Quantbot Technologies LP Invests $3.47 Million in The Descartes Systems Group Inc. $DSGX

Quantbot Technologies LP purchased a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 36,844 shares of the technology company’s stock, valued at approximately $3,472,000.

Other large investors have also added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its holdings in The Descartes Systems Group by 2.1% in the second quarter. Mackenzie Financial Corp now owns 3,944,757 shares of the technology company’s stock worth $400,969,000 after acquiring an additional 80,309 shares in the last quarter. Vanguard Group Inc. raised its position in shares of The Descartes Systems Group by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,533,392 shares of the technology company’s stock worth $332,697,000 after purchasing an additional 111,492 shares during the last quarter. Fiera Capital Corp boosted its stake in The Descartes Systems Group by 10.2% in the 3rd quarter. Fiera Capital Corp now owns 2,976,093 shares of the technology company’s stock worth $280,123,000 after purchasing an additional 276,329 shares in the last quarter. Franklin Resources Inc. grew its position in The Descartes Systems Group by 7.0% during the 2nd quarter. Franklin Resources Inc. now owns 1,837,266 shares of the technology company’s stock valued at $186,749,000 after purchasing an additional 120,137 shares during the last quarter. Finally, Bank of Montreal Can grew its position in The Descartes Systems Group by 7.9% during the 2nd quarter. Bank of Montreal Can now owns 1,678,473 shares of the technology company’s stock valued at $170,613,000 after purchasing an additional 122,378 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Trading Up 1.6%

NASDAQ:DSGX opened at $67.34 on Tuesday. The company has a market cap of $5.79 billion, a PE ratio of 38.05 and a beta of 0.77. The company has a 50 day simple moving average of $77.42 and a two-hundred day simple moving average of $87.79. The Descartes Systems Group Inc. has a 12 month low of $62.56 and a 12 month high of $117.35.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The firm had revenue of $186.78 million for the quarter, compared to the consensus estimate of $184.24 million. During the same period last year, the business posted $0.42 EPS. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. Research analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DSGX. Royal Bank Of Canada set a $126.00 target price on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a report on Monday, December 1st. Zacks Research raised shares of The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. Barclays upgraded shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $106.00 to $105.00 in a report on Monday, January 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday, December 29th. Finally, BMO Capital Markets reduced their target price on The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating for the company in a report on Thursday, December 4th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $114.20.

About The Descartes Systems Group

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.