The Manufacturers Life Insurance Company Buys 3,289 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

The Manufacturers Life Insurance Company boosted its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 584,232 shares of the technology company’s stock after purchasing an additional 3,289 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.68% of The Descartes Systems Group worth $56,523,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. bought a new position in shares of The Descartes Systems Group in the fourth quarter valued at approximately $27,000. Central Pacific Bank Trust Division bought a new position in The Descartes Systems Group in the 1st quarter valued at $28,000. Accent Capital Management LLC purchased a new position in shares of The Descartes Systems Group during the 4th quarter valued at $32,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of The Descartes Systems Group by 703.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock worth $45,000 after purchasing an additional 429 shares during the period. Finally, Park Place Capital Corp raised its position in shares of The Descartes Systems Group by 48.5% in the first quarter. Park Place Capital Corp now owns 671 shares of the technology company’s stock worth $61,000 after buying an additional 219 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Analysts Set New Price Targets

DSGX has been the topic of a number of research analyst reports. BMO Capital Markets upped their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a research note on Thursday, September 5th. National Bankshares set a $125.00 price objective on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Thursday. Barclays lifted their target price on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the company an “underweight” rating in a research report on Thursday, September 5th. Canaccord Genuity Group set a $108.00 price target on shares of The Descartes Systems Group and gave the stock a “buy” rating in a report on Thursday, September 5th. Finally, National Bank Financial raised shares of The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.83.

The Descartes Systems Group Price Performance

Shares of DSGX stock opened at $102.18 on Friday. The business has a 50-day moving average of $99.17 and a 200 day moving average of $96.35. The Descartes Systems Group Inc. has a 1-year low of $69.59 and a 1-year high of $105.12. The stock has a market capitalization of $8.72 billion, a PE ratio of 72.99 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The company had revenue of $163.43 million for the quarter, compared to analysts’ expectations of $160.17 million. During the same period last year, the company posted $0.32 EPS. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. Analysts anticipate that The Descartes Systems Group Inc. will post 1.67 EPS for the current year.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.