1832 Asset Management L.P. Boosts Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

1832 Asset Management L.P. boosted its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 0.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 236,261 shares of the technology company’s stock after purchasing an additional 2,076 shares during the quarter. 1832 Asset Management L.P. owned about 0.28% of The Descartes Systems Group worth $22,880,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mount Yale Investment Advisors LLC bought a new position in shares of The Descartes Systems Group in the second quarter worth approximately $797,000. Sei Investments Co. raised its holdings in The Descartes Systems Group by 18.8% in the 2nd quarter. Sei Investments Co. now owns 222,489 shares of the technology company’s stock worth $21,546,000 after acquiring an additional 35,208 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in The Descartes Systems Group by 59.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 148,151 shares of the technology company’s stock valued at $14,351,000 after acquiring an additional 55,100 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its position in The Descartes Systems Group by 5.9% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 296,796 shares of the technology company’s stock valued at $28,742,000 after acquiring an additional 16,564 shares in the last quarter. Finally, Blair William & Co. IL boosted its stake in The Descartes Systems Group by 2.7% during the 2nd quarter. Blair William & Co. IL now owns 353,949 shares of the technology company’s stock valued at $34,276,000 after purchasing an additional 9,457 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Barclays boosted their price target on The Descartes Systems Group from $87.00 to $88.00 and gave the stock an “underweight” rating in a research note on Thursday, September 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 target price on shares of The Descartes Systems Group in a research report on Thursday, September 5th. TD Securities raised their price target on shares of The Descartes Systems Group from $110.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Canaccord Genuity Group set a $108.00 price objective on shares of The Descartes Systems Group and gave the company a “buy” rating in a report on Thursday, September 5th. Finally, Raymond James raised their target price on shares of The Descartes Systems Group from $94.00 to $96.00 and gave the stock a “market perform” rating in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $103.00.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock opened at $103.55 on Tuesday. The Descartes Systems Group Inc. has a 1-year low of $69.59 and a 1-year high of $104.71. The company’s fifty day simple moving average is $98.98 and its 200-day simple moving average is $96.10. The stock has a market capitalization of $8.84 billion, a PE ratio of 73.96 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $163.43 million for the quarter, compared to analysts’ expectations of $160.17 million. The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The Descartes Systems Group’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 earnings per share. As a group, research analysts anticipate that The Descartes Systems Group Inc. will post 1.67 EPS for the current year.

The Descartes Systems Group Profile

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its 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; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.