattan Associates Company Profile

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.