Man Group plc Invests $6.57 Million in The Descartes Systems Group Inc. $DSGX

Key Points

• Man Group plc acquired 94,896 DSGX shares worth approximately $6.57 million, giving it about a 0.11% stake. Institutional investors and hedge funds collectively own 77.73% of The Descartes Systems Group.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $102.54, despite some target-price reductions.
• Descartes exceeded quarterly earnings expectations with EPS of $0.55 versus $0.52 forecast, while revenue rose 14.7% year over year to $166.96 million. Shares opened at $81.83, with a market capitalization of about $7.01 billion.

Man Group plc acquired a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 94,896 shares of the technology company's stock, valued at approximately $6,571,000. Man Group plc owned approximately 0.11% of The Descartes Systems Group at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DSGX. 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 during the period. Mackenzie Financial Corp increased its holdings in The Descartes Systems Group by 1.7% in the fourth quarter. Mackenzie Financial Corp now owns 3,371,562 shares of the technology company's stock valued at $296,326,000 after buying an additional 56,069 shares in the last quarter. Jupiter Topco LLC acquired a new stake in shares of The Descartes Systems Group during the 2nd quarter valued at approximately $181,742,000. Janus Henderson Group PLC lifted its position in shares of The Descartes Systems Group by 4.1% during 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 during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of The Descartes Systems Group during the 2nd quarter valued at approximately $141,403,000. Institutional investors and hedge funds own 77.73% of the company's stock.

Wall Street Analysts Forecast Growth

DSGX has been the topic of several research reports. Raymond James Financial lowered their target price on The Descartes Systems Group from $118.00 to $108.00 and set an "outperform" rating on the stock in a report on Thursday, June 4th. National Bank Financial set a $95.00 price target on The Descartes Systems Group and gave the stock an "outperform" rating in a research note on Monday, July 20th. Canadian Imperial Bank of Commerce boosted their price objective on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an "outperformer" rating in a research report on Thursday, June 4th. 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. Finally, 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. One 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $102.54.

The Descartes Systems Group Trading Up 1.5%

Shares of NASDAQ:DSGX opened at $81.83 on Friday. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 40.91 and a beta of 0.62. The stock's 50-day moving average price is $74.02 and its two-hundred day moving average price is $71.77. The Descartes Systems Group Inc. has a 12-month low of $62.56 and a 12-month high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $166.96 million for the quarter, compared to the consensus estimate of $193.57 million. During the same quarter last year, the firm posted $0.41 earnings per share. The Descartes Systems Group's revenue was up 14.7% on a year-over-year basis. As a group, research analysts forecast that The Descartes Systems Group Inc. will post 2.34 earnings per share for the current fiscal year.

About The Descartes Systems Group

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.

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