22,428 Shares in The Descartes Systems Group Inc. (NASDAQ:DSGX) Purchased by Plato Investment Management Ltd

Plato Investment Management Ltd acquired a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 22,428 shares of the technology company’s stock, valued at approximately $2,308,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of DSGX. Bessemer Group Inc. grew its position in shares of The Descartes Systems Group by 7.0% during the first quarter. Bessemer Group Inc. now owns 169,541 shares of the technology company’s stock worth $15,517,000 after buying an additional 11,025 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in The Descartes Systems Group by 3.4% during the 1st quarter. Russell Investments Group Ltd. now owns 262,615 shares of the technology company’s stock valued at $24,043,000 after acquiring an additional 8,722 shares during the last quarter. Ellsworth Advisors LLC acquired a new position in The Descartes Systems Group during the 2nd quarter worth $527,000. TD Asset Management Inc increased its position in shares of The Descartes Systems Group by 6.2% in the 1st quarter. TD Asset Management Inc now owns 820,432 shares of the technology company’s stock worth $75,114,000 after purchasing an additional 47,949 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of The Descartes Systems Group by 527.7% in the 1st quarter. Acadian Asset Management LLC now owns 59,000 shares of the technology company’s stock valued at $5,398,000 after purchasing an additional 49,600 shares in the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DSGX has been the subject of a number of research reports. Canaccord Genuity Group set a $108.00 price target on The Descartes Systems Group and gave the stock a “buy” rating in a research note on Thursday, September 5th. National Bankshares set a $125.00 target price on The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price target on shares of The Descartes Systems Group in a research report on Thursday, September 5th. BMO Capital Markets raised their price objective on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a research note on Thursday, September 5th. Finally, Barclays boosted their target price on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the company an “underweight” rating in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, The Descartes Systems Group has an average rating of “Moderate Buy” and a consensus price target of $106.17.

The Descartes Systems Group Stock Up 0.7 %

Shares of NASDAQ:DSGX opened at $115.95 on Thursday. The company’s 50-day moving average price is $104.24 and its 200 day moving average price is $99.82. The company has a market cap of $9.91 billion, a PE ratio of 78.34 and a beta of 0.97. The Descartes Systems Group Inc. has a fifty-two week low of $77.50 and a fifty-two week high of $117.24.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The business had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. During the same period last year, the firm posted $0.32 EPS. The business’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, equities analysts anticipate that The Descartes Systems Group Inc. will post 1.69 EPS for the current year.

The Descartes Systems Group Company 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.