Manhattan Associates, Inc. (NASDAQ:MANH – Get Rating) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totalling 1,360,000 shares, a drop of 19.5% from the August 15th total of 1,690,000 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily volume of 311,800 shares, the days-to-cover ratio is presently 4.4 days.
Manhattan Associates Stock Performance
Shares of NASDAQ MANH opened at $137.74 on Monday. Manhattan Associates has a 1 year low of $106.02 and a 1 year high of $188.52. The stock's 50-day simple moving average is $137.15 and its 200-day simple moving average is $130.49. The firm has a market cap of $8.64 billion, a price-to-earnings ratio of 74.05 and a beta of 1.84.
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Manhattan Associates (NASDAQ:MANH – Get Rating) last posted its quarterly earnings data on Tuesday, July 26th. The software maker reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.16. Manhattan Associates had a return on equity of 51.87% and a net margin of 16.67%. During the same quarter in the prior year, the firm posted $0.48 EPS. As a group, research analysts predict that Manhattan Associates will post 1.61 EPS for the current year.
Insider Buying and Selling
In other Manhattan Associates news, CEO Eddie Capel sold 15,000 shares of Manhattan Associates stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $141.07, for a total value of $2,116,050.00. Following the completion of the sale, the chief executive officer now owns 259,023 shares in the company, valued at approximately $36,540,374.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Manhattan Associates news, VP Bruce Richards sold 2,160 shares of Manhattan Associates stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $148.30, for a total value of $320,328.00. Following the completion of the sale, the vice president now owns 14,257 shares in the company, valued at approximately $2,114,313.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eddie Capel sold 15,000 shares of the business's stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $141.07, for a total value of $2,116,050.00. Following the sale, the chief executive officer now owns 259,023 shares of the company's stock, valued at approximately $36,540,374.61. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,160 shares of company stock worth $2,576,378. 0.78% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Manhattan Associates
A number of institutional investors have recently made changes to their positions in MANH. Private Trust Co. NA acquired a new stake in shares of Manhattan Associates during the 2nd quarter valued at approximately $30,000. Private Capital Group LLC raised its position in shares of Manhattan Associates by 66.7% during the 1st quarter. Private Capital Group LLC now owns 235 shares of the software maker's stock valued at $33,000 after acquiring an additional 94 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of Manhattan Associates during the 2nd quarter valued at approximately $33,000. Castle Wealth Management LLC acquired a new stake in shares of Manhattan Associates during the 2nd quarter valued at approximately $35,000. Finally, Quadrant Capital Group LLC raised its position in shares of Manhattan Associates by 168.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 314 shares of the software maker's stock valued at $36,000 after acquiring an additional 197 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the company. Rosenblatt Securities decreased their target price on Manhattan Associates from $165.00 to $150.00 and set a "buy" rating for the company in a report on Friday, July 22nd. StockNews.com cut Manhattan Associates from a "buy" rating to a "hold" rating in a report on Thursday, July 28th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $178.75.
About Manhattan Associates
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Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Manhattan SCALE, a portfolio of logistics execution solutions that provide trading partner management, yard management, optimization, warehouse management, and transportation execution services; and Manhattan Active, a set of enterprise and store omni-channel solutions.
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