Grandeur Peak Global Advisors LLC Purchases Shares of 59,500 The Descartes Systems Group Inc. $DSGX

Grandeur Peak Global Advisors LLC purchased a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the second quarter, HoldingsChannel reports. The institutional investor purchased 59,500 shares of the technology company’s stock, valued at approximately $4,118,000. The Descartes Systems Group comprises about 0.8% of Grandeur Peak Global Advisors LLC’s investment portfolio, making the stock its 29th largest position.

Several other hedge funds and other institutional investors also recently modified their holdings of DSGX. Vanguard Group Inc. raised its stake in The Descartes Systems Group by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company’s stock valued at $316,050,000 after purchasing an additional 69,260 shares in the last quarter. Mackenzie Financial Corp grew its stake in The Descartes Systems Group by 1.7% in the 4th quarter. Mackenzie Financial Corp now owns 3,371,562 shares of the technology company’s stock worth $296,326,000 after buying an additional 56,069 shares in the last quarter. Jupiter Topco LLC purchased a new position in The Descartes Systems Group in the 2nd quarter worth approximately $181,742,000. Janus Henderson Group PLC increased its holdings in shares of The Descartes Systems Group by 4.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,574,468 shares of the technology company’s stock worth $184,127,000 after buying an additional 100,937 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of The Descartes Systems Group in the 2nd quarter worth $141,403,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

DSGX stock opened at $80.66 on Friday. The Descartes Systems Group Inc. has a 52 week low of $62.56 and a 52 week high of $109.00. The firm’s fifty day moving average is $73.73 and its 200 day moving average is $71.70. The firm has a market cap of $6.91 billion, a P/E ratio of 40.33 and a beta of 0.62.

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

Analysts Set New Price Targets

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

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.