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

The Manufacturers Life Insurance Company increased its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 0.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 584,830 shares of the technology company’s stock after buying an additional 598 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in The Descartes Systems Group were worth $60,221,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Intact Investment Management Inc. purchased a new position in The Descartes Systems Group during the 2nd quarter worth $61,000. Blue Trust Inc. lifted its stake in The Descartes Systems Group by 931.7% in the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after buying an additional 587 shares in the last quarter. Andra AP fonden purchased a new stake in shares of The Descartes Systems Group in the second quarter valued at $77,000. Park Place Capital Corp boosted its stake in shares of The Descartes Systems Group by 31.6% during the 2nd quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock worth $86,000 after purchasing an additional 212 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in The Descartes Systems Group by 143.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,194 shares of the technology company’s stock worth $116,000 after acquiring an additional 704 shares during the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DSGX has been the subject of a number of recent analyst reports. Scotiabank boosted their target price on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a report on Thursday, October 24th. Barclays upgraded The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $88.00 to $125.00 in a research note on Friday, November 15th. BMO Capital Markets boosted their price objective on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a report on Thursday, September 5th. Canaccord Genuity Group set a $108.00 target price on The Descartes Systems Group and gave the company a “buy” rating in a research report on Thursday, September 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price target on shares of The Descartes Systems Group in a research report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $109.25.

The Descartes Systems Group Price Performance

Shares of DSGX opened at $116.27 on Thursday. The company has a market capitalization of $9.94 billion, a PE ratio of 78.56 and a beta of 0.97. The Descartes Systems Group Inc. has a one year low of $79.21 and a one year high of $117.95. The company’s fifty day moving average price is $107.32 and its 200 day moving average price is $101.01.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data 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 business had revenue of $163.43 million for the quarter, compared to analyst estimates of $160.17 million. The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The Descartes Systems Group’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 EPS. Analysts anticipate that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current year.

The Descartes Systems Group Company 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.