Canada Pension Plan Investment Board Invests $20.55 Million in The Descartes Systems Group Inc. $DSGX

Canada Pension Plan Investment Board purchased a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 297,003 shares of the technology company’s stock, valued at approximately $20,550,000. Canada Pension Plan Investment Board owned about 0.35% of The Descartes Systems Group as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of DSGX. Quarry LP purchased a new stake in The Descartes Systems Group during the 3rd quarter valued at about $27,000. Trust Co. of Vermont purchased a new position in shares of The Descartes Systems Group in the second quarter worth about $33,000. Danske Bank A S purchased a new position in shares of The Descartes Systems Group in the third quarter worth about $34,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of The Descartes Systems Group during the second quarter worth about $38,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of The Descartes Systems Group by 57.5% during the first quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company’s stock worth $39,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

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

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock opened at $81.83 on Friday. The company’s fifty day moving average price is $74.02 and its 200 day moving average price is $71.77. The Descartes Systems Group Inc. has a 1 year low of $62.56 and a 1 year high of $109.00. The stock has a market capitalization of $7.01 billion, a P/E ratio of 40.91 and a beta of 0.62.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The firm had revenue of $166.96 million for the quarter, compared to analyst estimates of $193.57 million. During the same period last year, the company posted $0.41 EPS. The Descartes Systems Group’s quarterly revenue was up 14.7% compared to the same quarter last year. Sell-side analysts predict that The Descartes Systems Group Inc. will post 2.34 EPS for the current year.

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.