Insider Selling: Manhattan Associates, Inc. (MANH) CEO Sells 23,000 Shares of Stock
Manhattan Associates, Inc. (NASDAQ:MANH) CEO Eddie Capel sold 23,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $42.04, for a total value of $966,920.00. Following the transaction, the chief executive officer now owns 180,057 shares in the company, valued at $7,569,596.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Manhattan Associates, Inc. (NASDAQ:MANH) traded down $0.01 on Friday, hitting $41.38. 409,945 shares of the stock were exchanged, compared to its average volume of 981,323. The firm has a market capitalization of $2.84 billion, a PE ratio of 23.29 and a beta of 1.15.
Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, October 24th. The software maker reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. Manhattan Associates had a net margin of 20.38% and a return on equity of 74.19%. The business had revenue of $152.88 million during the quarter, compared to analysts’ expectations of $150.30 million. During the same period last year, the company posted $0.50 EPS. The company’s revenue was up .4% on a year-over-year basis. equities analysts forecast that Manhattan Associates, Inc. will post 1.75 EPS for the current year.
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Several institutional investors and hedge funds have recently modified their holdings of MANH. Bronfman E.L. Rothschild L.P. increased its stake in shares of Manhattan Associates by 41.1% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,493 shares of the software maker’s stock worth $120,000 after purchasing an additional 726 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Manhattan Associates by 11.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,554 shares of the software maker’s stock worth $123,000 after acquiring an additional 271 shares during the period. Victory Capital Management Inc. purchased a new stake in Manhattan Associates in the 3rd quarter worth approximately $168,000. TrimTabs Asset Management LLC grew its stake in Manhattan Associates by 105.3% in the 2nd quarter. TrimTabs Asset Management LLC now owns 3,761 shares of the software maker’s stock worth $181,000 after acquiring an additional 1,929 shares during the period. Finally, Riverhead Capital Management LLC grew its stake in Manhattan Associates by 79.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,760 shares of the software maker’s stock worth $181,000 after acquiring an additional 1,660 shares during the period.
Several research firms recently commented on MANH. BidaskClub lowered Manhattan Associates from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. KeyCorp reissued a “hold” rating on shares of Manhattan Associates in a report on Tuesday, October 17th. Zacks Investment Research upgraded shares of Manhattan Associates from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Finally, SunTrust Banks, Inc. upgraded shares of Manhattan Associates from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Tuesday, October 3rd. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $65.00.
About Manhattan Associates
Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company operates through three geographical segments: the Americas, Europe, Middle East and Africa (EMEA), and the Asia Pacific (APAC). It is engaged in developing, selling, deploying, servicing and maintaining software solutions designed to manage supply chains, inventory and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers and other organizations.
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