The transactions were executed at prices ranging from $288.0626 to $289.2109 per share. Following these sales, Gantt retains ownership of 42,812 shares in the company. The sales were conducted as part of routine transactions, with Gantt maintaining a direct ownership stake in the company. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with 14 key insights available to subscribers, including metrics on valuation multiples and growth potential. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with 14 key insights available to subscribers, including metrics on valuation multiples and growth potential.
The transactions were executed at prices ranging from $288.0626 to $289.2109 per share. Following these sales, Gantt retains ownership of 42,812 shares in the company. The sales were conducted as part of routine transactions, with Gantt maintaining a direct ownership stake in the company.
In other recent news, Manhattan Associates (NASDAQ:MANH) reported robust Q3 financial results, including a 12% increase in total revenue to $267 million and a 29% rise in adjusted earnings per share to $1.35. The company's cloud subscription revenue saw a significant increase of 33%, attributed to high demand for its innovative cloud services, notably the new Manhattan Active Supply Chain Planning solution. The firm's remaining performance obligation (RPO) also grew by 27% to approximately $1.7 billion.
In addition to these financial highlights, Manhattan Associates has tightened its 2024 revenue guidance to a range of $1.039 billion to $1.041 billion, with a raised operating margin midpoint to 34%. Preliminary targets for 2025 include total revenue of $1.13 billion to $1.14 billion and a cloud revenue growth of 23%.
On the analyst front, Piper Sandler initiated coverage on Manhattan Associates with an Overweight rating and a price target of $326.00. The firm highlighted Manhattan Associates' expertise in navigating complex environments in the supply chain sector and recognized the company's potential for a migration opportunity exceeding $3 billion. Piper Sandler also noted a mandated SAP migration, estimated to be a $375 million opportunity, as a significant factor that could contribute to the company's opportunity pipeline over the next 3 to 5 years. These recent developments underscore Manhattan Associates' solid growth trajectory driven by strong demand for its cloud-based solutions and services.
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