The Manufacturers Life Insurance Company Has $78.77 Million Stock Position in The Descartes Systems Group Inc. $DSGX

The Manufacturers Life Insurance Company lifted its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 140.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,100,755 shares of the technology company’s stock after buying an additional 643,071 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in The Descartes Systems Group were worth $78,772,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of DSGX. Vanguard Group Inc. raised its stake in The Descartes Systems Group by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company’s stock worth $316,050,000 after acquiring an additional 69,260 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of The Descartes Systems Group by 1.7% during the 4th quarter. Mackenzie Financial Corp now owns 3,371,562 shares of the technology company’s stock worth $296,326,000 after purchasing an additional 56,069 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in The Descartes Systems Group by 9.0% during the 4th quarter. Janus Henderson Group PLC now owns 2,473,531 shares of the technology company’s stock valued at $216,952,000 after purchasing an additional 203,614 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in The Descartes Systems Group by 74.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,743,262 shares of the technology company’s stock valued at $152,898,000 after buying an additional 743,104 shares in the last quarter. Finally, Morgan Stanley grew its stake in The Descartes Systems Group by 97.2% during the fourth quarter. Morgan Stanley now owns 1,584,393 shares of the technology company’s stock worth $138,888,000 after buying an additional 780,857 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 21st. National Bank Financial set a $95.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a report on Monday, July 20th. Canadian Imperial Bank of Commerce lifted their price objective on The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a research report on Thursday, June 4th. Loop Capital restated a “buy” rating and set a $96.00 target price on shares of The Descartes Systems Group in a report on Thursday, June 4th. Finally, Rothschild & Co Redburn raised The Descartes Systems Group from a “neutral” rating to a “buy” rating and cut their price target for the company from $100.00 to $90.00 in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.54.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX opened at $78.00 on Thursday. The stock’s fifty day moving average price is $71.91 and its two-hundred day moving average price is $72.07. The Descartes Systems Group Inc. has a 52-week low of $62.56 and a 52-week high of $109.00. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 39.00 and a beta of 0.64.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, June 3rd. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. The company had revenue of $166.96 million during the quarter, compared to analysts’ expectations of $193.57 million. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period last year, the firm earned $0.41 EPS. On average, equities analysts predict that The Descartes Systems Group Inc. will post 2.37 EPS for the current fiscal year.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.