Kathmere Capital Management LLC Invests $547,000 in The Descartes Systems Group Inc. $DSGX

Kathmere Capital Management LLC acquired a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 7,650 shares of the technology company’s stock, valued at approximately $547,000.

Other institutional investors have also recently made changes to their positions in the company. Clearbridge Investments LLC raised its stake in shares of The Descartes Systems Group by 25.2% during the 4th quarter. Clearbridge Investments LLC now owns 403,854 shares of the technology company’s stock valued at $35,402,000 after buying an additional 81,354 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. boosted its stake in shares of The Descartes Systems Group by 303.0% in the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 339,370 shares of the technology company’s stock worth $31,961,000 after buying an additional 255,154 shares during the last quarter. Temasek Holdings Private Ltd boosted its stake in shares of The Descartes Systems Group by 63.3% in the third quarter. Temasek Holdings Private Ltd now owns 1,464,165 shares of the technology company’s stock worth $137,968,000 after buying an additional 567,386 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in The Descartes Systems Group during the third quarter worth about $15,602,000. Finally, Norges Bank purchased a new position in The Descartes Systems Group during the fourth quarter valued at approximately $100,405,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on DSGX shares. BMO Capital Markets decreased their price target on The Descartes Systems Group from $95.00 to $82.00 and set a “market perform” rating for the company in a report on Thursday, March 12th. Canadian Imperial Bank of Commerce lifted their target price on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a report on Thursday, June 4th. Loop Capital reiterated a “buy” rating and issued a $96.00 target price on shares of The Descartes Systems Group in a research note on Thursday, June 4th. Raymond James Financial decreased their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Finally, Morgan Stanley lowered their price target on shares of The Descartes Systems Group from $115.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $103.17.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX opened at $72.10 on Wednesday. The Descartes Systems Group Inc. has a 1 year low of $62.56 and a 1 year high of $109.00. The firm has a market capitalization of $6.18 billion, a price-to-earnings ratio of 36.05 and a beta of 0.64. The business’s 50 day moving average price is $71.40 and its 200-day moving average price is $73.84.

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

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.