Manning & Napier Advisors LLC Has $6.61 Million Position in The Descartes Systems Group Inc. $DSGX

Key Points

• Manning & Napier Advisors increased its Descartes Systems Group position by 59.2% in the second quarter, holding 95,390 shares valued at approximately $6.61 million. Institutional investors and hedge funds own 77.73% of the company.
• Descartes reported quarterly EPS of $0.55, beating estimates by $0.03, while revenue rose 14.7% year over year. Shares opened at $78.47, with a market capitalization of $6.72 billion and a price-to-earnings ratio of 39.23.
• Wall Street maintains a “Moderate Buy” consensus rating, with 11 Buy, one Strong Buy and three Hold ratings; the average analyst price target is $102.54.

Manning & Napier Advisors LLC grew its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 59.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,390 shares of the technology company's stock after buying an additional 35,461 shares during the quarter. Manning & Napier Advisors LLC owned approximately 0.11% of The Descartes Systems Group worth $6,605,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of DSGX. Cibc World Market Inc. bought a new stake in The Descartes Systems Group during the second quarter worth about $4,297,000. OMERS ADMINISTRATION Corp acquired a new position in The Descartes Systems Group during the second quarter valued at approximately $4,113,000. Sanctuary Advisors LLC bought a new position in The Descartes Systems Group in the second quarter valued at approximately $216,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in The Descartes Systems Group in the second quarter valued at approximately $58,755,000. Finally, Bank of Nova Scotia acquired a new position in shares of The Descartes Systems Group during the 2nd quarter worth approximately $28,827,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Up 0.3%

DSGX opened at $78.47 on Tuesday. The Descartes Systems Group Inc. has a 12-month low of $62.56 and a 12-month high of $109.00. The stock has a market cap of $6.72 billion, a price-to-earnings ratio of 39.23 and a beta of 0.62. The business has a 50 day moving average of $73.19 and a 200-day moving average of $71.46.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its earnings results on Wednesday, June 3rd. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. The company had revenue of $166.96 million during the quarter, compared to the consensus estimate of $193.57 million. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The firm's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. As a group, analysts expect that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DSGX. Loop Capital reiterated a "buy" rating and set a $96.00 price objective on shares of The Descartes Systems Group in a research note on Thursday, June 4th. Raymond James Financial lowered their target price on shares of 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. Weiss Ratings raised shares of The Descartes Systems Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 21st. Canadian Imperial Bank of Commerce increased their price target on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the company an "outperformer" rating in a research note on Thursday, June 4th. Finally, National Bank Financial set a $95.00 price objective on shares of The Descartes Systems Group and gave the company an "outperform" rating in a research report on Monday, July 20th. One equities 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $102.54.

The Descartes Systems Group Company 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.

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