The Manufacturers Life Insurance Company Cuts Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

The Manufacturers Life Insurance Company cut its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 565,671 shares of the technology company's stock after selling 19,159 shares during the period. The Manufacturers Life Insurance Company owned about 0.66% of The Descartes Systems Group worth $64,387,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of DSGX. Mather Group LLC. increased its holdings in The Descartes Systems Group by 301.7% in the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company's stock worth $27,000 after purchasing an additional 181 shares in the last quarter. GeoWealth Management LLC grew its holdings in shares of The Descartes Systems Group by 63.2% during the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock worth $39,000 after purchasing an additional 132 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of The Descartes Systems Group in the fourth quarter valued at approximately $43,000. Trust Co. of Vermont bought a new position in The Descartes Systems Group in the 4th quarter valued at approximately $54,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in The Descartes Systems Group during the 4th quarter worth approximately $57,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Price Performance

The Descartes Systems Group stock traded up $2.20 during mid-day trading on Friday, hitting $107.10. The company's stock had a trading volume of 245,098 shares, compared to its average volume of 202,690. The business has a 50 day moving average price of $102.47 and a 200-day moving average price of $110.20. The Descartes Systems Group Inc. has a 12 month low of $89.00 and a 12 month high of $124.31. The stock has a market cap of $9.17 billion, a price-to-earnings ratio of 67.36 and a beta of 0.88.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The company had revenue of $167.50 million during the quarter, compared to analysts' expectations of $169.97 million. On average, equities research analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DSGX. StockNews.com downgraded The Descartes Systems Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Barclays cut their target price on shares of The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 6th. Royal Bank of Canada reissued an "outperform" rating and issued a $130.00 price objective on shares of The Descartes Systems Group in a research note on Friday, March 28th. CIBC decreased their target price on shares of The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Finally, BMO Capital Markets lowered their target price on shares of The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating on the stock in a report on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, The Descartes Systems Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $119.50.

About The Descartes Systems Group

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.