Insider Selling: Manhattan Associates (NASDAQ:MANH) Director Sells 3,592 Shares of Stock

Manhattan Associates (NASDAQ:MANH) Director John J. Huntz, Jr. sold 3,592 shares of the stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $45.52, for a total transaction of $163,507.84. Following the sale, the director now directly owns 70,799 shares of the company’s stock, valued at approximately $3,222,770.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of MANH stock traded down $0.25 during trading hours on Friday, hitting $41.78. 539,453 shares of the company were exchanged, compared to its average volume of 554,877. The company has a market cap of $2,791.70, a price-to-earnings ratio of 24.29 and a beta of 1.24. Manhattan Associates has a fifty-two week low of $39.10 and a fifty-two week high of $54.21.

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Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. Manhattan Associates had a net margin of 19.59% and a return on equity of 72.02%. The company had revenue of $144.09 million during the quarter, compared to the consensus estimate of $144.86 million. During the same quarter last year, the firm posted $0.46 EPS. The company’s quarterly revenue was down 2.4% on a year-over-year basis. equities analysts expect that Manhattan Associates will post 1.29 EPS for the current year.

Manhattan Associates declared that its Board of Directors has initiated a share repurchase program on Tuesday, February 6th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the software maker to purchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Several institutional investors and hedge funds have recently modified their holdings of MANH. Disciplined Growth Investors Inc. MN bought a new position in shares of Manhattan Associates in the 3rd quarter worth $38,456,000. Carillon Tower Advisers Inc. bought a new position in shares of Manhattan Associates in the 4th quarter worth $38,930,000. Brown Capital Management LLC lifted its holdings in shares of Manhattan Associates by 10.4% in the 4th quarter. Brown Capital Management LLC now owns 7,845,670 shares of the software maker’s stock worth $388,674,000 after purchasing an additional 737,820 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Manhattan Associates by 32.9% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,482,575 shares of the software maker’s stock worth $103,201,000 after purchasing an additional 614,105 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Manhattan Associates by 756.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 575,442 shares of the software maker’s stock worth $23,921,000 after purchasing an additional 508,215 shares in the last quarter.

Several analysts have recently commented on the stock. BidaskClub raised shares of Manhattan Associates from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Zacks Investment Research downgraded shares of Manhattan Associates from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. ValuEngine downgraded shares of Manhattan Associates from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Finally, TheStreet downgraded shares of Manhattan Associates from a “b-” rating to a “c+” rating in a research report on Tuesday, February 20th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $55.00.

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About Manhattan Associates

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers, and other organizations. The company provides supply chain solutions, including distribution management, transportation management, and visibility solutions; omni-channel solutions; and inventory optimization and planning solutions.

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