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

Manhattan Associates, Inc. (NASDAQ:MANH) was the target of a large increase in short interest in the month of August. As of August 15th, there was short interest totalling 2,140,000 shares, an increase of 19.6% from the July 31st total of 1,790,000 shares. Currently, 3.5% of the shares of the company are short sold. Based on an average trading volume of 458,500 shares, the short-interest ratio is currently 4.7 days.

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $264.43 on Friday. Manhattan Associates has a fifty-two week low of $182.97 and a fifty-two week high of $266.94. The company has a market cap of $16.28 billion, a price-to-earnings ratio of 86.42 and a beta of 1.50. The stock has a fifty day moving average price of $247.24 and a 200-day moving average price of $238.98.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.22. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The business had revenue of $265.30 million during the quarter, compared to analysts’ expectations of $255.83 million. During the same quarter in the prior year, the business posted $0.63 earnings per share. Manhattan Associates’s revenue was up 14.8% compared to the same quarter last year. Research analysts predict that Manhattan Associates will post 3.01 EPS for the current fiscal year.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of Manhattan Associates stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the completion of the transaction, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at $11,872,615.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.72% of the stock is owned by company insiders.

Institutional Trading of Manhattan Associates

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Manhattan Associates by 0.9% during the first quarter. Vanguard Group Inc. now owns 6,671,321 shares of the software maker’s stock worth $1,669,365,000 after purchasing an additional 58,905 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Manhattan Associates by 16.8% during the 4th quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker’s stock worth $187,967,000 after buying an additional 125,541 shares in the last quarter. Norges Bank bought a new stake in shares of Manhattan Associates during the 4th quarter worth $146,984,000. TD Asset Management Inc boosted its stake in Manhattan Associates by 10.5% in the first quarter. TD Asset Management Inc now owns 607,167 shares of the software maker’s stock valued at $151,931,000 after buying an additional 57,859 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Manhattan Associates by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker’s stock valued at $149,023,000 after acquiring an additional 2,156 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on MANH. DA Davidson raised their price objective on shares of Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Citigroup boosted their price target on Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a research note on Friday, June 28th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Loop Capital lifted their target price on Manhattan Associates from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Redburn Atlantic started coverage on shares of Manhattan Associates in a research note on Tuesday, May 14th. They issued a “buy” rating and a $260.00 price target on the stock. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Manhattan Associates presently has an average rating of “Moderate Buy” and a consensus price target of $257.43.

About Manhattan Associates

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.