Granite Investment Partners LLC increased its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 13.5% during the second quarter, Holdings Channel reports. The fund owned 512,275 shares of the technology company’s stock after buying an additional 60,891 shares during the period. Granite Investment Partners LLC’s holdings in The Descartes Systems Group were worth $12,474,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DSGX. Parametric Portfolio Associates LLC raised its position in The Descartes Systems Group by 3.9% in the first quarter. Parametric Portfolio Associates LLC now owns 17,589 shares of the technology company’s stock worth $403,000 after buying an additional 654 shares during the last quarter. TFS Capital LLC acquired a new position in shares of The Descartes Systems Group during the first quarter worth $355,000. Ameriprise Financial Inc. raised its position in shares of The Descartes Systems Group by 91.2% in the first quarter. Ameriprise Financial Inc. now owns 179,775 shares of the technology company’s stock worth $4,117,000 after buying an additional 85,750 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of The Descartes Systems Group by 126.6% in the first quarter. UBS Asset Management Americas Inc. now owns 37,611 shares of the technology company’s stock worth $859,000 after buying an additional 21,011 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of The Descartes Systems Group by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 67,210 shares of the technology company’s stock worth $1,539,000 after buying an additional 955 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Shares of The Descartes Systems Group Inc. (DSGX) opened at 26.425 on Thursday. The firm has a 50-day moving average price of $24.92 and a 200 day moving average price of $23.49. The Descartes Systems Group Inc. has a 12-month low of $20.16 and a 12-month high of $26.50. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 82.578 and a beta of 0.58.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, May 31st. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by $0.01. The Descartes Systems Group had a net margin of 11.80% and a return on equity of 5.78%. The firm had revenue of $54.51 million for the quarter, compared to analyst estimates of $54.09 million. On average, equities research analysts anticipate that The Descartes Systems Group Inc. will post $0.42 earnings per share for the current fiscal year.

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A number of research analysts recently weighed in on the company. BidaskClub raised The Descartes Systems Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 5th. Zacks Investment Research lowered The Descartes Systems Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Scotiabank upped their price objective on The Descartes Systems Group from $24.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, June 1st. Raymond James Financial, Inc. upped their price objective on The Descartes Systems Group from $24.50 to $37.00 and gave the stock an “outperform” rating in a report on Thursday, June 1st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $27.00 price objective (up previously from $25.00) on shares of The Descartes Systems Group in a report on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $32.44.

About The Descartes Systems Group

Descartes Systems Group Inc (Descartes) is a Canada-based global provider of federated network and global logistics technology solutions that help its customers make and receive shipments and manage related resources. The Company’s network-based solutions, which primarily consist of services and software, connect people to their trading partners and enable business document exchange (bookings, bills of lading, status messages); regulatory compliance and customs filing; route and resource planning, execution and monitoring; access and leverage global trade and restricted party data; inventory and asset visibility; rate and transportation management, and warehouse operations.

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Institutional Ownership by Quarter for The Descartes Systems Group (NASDAQ:DSGX)

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