The Manufacturers Life Insurance Company Buys 643,071 Shares of The Descartes Systems Group Inc. $DSGX

Key Points

• The Manufacturers Life Insurance Company increased its Descartes Systems Group stake by 140.5%, buying 643,071 shares to own 1.10 million shares worth approximately $78.8 million. Institutional investors collectively own 77.73% of the company.
• Descartes reported quarterly EPS of $0.55, exceeding the $0.52 consensus estimate, while revenue rose 14.7% year over year to $166.96 million. Analysts forecast full-year EPS of $2.37.
• Analyst sentiment remains favorable, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $102.54, compared with an opening price of $78.00.

The Manufacturers Life Insurance Company raised its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 140.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,100,755 shares of the technology company's stock after purchasing an additional 643,071 shares during the period. The Manufacturers Life Insurance Company owned 1.28% of The Descartes Systems Group worth $78,772,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of The Descartes Systems Group by 2.0% in 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 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 worth $296,326,000 after acquiring an additional 56,069 shares during the period. Janus Henderson Group PLC raised its holdings in The Descartes Systems Group by 9.0% in the 4th quarter. Janus Henderson Group PLC now owns 2,473,531 shares of the technology company's stock worth $216,952,000 after acquiring an additional 203,614 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in The Descartes Systems Group by 74.3% during 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 last quarter. Finally, Morgan Stanley lifted its position in The Descartes Systems Group by 97.2% during 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 last quarter. Institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Stock Performance

NASDAQ DSGX opened at $78.00 on Thursday. The Descartes Systems Group Inc. has a twelve month low of $62.56 and a twelve month high of $109.00. The stock has a market cap of $6.68 billion, a PE ratio of 39.00 and a beta of 0.64. The firm has a 50-day simple moving average of $71.91 and a 200 day simple moving average of $72.07.

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 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The firm had revenue of $166.96 million during the quarter, compared to analysts' expectations of $193.57 million. During the same quarter in the prior year, the firm posted $0.41 EPS. The company's revenue for the quarter was up 14.7% on a year-over-year basis. Research analysts forecast that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. National Bank Financial set a $95.00 price target on The Descartes Systems Group and gave the company an "outperform" rating in a research report on Monday, July 20th. Canadian Imperial Bank of Commerce increased their target price on 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. Weiss Ratings raised The Descartes Systems Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, July 21st. Rothschild & Co Redburn raised The Descartes Systems Group from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $100.00 to $90.00 in a research report on Thursday, April 16th. Finally, Loop Capital reissued a "buy" rating and issued a $96.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, June 4th. 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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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