The Manufacturers Life Insurance Company Purchases 598 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

The Manufacturers Life Insurance Company grew its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 0.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 584,830 shares of the technology company’s stock after buying an additional 598 shares during the quarter. The Manufacturers Life Insurance Company owned 0.68% of The Descartes Systems Group worth $60,221,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of DSGX. Avior Wealth Management LLC increased its holdings in shares of The Descartes Systems Group by 2.8% in the 3rd quarter. Avior Wealth Management LLC now owns 4,273 shares of the technology company’s stock valued at $440,000 after acquiring an additional 117 shares during the period. Legacy Wealth Asset Management LLC raised its stake in shares of The Descartes Systems Group by 3.8% in the third quarter. Legacy Wealth Asset Management LLC now owns 3,771 shares of the technology company’s stock worth $388,000 after purchasing an additional 137 shares during the last quarter. Assenagon Asset Management S.A. raised its position in The Descartes Systems Group by 4.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,832 shares of the technology company’s stock worth $371,000 after buying an additional 158 shares during the last quarter. Assetmark Inc. raised its holdings in shares of The Descartes Systems Group by 3.5% during the third quarter. Assetmark Inc. now owns 5,839 shares of the technology company’s stock worth $601,000 after purchasing an additional 197 shares during the last quarter. Finally, Park Place Capital Corp lifted its holdings in shares of The Descartes Systems Group by 31.6% in the 2nd quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock valued at $86,000 after buying an additional 212 shares during the period. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Barclays upgraded shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $88.00 to $125.00 in a research note on Friday, November 15th. Scotiabank upped their target price on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 24th. Canaccord Genuity Group set a $108.00 price target on The Descartes Systems Group and gave the company a “buy” rating in a report on Thursday, September 5th. BMO Capital Markets lifted their target price on shares of 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. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $115.00 target price on shares of The Descartes Systems Group in a research report on Thursday, September 5th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, The Descartes Systems Group currently has an average rating of “Moderate Buy” and an average target price of $109.25.

The Descartes Systems Group Price Performance

DSGX stock opened at $116.27 on Thursday. The business’s 50-day moving average is $107.32 and its two-hundred day moving average is $101.01. The firm has a market capitalization of $9.94 billion, a P/E ratio of 78.56 and a beta of 0.97. The Descartes Systems Group Inc. has a 1 year low of $79.21 and a 1 year high of $117.95.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $163.43 million during the quarter, compared to analyst estimates of $160.17 million. During the same period last year, the business earned $0.32 EPS. The firm’s revenue was up 14.0% compared to the same quarter last year. On average, analysts expect that The Descartes Systems Group Inc. will post 1.69 EPS for the current year.

The Descartes Systems Group 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.