The Manufacturers Life Insurance Company Invests $141.40 Million in The Descartes Systems Group Inc. $DSGX

The Manufacturers Life Insurance Company acquired a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,045,632 shares of the technology company’s stock, valued at approximately $141,403,000. The Manufacturers Life Insurance Company owned about 2.39% of The Descartes Systems Group as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position 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 buying an additional 69,260 shares in the last quarter. Mackenzie Financial Corp raised its holdings in The Descartes Systems Group by 1.7% in the 4th quarter. Mackenzie Financial Corp now owns 3,371,562 shares of the technology company’s stock valued at $296,326,000 after acquiring an additional 56,069 shares in the last quarter. Janus Henderson Group PLC raised its holdings in The Descartes Systems Group by 4.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,574,468 shares of the technology company’s stock valued at $184,127,000 after acquiring an additional 100,937 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of The Descartes Systems Group by 74.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,743,262 shares of the technology company’s stock worth $152,898,000 after acquiring an additional 743,104 shares during the period. Finally, Morgan Stanley lifted its position in shares of The Descartes Systems Group by 97.2% in the 4th quarter. Morgan Stanley now owns 1,584,393 shares of the technology company’s stock worth $138,888,000 after acquiring an additional 780,857 shares during the period. Institutional investors own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Shares of NASDAQ:DSGX opened at $78.47 on Tuesday. The business has a fifty day moving average of $73.19 and a 200-day moving average of $71.46. The Descartes Systems Group Inc. has a twelve month low of $62.56 and a twelve month high of $109.00. The firm has a market cap of $6.72 billion, a PE ratio of 39.23 and a beta of 0.62.

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

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.