What Happened?
Shares of supply chain software provider Manhattan Associates (NASDAQ: MANH) fell 5.1% in the afternoon session after Anthropic announced that its Claude AI assistant can now control computers to complete tasks by imitating human keystrokes and mouse movements.
Investors reacted to the possibility that enterprise value would migrate from the application layer to the intelligence layer, leaving legacy software providers vulnerable to displacement by autonomous agents that can operate across platforms. Analysts added that the "agentic era" could lead to massive margin compression as software companies lose their pricing power.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Manhattan Associates? Access our full analysis report here, it’s free.
What Is The Market Telling Us
Manhattan Associates’s shares are somewhat volatile and have had 12 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 18 days ago when the stock gained 3.2% on the news that the company announced that its board of directors approved an increase in its share repurchase authority to $500 million from $100 million.
This move, effective immediately, meant the company could buy back a larger amount of its own stock from the market. Such actions can reduce the number of shares available to the public, which may increase the value of the remaining shares. A larger buyback program often signals that a company's leadership believes its stock is a good investment and is confident in its future performance. One report noted that the company's management had already been actively repurchasing shares prior to this increased authorization.
Manhattan Associates is down 20.6% since the beginning of the year, and at $132.85 per share, it is trading 41.7% below its 52-week high of $227.94 from July 2025. Despite the year-to-date decline, investors who bought $1,000 worth of Manhattan Associates’s shares 5 years ago would now be looking at an investment worth $1,149.
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