Picton Mahoney Asset Management Has $41.87 Million Stock Holdings in The Descartes Systems Group Inc. $DSGX

Picton Mahoney Asset Management decreased its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 7.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 444,774 shares of the technology company’s stock after selling 33,370 shares during the quarter. Picton Mahoney Asset Management’s holdings in The Descartes Systems Group were worth $41,871,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Mather Group LLC. purchased a new position in shares of The Descartes Systems Group during the 3rd quarter valued at $28,000. SBI Securities Co. Ltd. boosted its position in The Descartes Systems Group by 77.0% during the second quarter. SBI Securities Co. Ltd. now owns 570 shares of the technology company’s stock valued at $58,000 after purchasing an additional 248 shares during the last quarter. Versant Capital Management Inc grew its stake in 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 in the last quarter. Employees Retirement System of Texas purchased a new position in The Descartes Systems Group in the second quarter valued at about $68,000. Finally, GAMMA Investing LLC increased its position in The Descartes Systems Group by 42.1% in the 3rd quarter. GAMMA Investing LLC now owns 884 shares of the technology company’s stock worth $83,000 after purchasing an additional 262 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Stock Up 3.5%

NASDAQ:DSGX opened at $69.69 on Wednesday. The company’s 50 day moving average is $77.03 and its 200-day moving average is $87.59. The Descartes Systems Group Inc. has a 12 month low of $62.56 and a 12 month high of $117.35. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 39.37 and a beta of 0.77.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The business had revenue of $186.78 million for the quarter, compared to analyst estimates of $184.24 million. The Descartes Systems Group had a net margin of 22.10% and a return on equity of 10.57%. The Descartes Systems Group’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the business posted $0.42 EPS. Research analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DSGX has been the subject of several research reports. TD Securities upgraded The Descartes Systems Group to a “strong-buy” rating in a report on Friday, December 5th. Royal Bank Of Canada set a $126.00 target price on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research note on Monday, December 1st. BMO Capital Markets decreased their target price on shares of The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating for the company in a research report on Thursday, December 4th. Zacks Research upgraded shares of The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Finally, Barclays upgraded shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $106.00 to $105.00 in a report on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, The Descartes Systems Group presently has a consensus rating of “Buy” and an average target price of $114.20.

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.