Atria Investments Inc Has $1.90 Million Stock Position in The Descartes Systems Group Inc. $DSGX

Atria Investments Inc raised its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 106.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,145 shares of the technology company’s stock after acquiring an additional 10,372 shares during the quarter. Atria Investments Inc’s holdings in The Descartes Systems Group were worth $1,898,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas bought a new position in shares of The Descartes Systems Group in the third quarter worth $8,528,000. Y Intercept Hong Kong Ltd bought a new position in The Descartes Systems Group in the 3rd quarter valued at about $2,460,000. Grandeur Peak Global Advisors LLC raised its position in shares of The Descartes Systems Group by 41.2% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 371,075 shares of the technology company’s stock valued at $37,720,000 after buying an additional 108,250 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of The Descartes Systems Group by 15.3% during the 3rd quarter. CIBC Asset Management Inc now owns 963,361 shares of the technology company’s stock worth $91,369,000 after acquiring an additional 127,762 shares during the period. Finally, Thrivent Financial for Lutherans acquired a new stake in shares of The Descartes Systems Group during the 3rd quarter worth approximately $10,031,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Trading Down 0.8%

Shares of DSGX opened at $65.22 on Wednesday. The stock’s 50-day moving average price is $81.85 and its two-hundred day moving average price is $90.09. The Descartes Systems Group Inc. has a 12 month low of $62.56 and a 12 month high of $117.35. The company has a market capitalization of $5.61 billion, a PE ratio of 36.85 and a beta of 0.75.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data 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 company had revenue of $186.78 million during the quarter, compared to the consensus estimate of $184.24 million. During the same period last year, the company earned $0.42 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. Equities research analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DSGX. Morgan Stanley upgraded The Descartes Systems Group from an “equal weight” rating to an “overweight” rating in a research note on Thursday, January 15th. Raymond James Financial upgraded 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. Weiss Ratings restated a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday, December 29th. Zacks Research raised shares of The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Finally, Canadian Imperial Bank of Commerce dropped 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. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $114.20.

The Descartes Systems Group 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.