Cidel Asset Management Inc. Raises Stake in The Descartes Systems Group Inc. $DSGX

Cidel Asset Management Inc. lifted its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 124.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 121,304 shares of the technology company’s stock after purchasing an additional 67,256 shares during the quarter. Cidel Asset Management Inc. owned about 0.14% of The Descartes Systems Group worth $8,661,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. AXA S.A. lifted its stake in shares of The Descartes Systems Group by 2.0% in the second quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock valued at $681,000 after purchasing an additional 130 shares during the period. Reynders McVeigh Capital Management LLC grew its position in The Descartes Systems Group by 0.3% during the third quarter. Reynders McVeigh Capital Management LLC now owns 55,260 shares of the technology company’s stock worth $5,207,000 after buying an additional 140 shares during the period. Orion Porfolio Solutions LLC grew its position in The Descartes Systems Group by 4.1% during the second quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company’s stock worth $368,000 after buying an additional 143 shares during the period. PCJ Investment Counsel Ltd. increased its holdings in The Descartes Systems Group by 0.3% in the third quarter. PCJ Investment Counsel Ltd. now owns 48,080 shares of the technology company’s stock valued at $4,529,000 after buying an additional 150 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in The Descartes Systems Group by 18.7% in the fourth quarter. GAMMA Investing LLC now owns 1,049 shares of the technology company’s stock valued at $92,000 after buying an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on DSGX shares. Weiss Ratings downgraded shares of The Descartes Systems Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, April 9th. Canadian Imperial Bank of Commerce upped their price target on The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a report on Thursday, June 4th. Rothschild & Co Redburn raised The Descartes Systems Group from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $100.00 to $90.00 in a research note on Thursday, April 16th. Raymond James Financial reduced their price objective on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. Finally, Canaccord Genuity Group decreased their target price on The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.17.

The Descartes Systems Group Trading Up 1.9%

NASDAQ:DSGX opened at $67.71 on Wednesday. The company has a market capitalization of $5.82 billion, a P/E ratio of 33.85 and a beta of 0.64. The firm has a 50-day moving average price of $71.94 and a two-hundred day moving average price of $75.33. The Descartes Systems Group Inc. has a twelve month low of $62.56 and a twelve month high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. The company had revenue of $166.96 million for the quarter, compared to the consensus estimate of $193.57 million. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 earnings per share. On average, equities research analysts predict that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current year.

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.