PCJ Investment Counsel Ltd. Has $3.04 Million Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

PCJ Investment Counsel Ltd. lifted its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 40.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 29,540 shares of the technology company’s stock after purchasing an additional 8,460 shares during the quarter. PCJ Investment Counsel Ltd.’s holdings in The Descartes Systems Group were worth $3,041,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Bessemer Group Inc. increased its holdings in The Descartes Systems Group by 7.0% in the first quarter. Bessemer Group Inc. now owns 169,541 shares of the technology company’s stock valued at $15,517,000 after purchasing an additional 11,025 shares during the period. Ellsworth Advisors LLC acquired a new stake in The Descartes Systems Group in the second quarter valued at $527,000. Acadian Asset Management LLC increased its holdings in The Descartes Systems Group by 527.7% in the first 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 during the period. Public Employees Retirement Association of Colorado increased its holdings in The Descartes Systems Group by 7.8% in the first quarter. Public Employees Retirement Association of Colorado now owns 280,232 shares of the technology company’s stock valued at $25,650,000 after purchasing an additional 20,230 shares during the period. Finally, Plato Investment Management Ltd acquired a new stake in The Descartes Systems Group in the third quarter valued at $2,308,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Trading Up 0.9 %

The Descartes Systems Group stock opened at $113.61 on Wednesday. The Descartes Systems Group Inc. has a 1-year low of $79.21 and a 1-year high of $117.24. The firm has a market capitalization of $9.71 billion, a price-to-earnings ratio of 76.76 and a beta of 0.97. The firm has a 50 day simple moving average of $105.58 and a 200 day simple moving average of $100.36.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $163.43 million during the quarter, compared to the consensus estimate of $160.17 million. During the same period in the previous year, the business earned $0.32 earnings per share. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. On average, equities research analysts forecast that The Descartes Systems Group Inc. will post 1.69 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on DSGX shares. Canaccord Genuity Group set a $108.00 price objective on The Descartes Systems Group and gave the company a “buy” rating in a report on Thursday, September 5th. National Bank Financial upgraded The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. Barclays upgraded The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $88.00 to $125.00 in a report on Friday, November 15th. Scotiabank increased their price target on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 24th. Finally, National Bankshares set a $125.00 price target on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Thursday, September 26th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $109.25.

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.