MANHATTAN ASSOCIATES INC (MANH)

Services-Prepackaged Software

Latest Price

$209.62

TTM P/E

60.06

Normalized P/E

72.18

Div Yield

Book Value

2.66

P/B Ratio

78.82

Valuation metrics

EPS: $3.60

Book value / share: $5.26

Formula: √(22.5 × EPS × BVPS)

Graham Number

$20.64

90% downside

Norm. op. income: $153M (median of 7yr)

Tax rate: 18%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$26.30

87% downside

Base FCF: $241M (median of recent 5yr)

Growth: 22%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$243.45

+16% upside

EPS: $3.60

Target P/E: 72×

Formula: EPS × P/E

P/E Fair Value

$259.20

+24% upside

100.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	6.78M	$944.0M	11.63%	-63.3K	2026-06-30
VANGUARD PORTFOLIO MANAGEMENT LLC	3.86M	$537.0M	6.62%	-11.9K	2026-06-30
FMR LLC	3.61M	$502.0M	6.19%	+307.9K	2026-06-30
T. Rowe Price Investment Management, Inc.	3.39M	$472.0M	5.82%	-153.0K	2026-06-30
AQR CAPITAL MANAGEMENT LLC	3.33M	$458.0M	5.71%	+166.4K	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	2.67M	$372.0M	4.59%	-9.0K	2026-06-30
MORGAN STANLEY	2.67M	$371.0M	4.57%	-164.9K	2026-06-30
ALLIANCEBERNSTEIN L.P.	2.30M	$305.0M	3.94%	-817.1K	2026-06-30
STATE STREET CORP	1.91M	$265.0M	3.27%	+43.1K	2026-06-30
GEODE CAPITAL MANAGEMENT, LLC	1.88M	$264.0M	3.22%	+65.1K	2026-06-30