The Manufacturers Life Insurance Company Makes New Investment in The Descartes Systems Group Inc. $DSGX

The Manufacturers Life Insurance Company acquired a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the second quarter, according to its most recent filing with the SEC. The firm acquired 2,045,632 shares of the technology company’s stock, valued at approximately $141,403,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in DSGX. Sone Capital Management LLC bought a new stake in shares of The Descartes Systems Group during the second quarter worth $20,220,000. Van Hulzen Asset Management LLC bought a new position in The Descartes Systems Group in the second quarter valued at about $669,000. Manning & Napier Advisors LLC boosted its holdings in The Descartes Systems Group by 59.2% in the second quarter. Manning & Napier Advisors LLC now owns 95,390 shares of the technology company’s stock valued at $6,605,000 after acquiring an additional 35,461 shares during the last quarter. Cibc World Market Inc. acquired a new stake in The Descartes Systems Group in the second quarter worth about $4,297,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in The Descartes Systems Group in the second quarter worth about $4,113,000. 77.73% of the stock is owned by institutional investors and hedge funds.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock opened at $78.47 on Tuesday. The company has a market capitalization of $6.72 billion, a P/E ratio of 39.23 and a beta of 0.62. The business has a 50-day moving average of $73.19 and a two-hundred day moving average of $71.46. The Descartes Systems Group Inc. has a 1 year low of $62.56 and a 1 year high of $109.00.

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

Analysts Set New Price Targets

Several brokerages have weighed in on DSGX. Raymond James Financial dropped their price objective on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. National Bank Financial set a $95.00 price target on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Monday, July 20th. Canadian Imperial Bank of Commerce boosted their price target on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research note on Thursday, June 4th. Loop Capital reaffirmed a “buy” rating and issued a $96.00 price objective on shares of The Descartes Systems Group in a research note on Thursday, June 4th. Finally, Weiss Ratings raised shares of The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.54.

The Descartes Systems Group 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.