Teacher Retirement System of Texas Takes Position in The Descartes Systems Group Inc. $DSGX

Teacher Retirement System of Texas acquired a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 90,504 shares of the technology company’s stock, valued at approximately $8,528,000. Teacher Retirement System of Texas owned approximately 0.11% of The Descartes Systems Group as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Mather Group LLC. bought a new stake in The Descartes Systems Group during the 3rd quarter valued at $28,000. SBI Securities Co. Ltd. increased its stake in shares of 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 buying an additional 248 shares during the period. Versant Capital Management Inc increased its stake in shares of The Descartes Systems Group by 24.8% during the third quarter. Versant Capital Management Inc now owns 660 shares of the technology company’s stock valued at $62,000 after buying an additional 131 shares during the period. GAMMA Investing LLC raised its holdings in shares of The Descartes Systems Group by 23.2% in the second quarter. GAMMA Investing LLC now owns 622 shares of the technology company’s stock valued at $63,000 after acquiring an additional 117 shares in the last quarter. Finally, Employees Retirement System of Texas purchased a new stake in The Descartes Systems Group in the second quarter worth about $68,000. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Down 0.2%

Shares of DSGX opened at $81.72 on Monday. The company has a 50 day moving average of $86.47 and a two-hundred day moving average of $94.20. The Descartes Systems Group Inc. has a twelve month low of $78.88 and a twelve month high of $124.31. The company has a market cap of $7.03 billion, a price-to-earnings ratio of 46.17 and a beta of 0.74.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The business had revenue of $186.78 million for the quarter, compared to the consensus estimate of $184.24 million. During the same period in the prior year, the firm posted $0.42 earnings per share. The business’s quarterly revenue was up 11.2% on a year-over-year basis. On average, sell-side analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DSGX. TD Securities raised shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Friday, December 5th. Scotiabank cut their price objective on shares of The Descartes Systems Group from $127.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, December 4th. CIBC reduced their price objective on shares of The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Raymond James Financial raised The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 target price on the stock in a research report on Thursday, December 4th. Finally, Royal Bank Of Canada set a $126.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a report on Monday, December 1st. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $116.20.

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.