CenterBook Partners LP Makes New Investment in The Descartes Systems Group Inc. $DSGX

CenterBook Partners LP acquired a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,486 shares of the technology company’s stock, valued at approximately $988,000.

A number of other institutional investors have also made changes to their positions in the stock. Goldman Sachs Group Inc. grew its position in shares of The Descartes Systems Group by 35.1% in the first quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company’s stock valued at $38,027,000 after purchasing an additional 98,054 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in The Descartes Systems Group by 1.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 54,618 shares of the technology company’s stock valued at $5,507,000 after buying an additional 660 shares during the last quarter. Stephens Inc. AR increased its position in The Descartes Systems Group by 7.1% in the 2nd quarter. Stephens Inc. AR now owns 9,275 shares of the technology company’s stock worth $943,000 after buying an additional 616 shares during the period. MQS Management LLC bought a new position in The Descartes Systems Group in the 2nd quarter worth approximately $225,000. Finally, Bessemer Group Inc. lifted its holdings in shares of The Descartes Systems Group by 4.0% during the second quarter. Bessemer Group Inc. now owns 245,286 shares of the technology company’s stock worth $24,930,000 after buying an additional 9,407 shares during the last quarter. 77.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DSGX shares. Morgan Stanley raised shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating in a research report on Thursday, January 15th. Barclays upgraded shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $106.00 to $105.00 in a report on Monday, January 12th. Scotiabank reduced their target price on shares of The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating for the company in a research note on Wednesday, February 4th. Zacks Research upgraded The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of The Descartes Systems Group in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, The Descartes Systems Group currently has a consensus rating of “Buy” and an average price target of $114.20.

The Descartes Systems Group Stock Performance

Shares of The Descartes Systems Group stock opened at $67.08 on Friday. The firm has a market cap of $5.77 billion, a P/E ratio of 37.90 and a beta of 0.75. The firm’s 50-day simple moving average is $80.31 and its 200-day simple moving average is $89.48. The Descartes Systems Group Inc. has a twelve month low of $62.56 and a twelve month high of $117.35.

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

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.