Value Partners Investments Inc. Acquires New Position in The Descartes Systems Group Inc. $DSGX

Value Partners Investments Inc. purchased a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 5,890 shares of the technology company’s stock, valued at approximately $554,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DSGX. SBI Securities Co. Ltd. raised its position in The Descartes Systems Group by 77.0% in the second quarter. SBI Securities Co. Ltd. now owns 570 shares of the technology company’s stock worth $58,000 after acquiring an additional 248 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of The Descartes Systems Group by 35.1% during the 2nd quarter. Parallel Advisors LLC now owns 585 shares of the technology company’s stock worth $59,000 after purchasing an additional 152 shares during the period. GAMMA Investing LLC increased its holdings in shares of The Descartes Systems Group by 23.2% in the 2nd quarter. GAMMA Investing LLC now owns 622 shares of the technology company’s stock valued at $63,000 after purchasing an additional 117 shares in the last quarter. Employees Retirement System of Texas acquired a new stake in shares of The Descartes Systems Group in the second quarter valued at about $68,000. Finally, Federated Hermes Inc. lifted its stake in shares of The Descartes Systems Group by 25.6% in the second quarter. Federated Hermes Inc. now owns 1,246 shares of the technology company’s stock valued at $127,000 after purchasing an additional 254 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DSGX. BMO Capital Markets dropped their target price on shares of The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating for the company in a report on Thursday, December 4th. Morgan Stanley raised their price objective on The Descartes Systems Group from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 9th. CIBC decreased their target price on The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Wall Street Zen raised The Descartes Systems Group from a “sell” rating to a “hold” rating in a report on Friday, September 5th. Finally, TD Securities raised The Descartes Systems Group to a “strong-buy” rating in a research note on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $116.30.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX opened at $89.11 on Wednesday. The business’s fifty day moving average price is $88.13 and its two-hundred day moving average price is $96.52. The stock has a market cap of $7.66 billion, a PE ratio of 50.34 and a beta of 0.74. The Descartes Systems Group Inc. has a one year low of $78.88 and a one year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The company had revenue of $186.78 million during the quarter, compared to analysts’ expectations of $184.24 million. During the same period in the previous year, the firm posted $0.42 earnings per share. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, equities research analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

The Descartes Systems Group Company 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.