Quantbot Technologies LP Purchases Shares of 24,327 The Descartes Systems Group Inc. $DSGX

Quantbot Technologies LP acquired a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the 2nd quarter, Holdings Channel reports. The fund acquired 24,327 shares of the technology company’s stock, valued at approximately $1,684,000.

Several other hedge funds have also recently added to or reduced their stakes in DSGX. AXA S.A. boosted its holdings in The Descartes Systems Group by 2.0% in the 2nd 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 period. Reynders McVeigh Capital Management LLC lifted its position in shares of The Descartes Systems Group by 0.3% during the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 55,260 shares of the technology company’s stock worth $5,207,000 after buying an additional 140 shares during the period. Orion Porfolio Solutions LLC grew its holdings in shares of The Descartes Systems Group by 4.1% in the 2nd 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 last quarter. Federated Hermes Inc. increased its holdings in shares of The Descartes Systems Group by 19.2% during the fourth quarter. Federated Hermes Inc. now owns 1,098 shares of the technology company’s stock worth $96,000 after buying an additional 177 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in The Descartes Systems Group by 57.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company’s stock valued at $39,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DSGX. National Bank Financial set a $95.00 target price on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Monday, July 20th. Canadian Imperial Bank of Commerce upped their price target on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research report on Thursday, June 4th. Loop Capital reissued a “buy” rating and set a $96.00 price objective on shares of The Descartes Systems Group in a report on Thursday, June 4th. Raymond James Financial lowered their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Finally, Weiss Ratings raised shares of The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.54.

The Descartes Systems Group Stock Up 0.3%

Shares of DSGX stock opened at $78.47 on Tuesday. The firm has a market cap of $6.72 billion, a price-to-earnings ratio of 39.23 and a beta of 0.62. The Descartes Systems Group Inc. has a 12 month low of $62.56 and a 12 month high of $109.00. The stock has a 50-day moving average price of $73.19 and a 200 day moving average price of $71.46.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. The company had revenue of $166.96 million during the quarter, compared to analysts’ expectations of $193.57 million. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The Descartes Systems Group’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.41 EPS. Sell-side analysts predict that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current fiscal year.

The Descartes Systems Group Company 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.