Manhattan Associates (MANH)
Builds the Manhattan Active cloud platform that runs warehouse, transportation, and store fulfillment operations.
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Builds warehouse, transportation, and order-management software for retailers, wholesalers, and logistics providers, delivered through a single cloud-native platform launched under the Manhattan Active brand. Cloud subscriptions have become the core growth engine as customers migrate off older on-premise systems, pushing recurring revenue past half of total sales.
Founded in 1990 to sell warehouse-management software to manufacturers facing new retailer compliance rules, the company grew through acquisitions into transportation management, demand planning, and store systems. Its current lineup runs on Manhattan Active, a single cloud-native platform spanning warehouse, transportation, omnichannel order management, and supply-chain planning.
Customers are concentrated in retail, wholesale, and consumer-goods manufacturing, with logistics, life-sciences, and industrial companies adding to the mix. Most revenue comes from the Americas, though international business across Europe and Asia-Pacific continues to expand.
The shift from one-time licenses to cloud subscriptions has made revenue more recurring but slower to recognize, and implementation services still account for close to half of sales. Competitors include large ERP vendors that bundle supply-chain modules alongside smaller specialists focused on single functions.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 26, 2026 | Robert W. Baird | Target | Target: $212 | Target: $260 |
| Jul 29, 2026 | DA Davidson | Reiterate | Rating: —Target: $250 | Target: $210 |
| Jul 29, 2026 | Morgan Stanley | Target | Target: $165 | Target: $180 |
| Jul 29, 2026 | Stifel Nicolaus | Target | Target: $200 | Target: $225 |
| Jul 29, 2026 | Loop Capital Markets | Reiterate | Rating: —Target: $265 | Target: $215 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $186.1M · Total debt $53.9M · Total assets $698.6M · Shareholders' equity $157.5M
- Revenue
- $297.8M
- Operating income
- $66.2M
- Net income
- $50.4M
No dividends on record.
| Institutions | 110.44% | 64.39M shares | |
|---|---|---|---|
| 516 holders · as of Jun 30, 2026 | |||
| Insiders | 1.40% | 814.0K shares | |
| 13 holders · as of Aug 11, 2026 | |||
| Adds to | 111.84% | ||
58.30M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 111.84%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 11.63% | 6.78M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 6.62% | 3.86M | as of Jun 30, 2026 |
FMR LLCInstitution | 6.19% | 3.61M | as of Jun 30, 2026 |
T. Rowe Price Investment Management, Inc.Institution | 5.82% | 3.39M | as of Jun 30, 2026 |
AQR Capital Management LLCInstitution | 5.71% | 3.33M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 11, 2026 | Eric Andrew Clark | director, officer: President & CEO | −3,000 | $197.76 |
| Aug 6, 2026 | Linda T. Hollembaek | director | −1,579 | $189.88 |
| Jul 30, 2026 | James Stewart Gantt | officer: EVP, Professional Services | −5,139 | $195.53 |
| Jun 10, 2026 | Eric Andrew Clark | director, officer: President & CEO | −1,000 | $146.77 |
| Apr 24, 2026 | James Stewart Gantt | officer: EVP, Professional Services | −7,300 | $139.25 |
- Oracle
Bundles ERP with warehouse, transportation, and retail POS competition
- SAP (ADR)
Mega-vendor ERP rival contesting warehouse, transport, and planning
- The Descartes Systems Group
Logistics-network specialist contesting transportation execution deals
- SPS Commerce
Retail trading-partner network overlapping on supply-chain connectivity
- Salesforce
Commerce Cloud and Order Management overlap with the omnichannel suite
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Manhattan Associates | $204.56 | −2.29% | $12.21B | 60.0 | 35.2 | 10.8 | +9.3% |
| Oracle | $149.81 | +0.84% | $427.95B | 23.3 | 17.6 | 6.0 | +29.6% |
| SAP (ADR) | $208.13 | −0.52% | $243.79B | 26.8 | 22.8 | 5.6 | +5.8% |
| The Descartes Systems Group | $78.17 | −1.54% | $6.80B | 36.8 | 31.5 | 8.8 | +10.7% |
| SPS Commerce | $80.85 | −0.98% | $2.94B | 39.4 | 15.9 | 3.8 | +5.6% |
| Salesforce | $232.57 | −1.63% | $193.63B | 21.6 | 15.9 | 4.4 | +10.8% |
| Median | 26.8 | 17.6 | 5.6 | +10.7% |