BUZZ-Manhattan Associates fall after CEO Eddie Capel retires

Reuters

11 Feb

BUZZ-Manhattan Associates fall after CEO Eddie Capel retires

** Shares of Manhattan Associates MANH.O drop 8% to $184.36 on Mon after software firm announces retirement of President and CEO Eddie Capel

** MANH on track for lowest close since Oct 2023 and biggest daily pct drop since Jan 29

** Capel retirement is effective Feb. 12. He will continue to serve as executive vice chairman, assisting with CEO transition and special projects, according to a statement on Mon

** Capel will be succeeded by Eric Clark, who has been serving as CEO of NTT Data North America. Clark will also join the MANH's board

** Among the 11 analysts that cover MANH, median PT is $270 and avg rating is "BUY"

** With today's move, MANH is down ~32% YTD after gaining ~26% in 2024

(Reporting by Chibuike Oguh in New York)

((Chibuike.Oguh@thomsonreuters.com; +332-219-1834; Reuters Messaging: chibuike.oguh.thomsonreuters.com@reuters.net))

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