102,510 Shares in The Descartes Systems Group Inc. $DSGX Acquired by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada acquired 102,510 shares of Descartes Systems Group, valued at approximately $11.3 million, while institutional investors and hedge funds collectively owned 77.73% of the company.
• Analysts maintain a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $102.46; recent targets range from $96 to $125.
• Descartes reported quarterly EPS of $0.55, exceeding estimates of $0.52, while revenue rose 14.7% year over year to $166.96 million but fell short of the $193.57 million consensus forecast. Shares opened at $78.94, down 2.2%.

TD Waterhouse Canada Inc. purchased a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 102,510 shares of the technology company's stock, valued at approximately $11,263,000. TD Waterhouse Canada Inc. owned 0.12% of The Descartes Systems Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DSGX. Mackenzie Financial Corp boosted its position in shares of The Descartes Systems Group by 1.7% in the fourth quarter. Mackenzie Financial Corp now owns 3,371,562 shares of the technology company's stock valued at $296,326,000 after acquiring an additional 56,069 shares during the period. Jupiter Topco LLC bought a new position in The Descartes Systems Group during the second quarter worth about $181,742,000. Janus Henderson Group PLC raised its stake in The Descartes Systems Group by 4.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,574,468 shares of the technology company's stock worth $184,127,000 after purchasing an additional 100,937 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in The Descartes Systems Group in the 2nd quarter worth about $141,403,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in The Descartes Systems Group by 74.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,743,262 shares of the technology company's stock valued at $152,898,000 after purchasing an additional 743,104 shares during the period. 77.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DSGX has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of The Descartes Systems Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 21st. Canadian Imperial Bank of Commerce lifted their price target on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the company an "outperformer" rating in a research report on Thursday, June 4th. Raymond James Financial cut their price target on 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. Royal Bank Of Canada set a $125.00 price target on The Descartes Systems Group and gave the stock an "outperform" rating in a research report on Friday. Finally, Loop Capital restated a "buy" rating and set a $96.00 price objective on shares of The Descartes Systems Group in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $102.46.

The Descartes Systems Group Stock Down 2.2%

Shares of The Descartes Systems Group stock opened at $78.94 on Friday. The Descartes Systems Group Inc. has a 12-month low of $62.56 and a 12-month high of $109.00. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of 39.47 and a beta of 0.62. The firm's 50-day moving average price is $75.22 and its two-hundred day moving average price is $72.23.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its earnings results on Wednesday, June 3rd. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. The company had revenue of $166.96 million during the quarter, compared to analysts' expectations of $193.57 million. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The business's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 EPS. On average, sell-side analysts expect that The Descartes Systems Group Inc. will post 2.34 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.

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