MANH Manhattan Associates, Inc. - Common Stock
$209.55
Price · Aug 20, 2026
Fundamentals as of Jul 31, 2026
52W Range
$119–$220
89% of range
Analyst Rating
BUY
19 analysts
Price Target
$207
P/E (TTM)
58.2
ROE
74.1%
Net Profit Margin
20.3%
About Manhattan Associates, Inc. - Common Stock Company overview from Wikipedia
MANH Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$209.55
Market Cap
$12.54B
P/E (TTM)
58.2
EPS (TTM)
$3.60
Revenue (TTM)
$1.08B
Div Yield
—
ROE
74.1%
Debt/Equity
—
52W Range
$119 – $220
MANH Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$1.08B
2016-12-31
→
2025-12-31
EPS
$3.60
2016-12-31
→
2025-12-31
Free Cash Flow
$374M
2016-12-31
→
2025-12-31
Margins
20.3%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
MANH
Peer Median
P/E (TTM)
58.2
50.3
P/S (TTM)
11.6
8.5
P/B
39.8
5.9
Price / FCF
33.5
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
MANH
Peer Median
Operating Margin
25.9%
—
Net Profit Margin
20.3%
13.6%
ROA
27.6%
6.6%
ROE
74.1%
11.0%
ROIC
68.4%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
MANH
Peer Median
Current Ratio
1.3
1.2
Quick Ratio
1.2
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
MANH
Peer Median
Revenue YoY
3.8%
—
Revenue CAGR 3Y
12.1%
—
Revenue CAGR 5Y
13.0%
—
EPS YoY
2.6%
—
Net Income YoY
0.73%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
MANH
Peer Median
MANH Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
19 analysts
- Strong Buy 6 31.6%
- Buy 10 52.6%
- Hold 3 15.8%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
11 analysts · 2026-08-16
Median
$210.00
Now
$209.55
Low
$180.00
High
$240.00
Median target
$210.00
+0.2%
Mean target
$207.00
-1.2%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.11%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $1.39 | $1.34 | 0.05% |
| March 31, 2026 | $1.24 | $1.14 | 0.10% |
| Dec. 31, 2025 | $1.21 | $1.14 | 0.07% |
| Sept. 30, 2025 | $1.36 | $1.20 | 0.16% |
| June 30, 2025 | $1.31 | $1.15 | 0.16% |
| March 31, 2025 | $1.19 | $1.05 | 0.14% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| MANH | $10.37B | 48.1 | 3.8% | 20.3% | 74.1% | — |
| DT | $10.90B | 68.5 | 18.8% | 8.1% | 6.0% | 81.6% |
| FIG | $19.17B | -10.1 | 41.0% | -118.4% | -85.1% | 82.4% |
| TYL | $21.86B | 63.0 | 9.1% | 13.5% | 8.6% | 46.5% |
| TRMB | $18.49B | 44.5 | -2.6% | 11.8% | 7.4% | 69.1% |
| AUR | — | — | — | — | — | — |
| DOCU | $10.45B | 35.7 | 8.2% | 9.6% | 15.8% | 79.4% |
| HUBS | $21.09B | 466.6 | 19.2% | 1.5% | 2.2% | 83.8% |
| BMNR | $10M | 3.3 | 84.1% | 5719.1% | 8.0% | — |
| SAIL | $9.16B | -30.1 | 24.3% | -25.2% | -4.0% | 64.5% |
| BSY | $11.54B | 44.9 | 11.0% | 18.5% | 24.9% | 81.5% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.08B | $1.04B | $929M | $767M | $664M | $586M | $618M | $559M | $595M | $605M | $556M | $492M | |
| Cost of Revenue | $472M | $471M | $431M | $358M | $298M | $270M | $285M | $241M | $246M | $250M | $235M | $213M | |
| R&D Expense | $145M | $138M | $127M | $112M | $98M | $84M | $88M | $72M | $58M | $55M | $54M | $49M | |
| SG&A Expense | $94M | $90M | $81M | $73M | $68M | $61M | $65M | $53M | $46M | $48M | $49M | $44M | |
| Operating Expenses | $802M | $781M | $719M | $614M | $529M | $472M | $502M | $425M | $409M | $410M | $395M | $365M | |
| Operating Income | $280M | $262M | $210M | $153M | $134M | $114M | $116M | $134M | $186M | $194M | $161M | $127M | |
| Other Non-op | $2M | $-811.0K | $-2M | $5M | $-329.0K | $-383.0K | $-562.0K | $1M | $-2M | $639.0K | $64.0K | $-394.0K | |
| Pretax Income | $286M | $267M | $214M | $158M | $134M | $114M | $116M | $136M | $185M | $196M | $163M | $128M | |
| Income Tax | $66M | $48M | $37M | $29M | $24M | $27M | $30M | $32M | $68M | $72M | $59M | $46M | |
| Net Income | $220M | $218M | $177M | $129M | $110M | $87M | $86M | $105M | $116M | $124M | $103M | $82M | |
| EPS (Basic) | $3.64 | $3.56 | $2.86 | $2.05 | $1.74 | $1.37 | $1.33 | $1.58 | $1.68 | $1.73 | $1.41 | $1.09 | |
| EPS (Diluted) | $3.60 | $3.51 | $2.82 | $2.03 | $1.72 | $1.36 | $1.32 | $1.58 | $1.68 | $1.72 | $1.40 | $1.08 | |
| Shares (Basic) | 60,473,000 | 61,303,000 | 61,817,000 | 62,768,000 | 63,445,000 | 63,538,000 | 64,397,000 | 66,201,000 | 69,175,000 | 71,674,000 | 73,443,000 | 74,995,000 | |
| Shares (Diluted) | 61,054,000 | 62,183,000 | 62,608,000 | 63,408,000 | 64,323,000 | 64,333,000 | 65,103,000 | 66,434,000 | 69,424,000 | 72,060,000 | 74,038,000 | 75,841,000 | |
| EBITDA | $280M | $262M | $210M | $153M | $134M | $114M | $116M | · | $186M | $194M | $161M | $134M |
Balance Sheet 23
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $329M | $266M | $271M | $225M | $264M | $205M | $111M | $99M | $126M | $96M | $118M | $116M | |
| Short-term Investments | · | · | · | · | · | · | · | $1M | · | · | $10M | $9M | |
| Receivables | $215M | $205M | $181M | $167M | $124M | $109M | $101M | $100M | $92M | $100M | $97M | $87M | |
| Prepaid Expense | $40M | $22M | $21M | $19M | $17M | $15M | $14M | $11M | $9M | $10M | $9M | $7M | |
| Other Current Assets | $6M | $4M | $5M | $4M | $643.0K | $4M | $5M | $3M | $1M | $937.0K | $2M | $1M | |
| Current Assets | $583M | $503M | $479M | $415M | $408M | $334M | $232M | $215M | $228M | $207M | $237M | $230M | |
| PP&E (Net) | $23M | $14M | $12M | $13M | $14M | $18M | $23M | $14M | $15M | $17M | $21M | $17M | |
| PP&E (Gross) | $78M | $73M | $69M | $68M | $67M | $69M | $67M | $64M | $63M | $59M | $75M | $68M | |
| Accum. Depreciation | $55M | $59M | $57M | $55M | $53M | $51M | $44M | $49M | $47M | $42M | $54M | $51M | |
| Goodwill | $62M | $62M | $62M | $62M | $62M | $62M | $62M | $62M | $62M | $62M | $62M | $62M | |
| Other Non-current Assets | $44M | $36M | $32M | $25M | $20M | $14M | $13M | $10M | $7M | $8M | $7M | · | |
| Total Assets | $839M | $758M | $673M | $570M | $540M | $465M | $372M | $307M | $315M | $297M | $332M | $318M | |
| Accounts Payable | $22M | $27M | $25M | $26M | $20M | $18M | $21M | $18M | $14M | $12M | $11M | $12M | |
| Current Liabilities | $456M | $400M | $366M | $316M | $249M | $197M | $182M | $145M | $124M | $118M | $127M | $123M | |
| Capital Leases | $56M | $48M | $18M | $14M | $23M | $28M | $32M | · | · | · | · | · | |
| Deferred Tax | · | · | · | · | · | · | $37.0K | $53.0K | $69.0K | $53.0K | $35.0K | $4M | |
| Other Non-current Liabilities | $13M | $10M | $11M | $14M | $17M | $22M | $16M | $15M | $14M | $7M | $6M | $4M | |
| Common Stock | $598.0K | $609.0K | $615.0K | $621.0K | $631.0K | $635.0K | $635.0K | $649.0K | $678.0K | $702.0K | $728.0K | $741.0K | |
| Retained Earnings | $345M | $329M | $305M | $254M | $270M | $237M | $159M | $163M | $186M | $185M | $207M | $191M | |
| AOCI | $-31M | $-31M | $-27M | $-28M | $-20M | $-18M | $-18M | $-17M | $-12M | $-16M | $-12M | $-10M | |
| Stockholders' Equity | $315M | $299M | $278M | $227M | $251M | $219M | $142M | $147M | $175M | $169M | $195M | $182M | |
| Liabilities + Equity | $839M | $758M | $673M | $570M | $540M | $465M | $372M | $307M | $315M | $297M | $332M | $318M | |
| Shares Outstanding | 59,845,291 | 60,921,191 | 61,566,037 | 62,191,570 | 63,154,494 | 63,527,186 | 63,456,986 | 64,860,419 | 67,776,138 | 70,233,955 | 72,766,383 | 74,104,064 |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $6M | $6M | $6M | $7M | $8M | $9M | $8M | $9M | $9M | $9M | $8M | $6M | |
| Stock-based Comp | $111M | $93M | $72M | $59M | $43M | $33M | $32M | $20M | $16M | $16M | $15M | $10M | |
| Deferred Tax | $18M | $-29M | $-29M | $-30M | $-2M | $1M | $-1M | $-4M | $2M | $2M | $2M | $-2M | |
| Amort. of Intangibles | · | · | · | · | · | · | · | $1M | $1M | $2M | · | · | |
| Restructuring | $3M | · | · | · | · | · | · | · | $3M | · | · | · | |
| Other Non-cash | · | · | · | · | · | · | · | · | · | · | · | $-2M | |
| Operating Cash Flow | $389M | $295M | $246M | $180M | $185M | $141M | $147M | $137M | $164M | $139M | $120M | $94M | |
| CapEx | $15M | $9M | $5M | $7M | $4M | $3M | $15M | $7M | $6M | $7M | $11M | $9M | |
| Investing Cash Flow | $-15M | $-9M | $-5M | $-7M | $-4M | $-3M | $-14M | $-10M | $-6M | $3M | · | · | |
| Stock Repurchased | $315M | $286M | $196M | $204M | $120M | $44M | $121M | $149M | $132M | $168M | $112M | $99M | |
| Net Stock Activity | $-315M | $-286M | $-196M | $-204M | $-120M | $-44M | $-121M | · | $-132M | $-168M | $-112M | $-99M | |
| Financing Cash Flow | $-315M | $-286M | $-196M | $-204M | $-120M | $-44M | $-121M | $-149M | $-132M | $-163M | · | · | |
| Net Change in Cash | $63M | $-5M | $45M | $-38M | $59M | $94M | $12M | $-26M | $30M | $-23M | $3M | $-9M | |
| Taxes Paid | $47M | $83M | $67M | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $374M | $286M | $241M | $173M | $181M | $138M | $132M | · | $158M | $133M | $109M | $85M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 25.9% | 25.1% | 22.6% | 19.9% | 20.2% | 19.4% | 18.8% | · | 31.2% | 32.1% | 123.0% | 94.5% | |
| Net Margin | 20.3% | 20.9% | 19.0% | 16.8% | 16.7% | 14.9% | 13.9% | · | 19.6% | 20.5% | 78.8% | 60.9% | |
| Pretax Margin | 26.4% | 25.6% | 23.0% | 20.6% | 20.2% | 19.4% | 18.8% | · | 31.1% | 32.4% | 124.0% | 95.1% | |
| EBITDA Margin | 25.9% | 25.1% | 22.6% | 19.9% | 20.2% | 19.4% | 18.8% | · | 31.2% | 32.1% | 123.0% | 99.2% | |
| ROA | 27.6% | 30.5% | 28.4% | 23.2% | 22.0% | 20.8% | 25.2% | · | 38.1% | 39.5% | 31.5% | 26.6% | |
| ROE | 74.1% | 75.7% | 72.3% | 60.7% | 45.2% | 42.9% | 58.4% | · | 67.7% | 68.1% | 54.8% | 45.1% | |
| ROIC | 68.4% | 71.6% | 62.3% | 54.9% | 44.2% | 40.0% | 60.2% | · | 66.9% | 72.7% | 52.5% | 44.7% |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.3 | 1.3 | 1.3 | 1.3 | 1.6 | 1.7 | 1.3 | · | 1.8 | 1.8 | 1.9 | 1.9 | |
| Quick Ratio | 1.2 | 1.2 | 1.2 | 1.2 | 1.6 | 1.6 | 1.2 | · | 1.8 | 1.7 | 1.8 | 1.7 |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 1.4 | 1.5 | 1.5 | 1.4 | 1.3 | 1.4 | 1.8 | · | 1.9 | 1.9 | 0.4 | 0.4 | |
| Receivables Turnover | 5.1 | 5.4 | 5.3 | 5.3 | 5.7 | 5.6 | 6.1 | · | 6.2 | 6.1 | 1.4 | 1.7 |
Growth Rates 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 3.8% | 12.2% | 21.1% | 15.6% | 13.2% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 12.1% | 16.2% | 16.6% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 13.0% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 2.6% | 24.5% | 38.9% | 18.0% | 26.5% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 21.0% | 26.8% | 27.5% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 21.5% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 0.73% | 23.7% | 36.9% | 16.7% | 26.6% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 19.5% | 25.5% | 26.5% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 20.3% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.08B | $1.04B | $929M | $767M | $664M | $586M | $618M | $559M | $595M | $605M | $556M | $492M | |
| Net Income TTM | $220M | $218M | $177M | $129M | $110M | $87M | $86M | $105M | $116M | $124M | $103M | $82M | |
| Market Cap | $10.37B | $16.46B | $13.26B | $7.55B | $9.82B | $6.68B | $5.06B | · | $3.36B | $3.72B | $4.81B | $3.02B | |
| P/E | 48.1 | 77.0 | 76.4 | 59.8 | 90.4 | 77.3 | 60.4 | 26.8 | 29.5 | 30.8 | 47.3 | 37.7 | |
| P/S | 9.6 | 15.8 | 14.3 | 9.8 | 14.8 | 11.4 | 8.2 | · | 5.6 | 6.2 | 8.7 | 6.1 | |
| P/B | 33.0 | 55.0 | 47.6 | 33.3 | 39.2 | 30.5 | 35.6 | · | 19.2 | 22.0 | 24.6 | 16.6 | |
| P / Tangible Book | 41.1 | 69.5 | 61.4 | 45.9 | 52.1 | 42.7 | · | · | · | · | · | · | |
| P / Cash Flow | 26.6 | 55.8 | 53.8 | 42.0 | 53.0 | 47.4 | 34.4 | · | 20.5 | 26.7 | 40.1 | 32.0 | |
| P / FCF | 27.7 | 57.5 | 54.9 | 43.6 | 54.2 | 48.4 | 38.4 | · | 21.3 | 28.1 | 44.3 | 35.6 | |
| Earnings Yield | 2.1% | 1.3% | 1.3% | 1.7% | 1.1% | 1.3% | 1.7% | 3.7% | 3.4% | 3.2% | 2.1% | 2.6% |
Income Statement 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $298M | $282M | $270M | $276M | $272M | $263M | $256M | $267M | $265M | $255M | $238M | $238M | $231M | $221M | $198M | $198M | |
| Cost of Revenue | $129M | $127M | $122M | $120M | $116M | $115M | $113M | $119M | $120M | $119M | $107M | $111M | $109M | $104M | $90M | $96M | |
| R&D Expense | $35M | $37M | $39M | $36M | $35M | $35M | $33M | $34M | $35M | $35M | $31M | $33M | $32M | $31M | $27M | $29M | |
| SG&A Expense | $27M | $24M | $19M | $24M | $26M | $24M | $27M | $20M | $21M | $21M | $20M | $21M | $20M | $20M | $18M | $18M | |
| Operating Expenses | $232M | $217M | $203M | $200M | $199M | $200M | $195M | $192M | $197M | $197M | $179M | $185M | $181M | $174M | $153M | $161M | |
| Operating Income | $66M | $65M | $67M | $76M | $74M | $63M | $61M | $75M | $68M | $58M | $59M | $53M | $50M | $47M | $45M | $37M | |
| Other Non-op | $983.0K | $4M | $-3M | $3M | $715.0K | $1M | $-4M | $1M | $914.0K | $996.0K | $-4M | $2M | $1M | $143.0K | $232.0K | $2M | |
| Pretax Income | $67M | $69M | $68M | $78M | $75M | $65M | $63M | $76M | $69M | $59M | $60M | $55M | $52M | $47M | $46M | $38M | |
| Income Tax | $17M | $20M | $16M | $20M | $18M | $12M | $15M | $13M | $16M | $5M | $11M | $6M | $12M | $8M | $8M | $9M | |
| Net Income | $50M | $49M | $52M | $59M | $57M | $53M | $48M | $64M | $53M | $54M | $49M | $49M | $40M | $39M | $38M | $30M | |
| EPS (Basic) | $0.86 | $0.83 | $0.87 | $0.97 | $0.94 | $0.86 | $0.79 | $1.04 | $0.86 | $0.87 | $0.80 | $0.80 | $0.64 | $0.62 | $0.61 | $0.47 | |
| EPS (Diluted) | $0.85 | $0.82 | $0.86 | $0.96 | $0.93 | $0.85 | $0.77 | $1.03 | $0.85 | $0.86 | $0.78 | $0.79 | $0.63 | $0.62 | $0.59 | $0.47 | |
| Shares (Basic) | 58,760,000 | 59,688,000 | -121,390,000 | 60,381,000 | 60,612,000 | 60,870,000 | -122,912,000 | 61,169,000 | 61,421,000 | 61,625,000 | -123,895,000 | 61,639,000 | 61,862,000 | 62,211,000 | -125,991,000 | 62,592,000 | |
| Shares (Diluted) | 58,997,000 | 60,038,000 | -122,501,000 | 60,954,000 | 61,074,000 | 61,527,000 | -124,376,000 | 61,948,000 | 62,118,000 | 62,493,000 | -124,901,000 | 62,310,000 | 62,432,000 | 62,767,000 | -127,047,000 | 63,165,000 | |
| EBITDA | $66M | $65M | · | $76M | $74M | $63M | · | $75M | $68M | $58M | · | $53M | $50M | $47M | · | $37M |
Balance Sheet 21
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $186M | $226M | $329M | $264M | $231M | $206M | $266M | $215M | $203M | $208M | · | $182M | $153M | $182M | · | $197M | |
| Receivables | $219M | $227M | $215M | $220M | $210M | $211M | $205M | $200M | $191M | $206M | · | $183M | $178M | $161M | · | $144M | |
| Prepaid Expense | $62M | $63M | $27M | $43M | $43M | $39M | $22M | $38M | $32M | $32M | · | $27M | $28M | $29M | · | $26M | |
| Other Current Assets | · | · | $6M | · | · | · | $4M | · | · | · | · | · | · | · | · | · | |
| Current Assets | $467M | $516M | $583M | $526M | $483M | $455M | $503M | $452M | $426M | $445M | · | $393M | $360M | $372M | · | $367M | |
| PP&E (Net) | $25M | $25M | $23M | $20M | $16M | $14M | $14M | $13M | $13M | $13M | · | $11M | $12M | $12M | · | $12M | |
| PP&E (Gross) | · | · | $78M | · | · | · | $73M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $55M | · | · | · | $59M | · | · | · | · | · | · | · | · | · | |
| Goodwill | $62M | $62M | $62M | $62M | $62M | $62M | $62M | $62M | $62M | $62M | · | $62M | $62M | $62M | · | $62M | |
| Other Non-current Assets | $48M | $46M | $44M | $39M | $36M | $36M | $36M | $34M | $34M | $33M | · | $31M | $29M | $28M | · | $24M | |
| Total Assets | $699M | $741M | $839M | $769M | $745M | $708M | $758M | $698M | $665M | $675M | · | $573M | $527M | $531M | · | $515M | |
| Accounts Payable | $31M | $22M | $22M | $21M | $24M | $24M | $27M | $23M | $26M | $26M | · | $25M | $26M | $25M | · | $27M | |
| Current Liabilities | $475M | $467M | $456M | $400M | $407M | $405M | $400M | $362M | $363M | $372M | · | $333M | $331M | $323M | · | $284M | |
| Capital Leases | $54M | $56M | $56M | $48M | $49M | $47M | $48M | $50M | $51M | $52M | · | $16M | $12M | $13M | · | $17M | |
| Other Non-current Liabilities | $12M | $12M | $13M | $11M | $10M | $11M | $10M | $8M | $11M | $11M | · | $14M | $13M | $14M | · | $15M | |
| Common Stock | $583.0K | $591.0K | $598.0K | $602.0K | $604.0K | $607.0K | $609.0K | $610.0K | $612.0K | $615.0K | · | $616.0K | $617.0K | $620.0K | · | $624.0K | |
| Retained Earnings | $194M | $241M | $345M | $339M | $304M | $274M | $329M | $303M | $268M | $267M | · | $238M | $197M | $207M | · | $226M | |
| AOCI | $-37M | $-36M | $-31M | $-30M | $-26M | $-30M | $-31M | $-26M | $-28M | $-28M | · | $-29M | $-27M | $-27M | · | $-29M | |
| Stockholders' Equity | $158M | $205M | $315M | $309M | $279M | $245M | $299M | $278M | $241M | $240M | $278M | $210M | $171M | $181M | $227M | $198M | |
| Liabilities + Equity | $699M | $741M | $839M | $769M | $745M | $708M | $758M | $698M | $665M | $675M | · | $573M | $527M | $531M | · | $515M | |
| Shares Outstanding | 58,300,070 | 59,164,492 | 59,845,291 | 60,256,442 | 60,468,401 | 60,714,813 | 60,921,191 | 61,072,619 | 61,245,638 | 61,569,549 | · | 61,562,480 | 61,668,512 | 62,026,840 | · | 62,394,460 |
Cash Flow 11
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $1M | $2M | $1M | $1M | $1M | $2M | $2M | |
| Stock-based Comp | $29M | $27M | $31M | $28M | $24M | $29M | $23M | $24M | $25M | $22M | $18M | $19M | $18M | $17M | $15M | $15M | |
| Restructuring | $8M | · | $0 | $0 | $8.0K | $3M | · | $0 | $0 | · | · | · | · | · | · | · | |
| Operating Cash Flow | $91M | $84M | $147M | $93M | $74M | $75M | $105M | $62M | $73M | $55M | $88M | $59M | $41M | $59M | $55M | $40M | |
| CapEx | $1M | $4M | $5M | $6M | $4M | $891.0K | $3M | $1M | $2M | $2M | $2M | $1M | $1M | $666.0K | $2M | $2M | |
| Investing Cash Flow | $-1M | $-4M | $-5M | $-6M | $-4M | $-891.0K | $-3M | $-1M | $-2M | $-2M | $-2M | $-1M | $-1M | $-666.0K | $-2M | $-2M | |
| Stock Repurchased | $127M | $179M | $77M | $52M | $50M | $136M | $45M | $52M | $76M | $114M | $331.0K | $27M | $67M | $102M | $25M | $51M | |
| Net Stock Activity | · | $-179M | · | · | · | $-136M | · | · | · | $-114M | · | · | · | $-102M | · | · | |
| Financing Cash Flow | $-127M | $-179M | $-77M | $-52M | $-50M | $-136M | $-45M | $-52M | $-76M | $-114M | $-331.0K | $-27M | $-67M | $-102M | $-25M | $-51M | |
| Net Change in Cash | $-40M | $-103M | $65M | $33M | $25M | $-60M | $51M | $12M | $-5M | $-63M | $88M | $29M | $-28M | $-44M | $28M | $-17M | |
| Free Cash Flow | · | $80M | · | · | · | $74M | · | · | · | $52M | · | · | · | $58M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 22.2% | 23.0% | · | 27.5% | 27.1% | 24.0% | · | 28.2% | 25.7% | 22.6% | · | 22.4% | 21.9% | 21.3% | · | 18.6% | |
| Net Margin | 16.9% | 17.5% | · | 21.3% | 20.8% | 20.0% | · | 23.9% | 19.9% | 21.1% | · | 20.7% | 17.2% | 17.5% | · | 15.0% | |
| Pretax Margin | 22.6% | 24.6% | · | 28.4% | 27.4% | 24.6% | · | 28.6% | 26.0% | 23.0% | · | 23.1% | 22.3% | 21.4% | · | 19.4% | |
| EBITDA Margin | 22.2% | 23.0% | · | 27.5% | 27.1% | 24.0% | · | 28.2% | 25.7% | 22.6% | · | 22.4% | 21.9% | 21.3% | · | 18.6% | |
| ROA | 7.0% | 6.8% | · | 8.0% | 8.1% | 7.6% | · | 10.0% | 8.8% | 8.9% | · | 9.1% | 7.6% | 7.4% | · | 5.8% | |
| ROE | 23.1% | 21.9% | · | 20.0% | 21.9% | 21.7% | · | 26.1% | 25.7% | 25.6% | · | 24.2% | 20.9% | 19.5% | · | 13.6% | |
| ROIC | 31.5% | 22.5% | · | 18.3% | 20.2% | 21.0% | · | 22.6% | 21.6% | 22.1% | · | 22.8% | 22.8% | 21.4% | · | 14.3% |
Liquidity & Solvency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.0 | 1.1 | · | 1.3 | 1.2 | 1.1 | · | 1.2 | 1.2 | 1.2 | · | 1.2 | 1.1 | 1.2 | · | 1.3 | |
| Quick Ratio | 0.9 | 1.0 | · | 1.2 | 1.1 | 1.0 | · | 1.1 | 1.1 | 1.1 | · | 1.1 | 1.0 | 1.1 | · | 1.2 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | |
| Receivables Turnover | 1.4 | 1.3 | · | 1.3 | 1.4 | 1.3 | · | 1.4 | 1.4 | 1.4 | · | 1.5 | 1.5 | 1.5 | · | 1.5 |
Valuation (TTM) 10
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.13B | $1.09B | · | $1.08B | $1.07B | $1.05B | · | $1.02B | $989M | $945M | · | $889M | $842M | $790M | · | $738M | |
| Net Income TTM | $215M | $217M | · | $232M | $226M | $223M | · | $220M | $196M | $182M | · | $158M | $139M | $130M | · | $128M | |
| Market Cap | $8.12B | $7.88B | · | $12.35B | $11.94B | $10.51B | · | $17.18B | $15.11B | $15.41B | · | $12.17B | $12.33B | $9.60B | · | $8.30B | |
| P/E | 39.1 | 37.4 | · | 54.4 | 54.0 | 48.2 | · | 79.7 | 78.8 | 86.3 | · | 78.7 | 90.4 | 75.2 | · | 66.2 | |
| P/S | 7.2 | 7.2 | · | 11.5 | 11.2 | 10.0 | · | 16.8 | 15.3 | 16.3 | · | 13.7 | 14.6 | 12.2 | · | 11.2 | |
| P/B | 51.5 | 38.4 | · | 39.9 | 42.8 | 42.9 | · | 61.8 | 62.8 | 64.3 | · | 57.9 | 72.3 | 53.0 | · | 41.9 | |
| P / Tangible Book | 85.2 | 55.1 | · | 50.0 | 55.1 | 57.5 | · | 79.7 | 84.7 | 86.9 | · | 82.3 | 113.8 | 80.8 | · | 61.1 | |
| P / Cash Flow | · | 93.7 | · | · | · | 139.6 | · | · | · | 281.5 | · | · | · | 163.6 | · | · | |
| P / FCF | · | 98.5 | · | · | · | 141.3 | · | · | · | 293.9 | · | · | · | 165.5 | · | · | |
| Earnings Yield | 2.6% | 2.7% | · | 1.8% | 1.8% | 2.1% | · | 1.2% | 1.3% | 1.2% | · | 1.3% | 1.1% | 1.3% | · | 1.5% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $1.08B | $1.04B | $929M | $767M | $664M |
| Operating Margin % | 25.9% | 25.1% | 22.6% | 19.9% | 20.2% |
| Net Income | $220M | $218M | $177M | $129M | $110M |
| Diluted EPS | $3.60 | $3.51 | $2.82 | $2.03 | $1.72 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 1.3 | 1.3 | 1.3 | 1.3 | 1.6 |
| Quick Ratio | 1.2 | 1.2 | 1.2 | 1.2 | 1.6 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $374M | $286M | $241M | $173M | $181M |
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Institutional owners (13F) 560 filers · $5.5B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 68 (-16 vs prior Q) | 78 (-25 vs prior Q) | 169 (-17 vs prior Q) | 196 (+15 vs prior Q) | +352K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD PORTFOLIO MANAGEMENT LLC | $537,212,157 | 3,857,897 | 9.84% | Shares |
| FMR LLC | $489,880,247 | 3,517,991 | 8.98% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $372,302,421 | 2,673,626 | 6.82% | Shares |
| ALLIANCEBERNSTEIN L.P. | $305,903,636 | 2,297,954 | 5.61% | Shares |
| STATE STREET CORP | $265,344,635 | 1,905,527 | 4.86% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $232,615,020 | 1,652,414 | 4.26% | Shares |
| Swedbank AB | $208,875,000 | 1,500,000 | 3.83% | Shares |
| TD Asset Management Inc | $135,763,737 | 974,964 | 2.49% | Shares |
| NEUBERGER BERMAN GROUP LLC | $134,879,097 | 968,611 | 2.47% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $134,053,886 | 962,685 | 2.46% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $110,321,648 | 792,256 | 2.02% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $102,258,238 | 734,350 | 1.87% | Shares |
| Epoch Investment Partners, Inc. | $102,023,601 | 732,665 | 1.87% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $98,583,012 | 707,957 | 1.81% | Shares |
| NORGES BANK | $94,104,175 | 675,793 | 1.72% | Shares |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | $94,048,893 | 675,396 | 1.72% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $89,780,045 | 644,740 | 1.65% | Shares |
| Stephens Investment Management Group LLC | $84,444,681 | 606,425 | 1.55% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $67,418,000 | 484,151 | 1.24% | Shares |
| RGM Capital, LLC | $66,630,069 | 384,456 | 1.22% | Shares |
| VANGUARD GROUP INC | $65,180,158 | 376,090 | 1.19% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $63,875,089 | 458,708 | 1.17% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $62,489,830 | 448,760 | 1.15% | Shares |
| Amundi | $53,502,774 | 384,221 | 0.98% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $53,149,776 | 381,686 | 0.97% | Shares |
| AMERICAN CAPITAL MANAGEMENT INC | $50,783,918 | 364,696 | 0.93% | Shares |
| ROYCE & ASSOCIATES LP | $43,766,832 | 314,304 | 0.80% | Shares |
| BANK OF AMERICA CORP /DE/ | $40,954,678 | 294,109 | 0.75% | Shares |
| Caisse de depot et placement du Quebec | $38,650,648 | 277,563 | 0.71% | Shares |
| VIRGINIA RETIREMENT SYSTEMS ET Al | $32,505,157 | 187,555 | 0.60% | Shares |
| TWO SIGMA INVESTMENTS, LP | $29,674,454 | 213,102 | 0.54% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $28,376,226 | 203,779 | 0.52% | Shares |
| M&G PLC | $27,300,573 | 196,407 | 0.50% | Shares |
| DF DENT & CO INC | $26,267,268 | 188,634 | 0.48% | Shares |
| BlackRock, Inc. | $25,567,832 | 183,611 | 0.47% | Shares |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC | $24,979,501 | 179,386 | 0.46% | Shares |
| Balyasny Asset Management L.P. | $24,805,160 | 178,134 | 0.45% | Shares |
| RHUMBLINE ADVISERS | $24,374,400 | 175,041 | 0.45% | Shares |
| Fundsmith LLP | $24,087,047 | 172,977 | 0.44% | Shares |
| Gotham Asset Management, LLC | $23,421,850 | 168,200 | 0.43% | Shares |
| GOLDMAN SACHS GROUP INC | $23,183,872 | 166,491 | 0.42% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $23,152,540 | 166,266 | 0.42% | Shares |
| ROYAL BANK OF CANADA | $22,763,000 | 163,469 | 0.42% | Shares |
| Point72 Asset Management, L.P. | $22,579,945 | 162,154 | 0.41% | Shares |
| Thematics Asset Management | $22,391,605 | 109,238 | 0.41% | Shares |
| MIROVA | $22,367,310 | 160,627 | 0.41% | Shares |
| Local Pensions Partnership Investment Ltd | $19,296,512 | 138,500 | 0.35% | Shares |
| Engineers Gate Manager LP | $18,498,806 | 132,846 | 0.34% | Shares |
| Assenagon Asset Management S.A. | $17,598,137 | 126,378 | 0.32% | Shares |
| FIL Ltd | $16,570,750 | 119,000 | 0.30% | Shares |
| Swiss National Bank | $16,559,610 | 118,920 | 0.30% | Shares |
| BROWN CAPITAL MANAGEMENT LLC | $16,169,432 | 116,118 | 0.30% | Shares |
| Voleon Capital Management LP | $15,576,923 | 111,863 | 0.29% | Shares |
| California Public Employees Retirement System | $15,013,657 | 107,818 | 0.28% | Shares |
| Sone Capital Management, LLC | $14,870,786 | 106,792 | 0.27% | Shares |
| Quantinno Capital Management LP | $14,626,542 | 105,038 | 0.27% | Shares |
| RAYMOND JAMES FINANCIAL INC | $14,608,021 | 104,905 | 0.27% | Shares |
| Cinctive Capital Management LP | $14,078,593 | 101,103 | 0.26% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $11,851,413 | 85,109 | 0.22% | Shares |
| D. E. Shaw & Co., Inc. | $11,604,677 | 83,337 | 0.21% | Shares |
| NORDEA INVESTMENT MANAGEMENT AB | $10,420,434 | 75,796 | 0.19% | Shares |
| AMERIPRISE FINANCIAL INC | $10,018,203 | 71,944 | 0.18% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $9,636,100 | 69,200 | 0.18% | Shares |
| Montanaro Asset Management Ltd | $9,436,276 | 67,765 | 0.17% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $9,413,300 | 67,600 | 0.17% | Call option |
| STATE OF WISCONSIN INVESTMENT BOARD | $9,396,451 | 67,479 | 0.17% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $9,340,498 | 70,166 | 0.17% | Shares |
| MILLENNIUM MANAGEMENT LLC | $9,242,301 | 66,372 | 0.17% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $9,201,083 | 66,076 | 0.17% | Shares |
| Mariner, LLC | $9,197,671 | 66,056 | 0.17% | Shares |
| VAN ECK ASSOCIATES CORP | $9,101,519 | 65,361 | 0.17% | Shares |
| TWO SIGMA ADVISERS, LP | $8,786,817 | 50,700 | 0.16% | Shares |
| BARCLAYS PLC | $8,702,431 | 62,495 | 0.16% | Shares |
| Retirement Systems of Alabama | $8,521,264 | 61,194 | 0.16% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $8,505,251 | 61,079 | 0.16% | Shares |
| CWM, LLC | $7,863,532 | 59,071 | 0.14% | Shares |
| Trexquant Investment LP | $7,462,965 | 53,594 | 0.14% | Shares |
| AMERICAN CENTURY COMPANIES INC | $7,384,010 | 53,027 | 0.14% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $7,270,521 | 52,212 | 0.13% | Shares |
| West Coast Financial LLC | $7,084,950 | 40,944 | 0.13% | Shares |
| Man Group plc | $6,973,779 | 50,081 | 0.13% | Shares |
| KLP KAPITALFORVALTNING AS | $6,697,925 | 48,100 | 0.12% | Shares |
| Schonfeld Strategic Advisors LLC | $6,650,300 | 47,758 | 0.12% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $6,583,183 | 47,276 | 0.12% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $6,484,354 | 46,566 | 0.12% | Shares |
| IEQ CAPITAL, LLC | $5,953,627 | 42,755 | 0.11% | Shares |
| Jain Global LLC | $5,865,628 | 42,123 | 0.11% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $5,596,040 | 40,187 | 0.10% | Shares |
| BLI - Banque de Luxembourg Investments | $5,508,162 | 39,800 | 0.10% | Shares |
| Cubist Systematic Strategies, LLC | $5,343,214 | 26,067 | 0.10% | Shares |
| Convergence Investment Partners, LLC | $5,293,728 | 38,016 | 0.10% | Shares |
| ABN AMRO INVESTMENT SOLUTIONS | $5,151,693 | 36,996 | 0.09% | Shares |
| Legal & General Group Plc | $5,029,432 | 36,118 | 0.09% | Shares |
| Ensign Peak Advisors, Inc | $4,891,435 | 35,127 | 0.09% | Shares |
| MARSHALL WACE, LLP | $4,867,902 | 34,958 | 0.09% | Shares |
| Night Squared LP | $4,819,025 | 34,607 | 0.09% | Shares |
| Cubist Systematic Strategies, LLC | $4,714,540 | 23,000 | 0.09% | Put option |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $4,554,538 | 32,980 | 0.08% | Shares |
| S.A.C. Capital Advisors (Hong Kong) Ltd. | $4,498,696 | 21,947 | 0.08% | Shares |
| PINEBRIDGE INVESTMENTS LLC | $4,490,952 | 32,251 | 0.08% | Shares |
Company insiders 31 insiders · 9 officers · 8 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Steven R Norton | SVP/Chief Financial Officer | Jan. 4, 2006 A | — | 0 | 0 | $0 |
| Edward K Quibell | SVP, Chief Financial Officer | Jan. 5, 2005 A | 6,395 | 0 | 0 | $0 |
| James Stewart Gantt | EVP, Professional Services | July 30, 2026 S | 55,676 | 0 | 4 | $-2,524,365 |
| Steven P Smith | Sr. VP, Int'l Operations | Jan. 28, 2015 A | 50,763 | 0 | 0 | $0 |
| David K Dabbiere | Sr. V.P. & Chief Legal Officer | July 29, 2011 M | 19,386 | 0 | 0 | $0 |
| Pervinder Johar | SVP & Chief Technology Officer | May 1, 2008 S | 6,750 | 0 | 0 | $0 |
| Jeffry W Baum | SVP-International Operations | Dec. 7, 2006 M | 0 | 0 | 0 | $0 |
| Richard M Haddrill | Vice Chairman | April 3, 2006 A | 7,083 | 0 | 0 | $0 |
| Ramesh Srinivasan | Executive Vice President | Nov. 17, 2004 M | 50 | 0 | 0 | $0 |
| Charles E Moran | Director | June 15, 2026 G | 1,940 | 0 | 0 | $0 |
| John H Heyman | Director | May 17, 2018 A | 10,257 | 0 | 0 | $0 |
| Brian J Cassidy | Director | June 7, 2016 S | 53,438 | 0 | 0 | $0 |
| Dan J Lautenbach | Director | May 14, 2015 A | 75,342 | 0 | 0 | $0 |
| Peter F Sinisgalli | Director | May 1, 2015 S | 23,236 | 0 | 0 | $0 |
| Peter J Kight | Director | May 19, 2011 A | 18,263 | 0 | 0 | $0 |
| Paul R Goodwin | Director | April 26, 2011 S | 5,362 | 0 | 0 | $0 |
| Eric Andrew Clark | — | Aug. 11, 2026 S | 89,638 | 0 | 3 | $-1,022,290 |
| Linda T. Hollembaek | — | Aug. 6, 2026 S | 12,268 | 0 | 1 | $-299,821 |
| Edmond Eger | — | May 14, 2026 A | 8,453 | 0 | 0 | $0 |
| Kimberly A Kuryea | — | May 14, 2026 A | 8,027 | 0 | 0 | $0 |
| Danielle Sheer | — | May 14, 2026 A | 3,270 | 0 | 0 | $0 |
| Eddie Capel | — | May 14, 2026 A | 156,329 | 0 | 0 | $0 |
| Thomas E Noonan | — | May 14, 2026 A | 103,800 | 0 | 0 | $0 |
| Linda C. Pinne | — | April 1, 2026 A | 47,920 | 0 | 0 | $0 |
| Robert G Howell | — | Feb. 28, 2026 F | 177,706 | 0 | 0 | $0 |
| Bruce Richards | — | Feb. 28, 2026 F | 30,389 | 0 | 0 | $0 |
| Dennis B Story | — | Feb. 28, 2026 F | 118,588 | 0 | 0 | $0 |
| John J Huntz JR | — | May 23, 2024 A | 54,250 | 0 | 0 | $0 |
| Deepak Raghavan | — | May 23, 2024 A | 20,505 | 0 | 0 | $0 |
| Jeffrey S Mitchell | — | Feb. 28, 2013 F | 35,046 | 0 | 0 | $0 |
| John Eric Peters | — | March 1, 2004 A | 1,743 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 106 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| MCOW · Pacer Funds Trust | 2.81% | 201 NS | April 30, 2026 | N-PORT |
| ABOT · Abacus FCF ETF Trust | 1.13% | 361 NS | April 30, 2026 | N-PORT |
| NBSM · Neuberger Berman ETF Trust | 1.12% | 16,801 NS | May 31, 2026 | N-PORT |
| CLSE · Trust for Professional Managers | 0.79% | 32,236 NS | May 31, 2026 | N-PORT |
| FBOT · Fidelity Covington Trust | 0.56% | 7,949 NS | May 31, 2026 | N-PORT |
| MMSC · First Trust Exchange-Traded Fund VI… | 0.55% | 1,910 NS | May 31, 2026 | N-PORT |
| PRAY · FIS Trust | 0.47% | 2,556 NS | May 31, 2026 | N-PORT |
| COWG · Pacer Funds Trust | 0.47% | 74,388 NS | April 30, 2026 | N-PORT |
| TMFX · RBB Fund, Inc. | 0.44% | 938 NS | May 31, 2026 | N-PORT |
| SMDX · Tidal Trust III | 0.36% | 3,317 NS | April 30, 2026 | N-PORT |
| IQSM · New York Life Investments ETF Trust | 0.33% | 7,468 NS | April 30, 2026 | N-PORT |
| CVAR · ETF Opportunities Trust | 0.25% | 709 NS | April 30, 2026 | N-PORT |
| HQGO · Lattice Strategies Trust | 0.25% | 881 NS | April 30, 2026 | N-PORT |
| VUSE · ETF Series Solutions | 0.24% | 11,170 NS | May 31, 2026 | N-PORT |
| PTMC · Pacer Funds Trust | 0.24% | 6,872 NS | April 30, 2026 | N-PORT |
| BKMC · BNY Mellon ETF Trust | 0.23% | 10,227 NS | April 30, 2026 | N-PORT |
| AVMV · AMERICAN CENTURY ETF TRUST | 0.21% | 8,853 NS | May 31, 2026 | N-PORT |
| JSTC · Tidal Trust I | 0.21% | 4,662 NS | May 31, 2026 | N-PORT |
| JQUA · J.P. Morgan Exchange-Traded Fund Tr… | 0.20% | 105,586 NS | April 30, 2026 | N-PORT |
| MVV · ProShares Trust | 0.19% | 2,067 NS | May 31, 2026 | N-PORT |
| SXQG · EXCHANGE TRADED CONCEPTS TRUST | 0.17% | 786 NS | May 31, 2026 | N-PORT |
| FSMD · FIDELITY COVINGTON TRUST | 0.17% | 29,179 NS | April 30, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.17% | 24,530 NS | April 30, 2026 | N-PORT |
| SCHM · SCHWAB STRATEGIC TRUST | 0.17% | 161,748 NS | May 31, 2026 | N-PORT |
| MIDU · Direxion Shares ETF Trust | 0.16% | 991 NS | April 30, 2026 | N-PORT |
| UMDD · ProShares Trust | 0.14% | 289 NS | May 31, 2026 | N-PORT |
| TMFE · RBB Fund, Inc. | 0.13% | 730 NS | May 31, 2026 | N-PORT |
| ROUS · Lattice Strategies Trust | 0.12% | 5,048 NS | April 30, 2026 | N-PORT |
| AVMC · AMERICAN CENTURY ETF TRUST | 0.10% | 2,814 NS | May 31, 2026 | N-PORT |
| AVUQ · AMERICAN CENTURY ETF TRUST | 0.08% | 1,447 NS | May 31, 2026 | N-PORT |
| FTEC · FIDELITY COVINGTON TRUST | 0.08% | 104,817 NS | April 30, 2026 | N-PORT |
| FNDA · SCHWAB STRATEGIC TRUST | 0.08% | 46,890 NS | May 31, 2026 | N-PORT |
| ACVF · ETF Opportunities Trust | 0.07% | 696 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.05% | 2,412 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.04% | 42,265 NS | April 30, 2026 | N-PORT |
| GGUS · Goldman Sachs ETF Trust | 0.03% | 1,060 NS | May 31, 2026 | N-PORT |
| LRND · New York Life Investments ETF Trust | 0.03% | 691 NS | April 30, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.03% | 876 NS | April 30, 2026 | N-PORT |
| SCHV · SCHWAB STRATEGIC TRUST | 0.03% | 30,316 NS | May 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.03% | 91,922 NS | April 30, 2026 | N-PORT |
| JPME · J.P. Morgan Exchange-Traded Fund Tr… | 0.02% | 778 NS | April 30, 2026 | N-PORT |
| AVLC · AMERICAN CENTURY ETF TRUST | 0.02% | 2,040 NS | May 31, 2026 | N-PORT |
| AVSU · AMERICAN CENTURY ETF TRUST | 0.02% | 726 NS | May 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.02% | 3,435 NS | April 30, 2026 | N-PORT |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.02% | 18,591 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.02% | 4,392 NS | April 30, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.02% | 14,049 NS | May 31, 2026 | N-PORT |
| DEUS · DBX ETF Trust | 0.02% | 337 NS | May 29, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.02% | 2,618 NS | April 30, 2026 | N-PORT |
| RECS · Columbia ETF Trust I | 0.02% | 6,646 NS | April 30, 2026 | N-PORT |