9,880 Shares in The Descartes Systems Group Inc. $DSGX Acquired by Cynosure Group LLC

Cynosure Group LLC bought a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 9,880 shares of the technology company’s stock, valued at approximately $1,004,000.

Several other large investors have also recently made changes to their positions in DSGX. Franklin Resources Inc. lifted its holdings in shares of The Descartes Systems Group by 7.0% in the 2nd quarter. Franklin Resources Inc. now owns 1,837,266 shares of the technology company’s stock worth $186,749,000 after acquiring an additional 120,137 shares during the last quarter. Legal & General Group Plc lifted its stake in The Descartes Systems Group by 7.9% in the second quarter. Legal & General Group Plc now owns 273,069 shares of the technology company’s stock worth $27,685,000 after purchasing an additional 20,030 shares during the last quarter. Swiss National Bank lifted its stake in The Descartes Systems Group by 6.9% in the second quarter. Swiss National Bank now owns 260,124 shares of the technology company’s stock worth $26,323,000 after purchasing an additional 16,700 shares during the last quarter. TD Waterhouse Canada Inc. boosted its position in The Descartes Systems Group by 14.6% during the second quarter. TD Waterhouse Canada Inc. now owns 10,707 shares of the technology company’s stock valued at $1,091,000 after buying an additional 1,362 shares during the period. Finally, Empowered Funds LLC grew its stake in shares of The Descartes Systems Group by 73.4% during the second quarter. Empowered Funds LLC now owns 41,599 shares of the technology company’s stock valued at $4,228,000 after buying an additional 17,603 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Trading Up 2.0%

Shares of The Descartes Systems Group stock opened at $81.49 on Friday. The Descartes Systems Group Inc. has a 12-month low of $78.88 and a 12-month high of $124.31. The company has a market cap of $7.01 billion, a P/E ratio of 48.22 and a beta of 0.75. The company’s fifty day simple moving average is $92.37 and its two-hundred day simple moving average is $100.39.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, September 3rd. The technology company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). The company had revenue of $178.98 million during the quarter, compared to analysts’ expectations of $176.51 million. The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 earnings per share. Analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of The Descartes Systems Group in a report on Wednesday. Wall Street Zen raised The Descartes Systems Group from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. Morgan Stanley cut their target price on shares of The Descartes Systems Group from $110.00 to $100.00 and set an “equal weight” rating on the stock in a report on Thursday. CIBC lowered their price target on shares of The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Finally, Zacks Research raised shares of The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.70.

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.