Grandeur Peak Global Advisors LLC Purchases New Stake in The Descartes Systems Group Inc. $DSGX

Grandeur Peak Global Advisors LLC purchased a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the second quarter, HoldingsChannel reports. The institutional investor purchased 59,500 shares of the technology company’s stock, valued at approximately $6,537,000. The Descartes Systems Group makes up approximately 1.6% of Grandeur Peak Global Advisors LLC’s portfolio, making the stock its 12th biggest holding.

Other institutional investors also recently bought and sold shares of the company. AXA S.A. increased its position in shares of The Descartes Systems Group by 2.0% in the second quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock worth $681,000 after acquiring an additional 130 shares in the last quarter. Reynders McVeigh Capital Management LLC lifted its holdings in shares of The Descartes Systems Group by 0.3% during the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 55,260 shares of the technology company’s stock valued at $5,207,000 after acquiring an additional 140 shares in the last quarter. Orion Porfolio Solutions LLC boosted its position in The Descartes Systems Group by 4.1% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company’s stock worth $368,000 after purchasing an additional 143 shares during the period. Federated Hermes Inc. boosted its position in The Descartes Systems Group by 19.2% during the 4th quarter. Federated Hermes Inc. now owns 1,098 shares of the technology company’s stock worth $96,000 after purchasing an additional 177 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in The Descartes Systems Group by 57.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company’s stock valued at $39,000 after purchasing an additional 200 shares in the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Price Performance

The Descartes Systems Group stock opened at $81.83 on Monday. The Descartes Systems Group Inc. has a 12-month low of $62.56 and a 12-month high of $109.00. The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of 40.91 and a beta of 0.62. The firm’s fifty day moving average price is $74.02 and its 200 day moving average price is $71.80.

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

Wall Street Analyst Weigh In

Several research firms have commented on DSGX. Weiss Ratings raised The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 21st. Loop Capital reiterated a “buy” rating and issued a $96.00 target price on shares of The Descartes Systems Group in a research note on Thursday, June 4th. Raymond James Financial dropped their target price on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Canadian Imperial Bank of Commerce boosted their price target on The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research report on Thursday, June 4th. Finally, National Bank Financial set a $95.00 price target on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, The Descartes Systems Group currently has an average rating of “Moderate Buy” and a consensus price target of $102.54.

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.