The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board grew its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGXFree Report) (TSE:DSG) by 7.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 258,000 shares of the technology company’s stock after buying an additional 17,370 shares during the quarter. Canada Pension Plan Investment Board owned 0.30% of The Descartes Systems Group worth $19,024,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State Board of Administration of Florida Retirement System grew its stake in shares of The Descartes Systems Group by 20.5% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 12,644 shares of the technology company’s stock worth $928,000 after purchasing an additional 2,152 shares during the period. Cidel Asset Management Inc. grew its stake in shares of The Descartes Systems Group by 13.6% during the 3rd quarter. Cidel Asset Management Inc. now owns 90,487 shares of the technology company’s stock worth $6,672,000 after purchasing an additional 10,836 shares during the period. Versor Investments LP acquired a new position in shares of The Descartes Systems Group during the 3rd quarter worth $253,000. Signaturefd LLC grew its stake in shares of The Descartes Systems Group by 26.7% during the 3rd quarter. Signaturefd LLC now owns 697 shares of the technology company’s stock worth $51,000 after purchasing an additional 147 shares during the period. Finally, Canoe Financial LP grew its stake in shares of The Descartes Systems Group by 2.8% during the 3rd quarter. Canoe Financial LP now owns 61,249 shares of the technology company’s stock worth $4,495,000 after purchasing an additional 1,672 shares during the period. 76.73% of the stock is owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Performance

NASDAQ DSGX opened at $89.43 on Monday. The Descartes Systems Group Inc. has a one year low of $69.59 and a one year high of $92.86. The company’s 50 day moving average price is $84.84 and its 200 day moving average price is $78.39. The firm has a market capitalization of $7.61 billion, a price-to-earnings ratio of 68.27 and a beta of 0.96.

The Descartes Systems Group (NASDAQ:DSGXGet Free Report) (TSE:DSG) last posted its quarterly earnings results on Tuesday, December 5th. The technology company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.03). The Descartes Systems Group had a net margin of 20.71% and a return on equity of 9.92%. The business had revenue of $144.70 million during the quarter, compared to analysts’ expectations of $144.17 million. During the same quarter in the previous year, the business posted $0.31 EPS. The company’s quarterly revenue was up 19.1% on a year-over-year basis. Sell-side analysts forecast that The Descartes Systems Group Inc. will post 1.3 EPS for the current fiscal year.

Analyst Ratings Changes

DSGX has been the topic of a number of research reports. Scotiabank increased their price objective on shares of The Descartes Systems Group from $86.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Wolfe Research raised shares of The Descartes Systems Group from a “peer perform” rating to an “outperform” rating and set a $95.00 price target on the stock in a research note on Wednesday, January 10th. Stephens raised their price target on shares of The Descartes Systems Group from $94.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 6th. Barclays raised their price target on shares of The Descartes Systems Group from $65.00 to $71.00 and gave the stock an “underperform” rating in a research note on Friday, December 1st. Finally, StockNews.com lowered shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $89.44.

Get Our Latest Stock Analysis on The Descartes Systems Group

The Descartes Systems Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for The Descartes Systems Group (NASDAQ:DSGX)

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