TD Asset Management Inc Acquires 160,044 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

TD Asset Management Inc grew its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 31.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 677,064 shares of the technology company’s stock after acquiring an additional 160,044 shares during the period. TD Asset Management Inc owned 0.80% of The Descartes Systems Group worth $54,293,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in DSGX. Price T Rowe Associates Inc. MD raised its position in shares of The Descartes Systems Group by 20.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,948,727 shares of the technology company’s stock valued at $762,578,000 after purchasing an additional 1,834,084 shares during the period. Bank of Montreal Can bought a new stake in shares of The Descartes Systems Group during the 2nd quarter valued at $99,717,000. Norges Bank bought a new stake in shares of The Descartes Systems Group during the 4th quarter valued at $69,541,000. Durable Capital Partners LP raised its position in shares of The Descartes Systems Group by 60.6% during the 1st quarter. Durable Capital Partners LP now owns 2,585,059 shares of the technology company’s stock valued at $189,381,000 after purchasing an additional 975,727 shares during the period. Finally, Wasatch Advisors Inc. bought a new stake in shares of The Descartes Systems Group during the 1st quarter valued at $66,482,000. 76.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. StockNews.com upgraded shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 4th. Stephens raised their target price on shares of The Descartes Systems Group from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, September 7th. Royal Bank of Canada raised their target price on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, September 7th. Finally, Scotiabank reaffirmed a “sector outperform” rating and set a $86.00 target price on shares of The Descartes Systems Group in a research note on Friday, September 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $85.00.

The Descartes Systems Group Stock Up 0.6 %

Shares of NASDAQ:DSGX opened at $79.99 on Thursday. The Descartes Systems Group Inc. has a 52 week low of $64.23 and a 52 week high of $82.02. The stock has a market capitalization of $6.80 billion, a P/E ratio of 61.06 and a beta of 1.00. The firm has a fifty day simple moving average of $73.61 and a two-hundred day simple moving average of $75.54.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, September 6th. The technology company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The firm had revenue of $143.39 million for the quarter, compared to analysts’ expectations of $139.95 million. The Descartes Systems Group had a return on equity of 10.22% and a net margin of 21.60%. The Descartes Systems Group’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 earnings per share. On average, analysts expect that The Descartes Systems Group Inc. will post 1.33 earnings per share for the current year.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc provides cloud-based logistics and supply chain solutions worldwide. The company's 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; e-commerce shipping and fulfillment; customs and regulatory compliance; trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.