BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $9.04 Million Stock Position in The Descartes Systems Group Inc. $DSGX

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 12.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,766 shares of the technology company’s stock after purchasing an additional 9,910 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in The Descartes Systems Group were worth $9,038,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in The Descartes Systems Group by 9,983.0% in the 1st quarter. GAMMA Investing LLC now owns 50,919 shares of the technology company’s stock valued at $5,134,000 after buying an additional 50,414 shares during the period. Mackenzie Financial Corp boosted its position in shares of The Descartes Systems Group by 130.4% during the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company’s stock worth $561,827,000 after acquiring an additional 2,800,492 shares in the last quarter. Bank of New York Mellon Corp increased its stake in The Descartes Systems Group by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 128,335 shares of the technology company’s stock valued at $12,940,000 after acquiring an additional 3,316 shares during the last quarter. American Century Companies Inc. raised its position in The Descartes Systems Group by 5.9% during the first quarter. American Century Companies Inc. now owns 223,925 shares of the technology company’s stock valued at $22,543,000 after purchasing an additional 12,571 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in The Descartes Systems Group by 11.8% during the fourth quarter. Northern Trust Corp now owns 80,737 shares of the technology company’s stock worth $9,172,000 after purchasing an additional 8,537 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on DSGX shares. Royal Bank Of Canada decreased their price target on The Descartes Systems Group from $130.00 to $126.00 and set an “outperform” rating on the stock in a research note on Thursday, June 5th. Wall Street Zen cut The Descartes Systems Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Morgan Stanley assumed coverage on The Descartes Systems Group in a research note on Monday, July 14th. They set an “equal weight” rating and a $110.00 target price for the company. Finally, Barclays dropped their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “equal weight” rating for the company in a report on Thursday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $122.18.

The Descartes Systems Group Trading Up 2.3%

The Descartes Systems Group stock opened at $101.37 on Monday. The company has a market capitalization of $8.71 billion, a PE ratio of 61.07 and a beta of 0.81. The Descartes Systems Group Inc. has a 12 month low of $92.00 and a 12 month high of $124.31. The stock has a 50-day moving average price of $102.32 and a two-hundred day moving average price of $105.16.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.05). The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%.The firm had revenue of $168.74 million for the quarter, compared to the consensus estimate of $169.60 million. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 earnings per share. As a group, analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

About The Descartes Systems Group

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.