Canada Pension Plan Investment Board purchased a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 105,522 shares of the technology company’s stock, valued at approximately $2,564,000. Canada Pension Plan Investment Board owned approximately 0.14% of The Descartes Systems Group at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in DSGX. Shell Asset Management Co. boosted its position in shares of The Descartes Systems Group by 0.4% in the first quarter. Shell Asset Management Co. now owns 7,912 shares of the technology company’s stock valued at $241,000 after buying an additional 32 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of The Descartes Systems Group by 3.9% in the first quarter. Parametric Portfolio Associates LLC now owns 17,589 shares of the technology company’s stock valued at $403,000 after buying an additional 654 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of The Descartes Systems Group by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 67,210 shares of the technology company’s stock valued at $1,539,000 after buying an additional 955 shares in the last quarter. US Bancorp DE boosted its position in shares of The Descartes Systems Group by 23.8% in the second quarter. US Bancorp DE now owns 5,975 shares of the technology company’s stock valued at $145,000 after buying an additional 1,150 shares in the last quarter. Finally, BB&T Corp boosted its position in shares of The Descartes Systems Group by 19.5% in the second quarter. BB&T Corp now owns 13,230 shares of the technology company’s stock valued at $322,000 after buying an additional 2,155 shares in the last quarter. Institutional investors own 77.35% of the company’s stock.
Shares of The Descartes Systems Group Inc. (NASDAQ DSGX) opened at 27.25 on Friday. The stock has a 50 day moving average price of $25.75 and a 200-day moving average price of $23.90. The Descartes Systems Group Inc. has a 52 week low of $20.20 and a 52 week high of $27.65. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 85.16 and a beta of 0.58.
The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, May 31st. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.01. The company had revenue of $54.51 million during the quarter, compared to the consensus estimate of $54.09 million. The Descartes Systems Group had a net margin of 11.80% and a return on equity of 5.78%. On average, analysts anticipate that The Descartes Systems Group Inc. will post $0.42 EPS for the current year.
Several research analysts recently weighed in on the company. Canaccord Genuity reiterated a “buy” rating and set a $28.00 price target on shares of The Descartes Systems Group in a research report on Thursday, August 17th. BMO Capital Markets reiterated a “hold” rating and set a $26.00 price target on shares of The Descartes Systems Group in a research report on Thursday, August 17th. Scotiabank lifted their price target on The Descartes Systems Group from $24.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, June 1st. Zacks Investment Research cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Finally, ValuEngine upgraded The Descartes Systems Group from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $30.56.
The Descartes Systems Group Company Profile
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. The Company’s 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.
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.
