The Manufacturers Life Insurance Company Reduces Stake in The Descartes Systems Group Inc. (DSGX)

The Manufacturers Life Insurance Company lowered its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,517,538 shares of the technology company’s stock after selling 26,851 shares during the period. The Manufacturers Life Insurance Company owned approximately 2.00% of The Descartes Systems Group worth $36,855,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. US Bancorp DE raised its holdings in shares of The Descartes Systems Group by 89.6% during the first quarter. US Bancorp DE now owns 4,825 shares of the technology company’s stock valued at $110,000 after purchasing an additional 2,280 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of The Descartes Systems Group by 20.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,066 shares of the technology company’s stock valued at $123,000 after purchasing an additional 860 shares during the period. Legal & General Group Plc raised its holdings in shares of The Descartes Systems Group by 6.8% during the second quarter. Legal & General Group Plc now owns 7,795 shares of the technology company’s stock valued at $189,000 after purchasing an additional 495 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of The Descartes Systems Group by 34.6% during the first quarter. Envestnet Asset Management Inc. now owns 10,015 shares of the technology company’s stock valued at $229,000 after purchasing an additional 2,573 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in shares of The Descartes Systems Group by 86.2% during the first quarter. Tower Research Capital LLC TRC now owns 12,389 shares of the technology company’s stock valued at $283,000 after purchasing an additional 5,737 shares during the period. Hedge funds and other institutional investors own 78.31% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “The Manufacturers Life Insurance Company Reduces Stake in The Descartes Systems Group Inc. (DSGX)” was posted by Stock Observer and is owned by of Stock Observer. If you are viewing this report on another site, it was illegally copied and republished in violation of United States and international copyright & trademark legislation. The correct version of this report can be read at https://www.thestockobserver.com/2017/10/13/the-manufacturers-life-insurance-company-reduces-stake-in-the-descartes-systems-group-inc-dsgx.html.

Several equities analysts have recently weighed in on DSGX shares. TD Securities upped their price objective on shares of The Descartes Systems Group from $29.00 to $40.50 and gave the company a “buy” rating in a report on Thursday, September 7th. Royal Bank Of Canada upped their price objective on shares of The Descartes Systems Group from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, August 31st. Canaccord Genuity reiterated a “buy” rating and set a $30.00 price objective (up previously from $28.00) on shares of The Descartes Systems Group in a report on Thursday, September 7th. BMO Capital Markets reiterated a “hold” rating and set a $26.00 price objective on shares of The Descartes Systems Group in a report on Thursday, August 17th. Finally, BidaskClub upgraded shares of The Descartes Systems Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 5th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $32.06.

The Descartes Systems Group Inc. (DSGX) traded down 0.17% during midday trading on Friday, hitting $28.60. 11,163 shares of the company were exchanged. The Descartes Systems Group Inc. has a 1-year low of $20.20 and a 1-year high of $29.25. The stock has a 50 day moving average of $27.90 and a 200 day moving average of $25.27. The firm has a market capitalization of $2.19 billion, a PE ratio of 84.12 and a beta of 0.55.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, September 6th. The technology company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). The business had revenue of $57.29 million for the quarter, compared to the consensus estimate of $55.74 million. The Descartes Systems Group had a return on equity of 5.97% and a net margin of 12.06%. On average, equities analysts predict that The Descartes Systems Group Inc. will post $0.40 earnings per share for the current fiscal year.

About The Descartes Systems Group

Descartes Systems Group Inc (Descartes) is a Canada-based global provider of federated network and global logistics technology solutions that help its customers make and receive shipments and manage related resources. Its network-based solutions, which primarily consist of services and software, connect people to their trading partners and enable business document exchange (bookings, bills of lading, status messages); regulatory compliance and customs filing; route and resource planning, execution and monitoring; access and leverage global trade and restricted party data; inventory and asset visibility; rate and transportation management, and warehouse operations.

Institutional Ownership by Quarter for The Descartes Systems Group (NASDAQ:DSGX)

Receive News & Ratings for The Descartes Systems Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Descartes Systems Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply