MANHATTAN ASSOCIATES INC(MANH)Stock Analysis
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Rank #334 of 2,879 stocksTOP 25%
Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.
Revenue Growth
Profitability
Balance Sheet
Earnings Quality
Free Cash Flow
Institutional Flow
Revenue Scale
Dilution Risk
MANH Stock Analysis & AI Quality Score
AI stock analysis and institutional research for MANHATTAN ASSOCIATES INC (MANH), a Technology sector company. 13F Pro's AI-powered ranking engine scores MANH at 70.1/100 on a 32-signal composite quality model, placing it at rank #334 of 2,879 stocks — the top 25% of the AI-ranked universe. MANH scores in the top quartile across balance sheet strength (98.4), free cash flow (85.0), profitability (81.3). Shareholder dilution risk is elevated at 16.6/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), MANHATTAN ASSOCIATES INC reports quarterly revenue of $282.2M, net income of $49.3M, an operating margin of 23.0%. Top institutional holders of MANH by reported 13-F value include BlackRock,, ALLIANCEBERNSTEIN L.P., VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. MANH trades on the Nasdaq exchange and files with the SEC under CIK 1056696. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate MANH daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for MANHATTAN ASSOCIATES INC directly from SEC EDGAR. MANHATTAN ASSOCIATES INC's 13F Pro composite quality score has ranged between 8 and 78 since 2021, currently 70.1 — an improving long-term trajectory across 56 quarterly and live scoring snapshots.
What's Driving MANH's Business? Latest 10-Q Breakdown
✓ 35/35 datapoints verifiedAI-extracted from MANHATTAN ASSOCIATES INC's 10-Q filed 2026-04-24 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Cloud subscriptions revenue surged 24% YoY to $117.1M, driving total Q1 revenue to $282.2M (+7% YoY), though operating margin compressed 100bps to 23.0% due to elevated S&M spending.
Biggest Revenue Drivers
Total revenue: $282.2M+7% YoY
Increased demand for cloud-based solutions; approximately 80% of professional services revenue relates to cloud subscriptions.
Strong demand for cloud offerings; customers demonstrate clear preference for cloud-based solutions and migration from on-premise to cloud.
Decline driven by customer demand for cloud-based solutions over perpetual software licenses.
Resale of third-party hardware products; sales largely dependent upon customer-specific desires which fluctuate.
Decrease predominantly driven by one large contract with existing customer in prior year period.
Largest Expense Items
$5.9M increase in compensation and personnel expenses, $3.6M increase in computer infrastructure costs, $1.6M increase in performance-based compensation.
$2.8M increase in compensation and personnel expenses, $2.3M increase in performance-based compensation, $1.2M increase in marketing programs.
$1.3M increase in compensation and personnel expenses, $0.4M increase in performance-based compensation.
$2.8M decrease in stock compensation, $3.0M decrease in signing bonus (CEO hiring in prior year); offset by $3.8M insurance recovery impact and increased professional fees.
Margins: Operating margin declined 100 basis points to 23.0% despite cloud revenue growth of 24%, primarily due to a 32% increase in sales and marketing expenses ($6.7M) to support growth initiatives, partially offset by 2% reduction in G&A.
Watch Items from the Filing
- EMEA operating income declined 17% YoY to $19.7M despite 33% cloud subscription growth, driven by margin pressure and cost deleverage; EMEA total revenue flat at $53.7M (−3% YoY).
- Three securities lawsuits pending (Prime Action, City of Orlando Action consolidated, Ayers derivative action) alleging violations of Sections 10(b)/20(a) of Exchange Act for statements between July 2024–February 2025; outcome and loss range unestimatable at early stage.
- Remaining performance obligations (RPO) of $2.3B increased 24% YoY; over 98% represent non-cancelable cloud subscriptions with >1-year terms; 38% expected to recognize within 24 months.
- Cash used for share repurchases increased to $179.4M in Q1 2026 from $136.4M in Q1 2025; Board approved increase of repurchase authority from $100M to $500M in March 2026, with $350M remaining.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Revenue
Q1 2026
$282.2M
Net Income
Q1 2026
$49.3M
Free Cash Flow
Q1 2026
$79.9M
Operating Margin
Q1 2026
23.0%
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
+3.7% YoYNet Income
+0.7% YoYOperating Income
+7.0% YoYEPS (Diluted)
+2.6% YoYTotal Assets
+10.8% YoYOp. Cash Flow
+32.0% YoY| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $1.08B +3.7% | $1.04B +12.2% | $928.7M +21.1% | $767.1M +15.6% | $663.6M +13.2% | $586.4M |
| Net Income | $219.9M +0.7% | $218.4M +23.7% | $176.6M +36.9% | $129.0M +16.7% | $110.5M +26.6% | $87.2M |
| Operating Income | $279.8M +7.0% | $261.6M +24.6% | $209.9M +37.4% | $152.7M +13.7% | $134.3M +17.8% | $114.1M |
| EPS (Diluted) | $3.60 +2.6% | $3.51 +24.5% | $2.82 +38.9% | $2.03 +18.0% | $1.72 +26.5% | $1.36 |
| Total Assets | $839.4M +10.8% | $757.6M +12.5% | $673.4M +18.1% | $570.2M +5.6% | $539.7M +16.0% | $465.4M |
| Operating Cash Flow | $389.5M +32.0% | $295.0M +19.8% | $246.2M +37.1% | $179.6M -3.0% | $185.2M +31.4% | $140.9M |
AI Insight: MANH Financial Trends
Revenue growth accelerated to 7.2% year-over-year in Q1 2026, but net income declined for the second consecutive quarter.
• Revenue increased from $263M in Q1 2025 to $282M in Q1 2026, representing 7.2% year-over-year growth.
• Operating cash flow strengthened significantly in Q4 2025 to $147M from $93M in Q3 2025.
• Net income declined from $59M in Q3 2025 to $49M in Q1 2026 over two quarters.
⚠ Equity dropped sharply from $315M in Q4 2025 to $205M in Q1 2026, a 35% decline.
⚠ Operating income margin compressed from 27.5% in Q3 2025 to 23.0% in Q1 2026.
AI Insight: MANH Ratio Trends
Operating margin compressed 450 basis points from Q3 2025 peak of 27.5% to 23.0% in Q1 2026, reversing two quarters of expansion.
• Operating margin declined from 27.5% in Q3 2025 to 23.0% in Q1 2026, erasing gains from earlier quarters.
• Net profit margin fell from 21.3% in Q3 2025 to 17.5% in Q1 2026, marking consecutive quarterly declines.
• ROA dropped from 30.5% in Q3 2025 to 26.6% in Q1 2026, down from recent highs.
• ROIC decreased from 98.1% in Q3 2025 to 85.2% in Q4 2025, showing signs of capital efficiency deterioration.
⚠ Margin volatility continues with operating margin swinging 450bp from Q3 2025 peak to Q1 2026 trough.
⚠ Q4 seasonality appears consistent across metrics, but Q1 2026 shows weaker recovery than Q1 2025.
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Top Institutional Holders of MANH
BlackRock, Inc.
$911.1M6,844,538 shALLIANCEBERNSTEIN L.P.
$539.9M3,115,087 shVANGUARD PORTFOLIO MANAGEMENT LLC
$515.1M3,869,749 shFMR LLC
$439.7M3,303,397 shAQR CAPITAL MANAGEMENT LLC
$416.6M3,162,052 shMORGAN STANLEY
$376.7M2,830,006 shVANGUARD CAPITAL MANAGEMENT LLC
$357.1M2,682,607 shSTATE STREET CORP
$247.9M1,862,430 shGEODE CAPITAL MANAGEMENT, LLC
$243.4M1,813,236 shSwedbank AB
$199.7M1,500,000 sh
| Fund | Value | Shares |
|---|---|---|
| BlackRock, Inc. | $911.1M | 6,844,538 |
| ALLIANCEBERNSTEIN L.P. | $539.9M | 3,115,087 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $515.1M | 3,869,749 |
| FMR LLC | $439.7M | 3,303,397 |
| AQR CAPITAL MANAGEMENT LLC | $416.6M | 3,162,052 |
| MORGAN STANLEY | $376.7M | 2,830,006 |
| VANGUARD CAPITAL MANAGEMENT LLC | $357.1M | 2,682,607 |
| STATE STREET CORP | $247.9M | 1,862,430 |
| GEODE CAPITAL MANAGEMENT, LLC | $243.4M | 1,813,236 |
| Swedbank AB | $199.7M | 1,500,000 |
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Is MANH a good stock to buy?
13F Pro's AI-powered analysis of MANHATTAN ASSOCIATES INC (MANH) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Technology sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for MANH are available on the MANH stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own MANH?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling MANH. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of MANHATTAN ASSOCIATES INC's investment landscape.