Manning & Napier Advisors LLC Buys 35,461 Shares of The Descartes Systems Group Inc. $DSGX

Manning & Napier Advisors LLC grew its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 59.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,390 shares of the technology company’s stock after acquiring an additional 35,461 shares during the period. Manning & Napier Advisors LLC’s holdings in The Descartes Systems Group were worth $6,605,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of The Descartes Systems Group in the fourth quarter valued at approximately $100,405,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in The Descartes Systems Group during the 2nd quarter worth approximately $58,755,000. Morgan Stanley boosted its stake in The Descartes Systems Group by 97.2% in the 4th quarter. Morgan Stanley now owns 1,584,393 shares of the technology company’s stock valued at $138,888,000 after purchasing an additional 780,857 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in The Descartes Systems Group by 74.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,743,262 shares of the technology company’s stock valued at $152,898,000 after purchasing an additional 743,104 shares during the period. Finally, BlackRock Inc. acquired a new position in The Descartes Systems Group in the 2nd quarter valued at $48,684,000. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Trading Up 0.3%

NASDAQ DSGX opened at $78.47 on Tuesday. The firm’s 50 day simple moving average is $73.19 and its 200 day simple moving average is $71.46. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of 39.23 and a beta of 0.62. The Descartes Systems Group Inc. has a 1 year low of $62.56 and a 1 year high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data 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 net margin of 23.35% and a return on equity of 11.17%. The business had revenue of $166.96 million during the quarter, compared to the consensus estimate of $193.57 million. During the same period in the previous year, the business earned $0.41 earnings per share. The company’s revenue was up 14.7% on a year-over-year basis. On average, equities research analysts forecast that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Loop Capital reiterated a “buy” rating and set a $96.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, June 4th. Raymond James Financial decreased their price target on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. Canadian Imperial Bank of Commerce lifted their price objective on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research note on Thursday, June 4th. National Bank Financial set a $95.00 price objective on shares of The Descartes Systems Group and gave the company an “outperform” rating in a report on Monday, July 20th. Finally, Weiss Ratings upgraded shares of The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $102.54.

The Descartes Systems Group 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.