MANHATTAN ASSOCIATES INC
MANH · Services-Prepackaged Software · 59.2M shares · -1%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $124M (gross $196M, SBC $72M)
Reference price $146.77 · est. market cap ~$8.7B — last insider sale, 2026-06-10 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
A82Supply-chain software franchise with elite returns and free cash flow; growth is modest.
Strengths
- Elite returns and FCF — ROA 26.2% (100th), ROE 69.9% (93rd), FCF margin 34.6% (92nd)
- Strong margins — operating margin 25.9% (88th), net margin 20.3%
- Cloud-subscription momentum — per 10-K
Risks
- Modest growth — revenue +3.7% (36th)
- Dependence on cloud-subscription/services attach per risk factors — per 10-K
- Tight liquidity — current ratio 1.28 (33rd)
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Customer concentration~65% of revenue from one customer/distributor — In 2025, we generated approximately 65% of our total revenue in the United States, 20% in EMEA, and the remaining balance in APAC, Canada, and Latin America
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, Bridgewater Associates, LP
- Strong balance sheetStrong balance sheet — $329M cash & investments
- Notable holderHeld by 5 notable fund(s): FMR LLC, STATE STREET CORP, RENAISSANCE TECHNOLOGIES LLC +2 more (as of 2026-03-31)
- Insider sellingInsider selling — 2 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, ~$1M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
56.3%
Operating margin
25.9%
Net margin
20.3%
Return on equity
69.9%
Return on assets
26.2%
Revenue growth (QoQ)
4.4%
Net-income growth
0.7%
Current ratio
1.3×
Free cash flow
$374M
EBITDA
$286M
Tangible book value
$253M
Cash & investments
$329M
Stock comp / revenue
10.3%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-15 | MORAN CHARLES E | Gift | 1.3K | — |
| 2026-06-10 | Clark Eric Andrew | Sell | 1.0K | $146.77 |
| 2026-05-14 | Kuryea Kimberly A | Grant | 1.9K | — |
| 2026-05-14 | Hollembaek Linda T. | Grant | 1.9K | — |
| 2026-05-14 | NOONAN THOMAS E | Grant | 1.9K | — |
| 2026-05-14 | Eger Edmond | Grant | 1.9K | — |
| 2026-05-14 | MORAN CHARLES E | Grant | 1.9K | — |
| 2026-05-14 | Capel Eddie | Grant | 1.9K | — |
| 2026-05-14 | SHEER DANIELLE | Grant | 1.9K | — |
| 2026-04-24 | Gantt James Stewart | Sell | 7.3K | $139.25 |
| 2026-04-01 | Pinne Linda C. | Grant | 5.3K | — |
| 2026-02-28 | STORY DENNIS B | Tax withheld | 1.3K | $135.43 |
| 2026-02-28 | Richards Bruce | Tax withheld | 508 | $135.43 |
| 2026-02-28 | Pinne Linda C. | Tax withheld | 75 | $135.43 |
| 2026-02-28 | Howell Robert G | Tax withheld | 1.5K | $135.43 |
| 2026-02-28 | Clark Eric Andrew | Tax withheld | 1.6K | $135.43 |
| 2026-02-28 | Capel Eddie | Tax withheld | 2.2K | $135.43 |
| 2026-02-28 | Gantt James Stewart | Tax withheld | 1.5K | $135.43 |
| 2026-02-14 | Clark Eric Andrew | Tax withheld | 4.8K | $140.45 |
| 2026-02-04 | Clark Eric Andrew | Grant | 34K | — |
| 2026-02-04 | Gantt James Stewart | Grant | 14K | — |
| 2026-02-04 | Howell Robert G | Grant | 14K | — |
| 2026-02-04 | Pinne Linda C. | Grant | 2.0K | — |
| 2026-02-04 | Richards Bruce | Grant | 3.4K | — |
| 2026-02-04 | STORY DENNIS B | Grant | 14K | — |
| 2026-01-31 | Pinne Linda C. | Tax withheld | 1.3K | $151.01 |
| 2026-01-31 | Clark Eric Andrew | Tax withheld | 878 | $151.01 |
| 2026-01-31 | Capel Eddie | Tax withheld | 26K | $151.01 |
| 2026-01-31 | STORY DENNIS B | Tax withheld | 9.5K | $151.01 |
| 2026-01-31 | Howell Robert G | Tax withheld | 8.2K | $151.01 |
| 2026-01-31 | Richards Bruce | Tax withheld | 2.3K | $151.01 |
| 2026-01-31 | Gantt James Stewart | Tax withheld | 6.4K | $151.01 |
| 2026-01-22 | Pinne Linda C. | Grant | 217 | — |
| 2026-01-22 | Pinne Linda C. | Grant | 798 | — |
| 2026-01-22 | Richards Bruce | Grant | 975 | — |
| 2026-01-22 | Richards Bruce | Grant | 3.6K | — |
| 2026-01-22 | Gantt James Stewart | Grant | 10K | — |
| 2026-01-22 | Gantt James Stewart | Grant | 2.8K | — |
| 2026-01-22 | Capel Eddie | Grant | 20K | — |
| 2026-01-22 | Clark Eric Andrew | Grant | 16K | — |
| 2026-01-22 | Howell Robert G | Grant | 2.8K | — |
| 2026-01-22 | Howell Robert G | Grant | 10K | — |
| 2026-01-22 | STORY DENNIS B | Grant | 2.6K | — |
| 2026-01-22 | STORY DENNIS B | Grant | 9.4K | — |
| 2025-12-09 | Eger Edmond | Gift | 5.7K | — |
| 2025-12-09 | Richards Bruce | Gift | 351 | — |
| 2025-11-28 | Clark Eric Andrew | Sell | 1.6K | $176.40 |
| 2025-10-21 | MORAN CHARLES E | Gift | 21K | — |
| 2025-08-28 | Gantt James Stewart | Sell | 1.3K | $218.62 |
| 2025-08-28 | Gantt James Stewart | Sell | 1.0K | $218.79 |
| 2025-07-30 | Richards Bruce | Grant | 974 | — |
| 2025-07-30 | STORY DENNIS B | Grant | 2.6K | — |
| 2025-07-30 | Pinne Linda C. | Grant | 216 | — |
| 2025-07-30 | Howell Robert G | Grant | 2.8K | — |
| 2025-07-30 | Gantt James Stewart | Grant | 2.8K | — |
| 2025-07-29 | Capel Eddie | Sell | 596 | $225.04 |
| 2025-07-29 | Capel Eddie | Sell | 4.0K | $221.47 |
| 2025-07-29 | Capel Eddie | Sell | 4.6K | $219.48 |
| 2025-07-29 | Capel Eddie | Sell | 5.4K | $222.12 |
| 2025-07-29 | Capel Eddie | Sell | 6.3K | $224.37 |
| 2025-07-29 | Capel Eddie | Sell | 7.1K | $220.21 |
| 2025-07-29 | Capel Eddie | Sell | 9.4K | $223.66 |
| 2025-07-29 | Hollembaek Linda T. | Sell | 300 | $222.18 |
| 2025-07-29 | Hollembaek Linda T. | Sell | 1.7K | $221.42 |
| 2025-07-25 | Gantt James Stewart | Sell | 2.3K | $220.33 |
| 2025-05-13 | SHEER DANIELLE | Grant | 1.3K | — |
| 2025-05-13 | NOONAN THOMAS E | Grant | 1.3K | — |
| 2025-05-13 | MORAN CHARLES E | Grant | 1.3K | — |
| 2025-05-13 | Kuryea Kimberly A | Grant | 1.3K | — |
| 2025-05-13 | Hollembaek Linda T. | Grant | 1.3K | — |
| 2025-05-13 | Eger Edmond | Grant | 1.3K | — |
| 2025-03-06 | STORY DENNIS B | Sell | 2.8K | $170.83 |
| 2025-02-28 | STORY DENNIS B | Tax withheld | 640 | $176.88 |
| 2025-02-28 | Richards Bruce | Tax withheld | 228 | $176.88 |
| 2025-02-28 | Pinne Linda C. | Tax withheld | 79 | $176.88 |
| 2025-02-28 | Howell Robert G | Tax withheld | 525 | $176.88 |
| 2025-02-28 | Gantt James Stewart | Tax withheld | 489 | $176.88 |
| 2025-02-28 | Capel Eddie | Tax withheld | 3.0K | $176.88 |
| 2025-02-14 | Clark Eric Andrew | Tax withheld | 5.6K | $190.41 |
| 2025-02-12 | Clark Eric Andrew | Grant | 44K | — |
| 2025-02-12 | Clark Eric Andrew | Grant | 14K | — |
| 2025-01-31 | Capel Eddie | Tax withheld | 27K | $208.59 |
| 2025-01-31 | Gantt James Stewart | Tax withheld | 5.2K | $208.59 |
| 2025-01-31 | Howell Robert G | Tax withheld | 7.1K | $208.59 |
| 2025-01-31 | Richards Bruce | Tax withheld | 2.3K | $208.59 |
| 2025-01-31 | Pinne Linda C. | Tax withheld | 1.1K | $208.59 |
| 2025-01-31 | STORY DENNIS B | Tax withheld | 8.7K | $208.59 |
| 2025-01-23 | Richards Bruce | Grant | 2.0K | — |
| 2025-01-23 | Richards Bruce | Grant | 1.8K | — |
| 2025-01-23 | Richards Bruce | Grant | 1.3K | — |
| 2025-01-23 | Pinne Linda C. | Grant | 1.1K | — |
| 2025-01-23 | Pinne Linda C. | Grant | 676 | — |
| 2025-01-23 | Gantt James Stewart | Grant | 5.8K | — |
| 2025-01-23 | Gantt James Stewart | Grant | 4.4K | — |
| 2025-01-23 | Gantt James Stewart | Grant | 2.9K | — |
| 2025-01-23 | Howell Robert G | Grant | 5.8K | — |
| 2025-01-23 | Howell Robert G | Grant | 4.7K | — |
| 2025-01-23 | Howell Robert G | Grant | 2.9K | — |
| 2025-01-23 | STORY DENNIS B | Grant | 5.7K | — |
| 2025-01-23 | STORY DENNIS B | Grant | 4.4K | — |
| 2025-01-23 | STORY DENNIS B | Grant | 3.6K | — |
| 2025-01-23 | Capel Eddie | Grant | 26K | — |
| 2025-01-23 | Capel Eddie | Grant | 17K | — |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (0)
Suppliers (1)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-01 | 2.05Reg FD | filing ↗ |
| 2026-05-20 | Exec/director changeExhibits | filing ↗ |
| 2026-05-18 | Shareholder vote | filing ↗ |
| 2026-04-21 | ResultsExhibits | filing ↗ |
| 2026-04-02 | Exec/director changeExhibits | filing ↗ |
| 2026-02-26 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-01-27 | ResultsExhibits | filing ↗ |
| 2025-10-21 | ResultsExec/director changeExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-01 | 2026-06-01 | 0001193125-26-251382 ↗ |
| 8-K | 2026-05-20 | 2026-05-14 | 0001193125-26-232142 ↗ |
| 8-K | 2026-05-18 | 2026-05-14 | 0001193125-26-228194 ↗ |
| 10-Q | 2026-04-24 | 2026-03-31 | 0001193125-26-175715 ↗ |
| 8-K | 2026-04-21 | 2026-04-21 | 0001193125-26-166709 ↗ |
| 8-K/A | 2026-04-02 | 2026-03-27 | 0001193125-26-140163 ↗ |
| 8-K | 2026-02-26 | 2026-02-25 | 0001193125-26-073584 ↗ |
| 10-K | 2026-02-04 | 2025-12-31 | 0001193125-26-037138 ↗ |
| 8-K | 2026-01-27 | 2026-01-27 | 0001193125-26-024382 ↗ |
| 10-Q | 2025-10-24 | 2025-09-30 | 0001193125-25-249633 ↗ |
| 8-K | 2025-10-21 | 2025-10-21 | 0001193125-25-245073 ↗ |
| 10-Q | 2025-07-25 | 2025-06-30 | 0000950170-25-098656 ↗ |