What happened

Manhattan Associates (NASDAQ:MANH) stock outpaced the market last month, gaining 12% compared to a 3% spike in the S&P 500, according to data provided by S&P Global Market Intelligence.

The rally added to previous gains for shareholders of the software specialist, with the stock up 22% in the past year compared to a 4% boost in the wider market.

A customer service representative works in front of a screen.

Image source: Getty Images.

So what

Last month's rally came in response to fourth-quarter results that put the company in position to set another revenue record in 2019. Management revealed in early February that overall sales inched higher as customers continued to migrate toward its popular cloud subscription services. The figures surpassed the targets that CEO Eddie Capel and his team had set for the quarter and the year.

Now what

In a conference call with investors last month, Capel said executives are "prudently cautious" about their outlook, but they took the opportunity to raise their 2019 guidance on sales, operating margin, and earnings.

Customer reception for its new products, including its latest order-management platform, will play a key role in determining whether the company reaches those goals. The early demand indications for that suite are positive, but investors will be eager to see whether Manhattan Associates can use this opportunity to gain more market share in the year ahead.