Canada Pension Plan Investment Board Acquires New Stake in The Descartes Systems Group Inc. $DSGX

Canada Pension Plan Investment Board acquired a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the second quarter, Holdings Channel reports. The fund acquired 297,003 shares of the technology company’s stock, valued at approximately $20,550,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in shares of The Descartes Systems Group during the third quarter worth $27,000. Danske Bank A S acquired a new stake in shares of The Descartes Systems Group in the third quarter valued at about $34,000. Measured Wealth Private Client Group LLC purchased a new position in shares of The Descartes Systems Group in the third quarter worth about $40,000. Trust Co. of Vermont purchased a new position in shares of The Descartes Systems Group in the second quarter worth about $33,000. Finally, Keating Financial Advisory Services Inc. acquired a new position in The Descartes Systems Group during the second quarter worth about $38,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analyst Upgrades and Downgrades

DSGX has been the subject of several research reports. Loop Capital reaffirmed a “buy” rating and set a $96.00 price objective on shares of The Descartes Systems Group in a research note on Thursday, June 4th. Weiss Ratings raised shares of The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 21st. National Bank Financial set a $95.00 target price on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Monday, July 20th. Raymond James Financial dropped their price target on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Finally, Canadian Imperial Bank of Commerce increased their price target on The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.54.

The Descartes Systems Group Trading Up 1.5%

The Descartes Systems Group stock opened at $81.83 on Friday. The Descartes Systems Group Inc. has a 12-month low of $62.56 and a 12-month high of $109.00. The stock has a market cap of $7.01 billion, a P/E ratio of 40.91 and a beta of 0.62. The company has a 50-day moving average price of $74.02 and a 200 day moving average price of $71.77.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. The company had revenue of $166.96 million for the quarter, compared to analyst estimates of $193.57 million. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The Descartes Systems Group’s revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 EPS. As a group, analysts forecast that The Descartes Systems Group Inc. will post 2.34 EPS for the current 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.