Man Group plc Has $16.25 Million Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Man Group plc lifted its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 13.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 143,042 shares of the technology company’s stock after acquiring an additional 17,091 shares during the quarter. Man Group plc owned approximately 0.17% of The Descartes Systems Group worth $16,252,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Nicholas Investment Partners LP increased its position in shares of The Descartes Systems Group by 3.3% in the fourth quarter. Nicholas Investment Partners LP now owns 99,559 shares of the technology company’s stock valued at $11,310,000 after acquiring an additional 3,183 shares during the last quarter. Lazard Asset Management LLC bought a new position in The Descartes Systems Group during the fourth quarter worth about $1,347,000. Janus Henderson Group PLC grew its holdings in The Descartes Systems Group by 0.6% during the fourth quarter. Janus Henderson Group PLC now owns 635,722 shares of the technology company’s stock worth $72,228,000 after purchasing an additional 3,554 shares during the period. Focus Partners Wealth grew its holdings in The Descartes Systems Group by 2.7% during the fourth quarter. Focus Partners Wealth now owns 32,656 shares of the technology company’s stock worth $3,710,000 after purchasing an additional 865 shares during the period. Finally, Ensign Peak Advisors Inc grew its holdings in The Descartes Systems Group by 53.0% during the fourth quarter. Ensign Peak Advisors Inc now owns 76,473 shares of the technology company’s stock worth $8,687,000 after purchasing an additional 26,476 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Stock Up 0.7%

Shares of NASDAQ:DSGX opened at $113.50 on Friday. 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 $9.72 billion, a PE ratio of 71.38 and a beta of 0.88. The business has a 50 day moving average of $103.37 and a 200-day moving average of $110.54.

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on DSGX shares. Scotiabank lifted their price target on The Descartes Systems Group from $125.00 to $127.00 and gave the stock a “sector outperform” rating in a report on Wednesday, March 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $130.00 price target on shares of The Descartes Systems Group in a report on Friday, March 28th. StockNews.com cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. BMO Capital Markets reduced their price target on The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating for the company in a report on Thursday, March 6th. Finally, CIBC reduced their price target on The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.18.

The Descartes Systems Group 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.