Canoe Financial LP Has $6.09 Million Stock Holdings in The Descartes Systems Group Inc. $DSGX

Canoe Financial LP increased its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 15.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 69,455 shares of the technology company’s stock after acquiring an additional 9,400 shares during the quarter. Canoe Financial LP’s holdings in The Descartes Systems Group were worth $6,093,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of DSGX. Ritholtz Wealth Management lifted its position in The Descartes Systems Group by 1.7% during the third quarter. Ritholtz Wealth Management now owns 6,654 shares of the technology company’s stock worth $627,000 after acquiring an additional 114 shares during the last quarter. AXA S.A. grew its position in shares of The Descartes Systems Group by 2.0% in the second quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock valued at $681,000 after purchasing an additional 130 shares during the last quarter. Versant Capital Management Inc grew its position in shares of The Descartes Systems Group by 24.8% in the third quarter. Versant Capital Management Inc now owns 660 shares of the technology company’s stock valued at $62,000 after purchasing an additional 131 shares during the last quarter. Reynders McVeigh Capital Management LLC increased its stake in shares of The Descartes Systems Group by 0.3% during the third quarter. Reynders McVeigh Capital Management LLC now owns 55,260 shares of the technology company’s stock worth $5,207,000 after purchasing an additional 140 shares during the period. Finally, Orion Porfolio Solutions LLC increased its stake in shares of The Descartes Systems Group by 4.1% during the second quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company’s stock worth $368,000 after purchasing an additional 143 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analyst Upgrades and Downgrades

DSGX has been the subject of several recent research reports. Canaccord Genuity Group reduced their price target on The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. Barclays cut their price objective on shares of The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Thursday, March 12th. TD Securities upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Friday, December 5th. Raymond James Financial raised shares of The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 target price on the stock in a report on Thursday, December 4th. Finally, Morgan Stanley dropped their price target on shares of The Descartes Systems Group from $115.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and an average price target of $108.64.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX opened at $69.62 on Friday. The stock has a market capitalization of $5.99 billion, a P/E ratio of 37.43 and a beta of 0.77. The stock’s fifty day moving average is $71.21 and its 200 day moving average is $83.93. The Descartes Systems Group Inc. has a 52 week low of $62.56 and a 52 week high of $117.35.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, March 11th. The technology company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.02. The Descartes Systems Group had a net margin of 22.47% and a return on equity of 10.70%. The business had revenue of $192.37 million during the quarter, compared to analysts’ expectations of $188.09 million. During the same quarter in the prior year, the business posted $0.43 earnings per share. The Descartes Systems Group’s revenue was up 15.1% compared to the same quarter last year. Equities research analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

The Descartes Systems Group Profile

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.