Strs Ohio Purchases New Position in The Descartes Systems Group Inc. $DSGX

Key Points

• Strs Ohio has acquired a stake of 146,780 shares in The Descartes Systems Group, valued at approximately $14.8 million, representing 0.17% ownership at the end of the first quarter.
• Several hedge funds, including Mackenzie Financial Corp and Granahan Investment Management LLC, significantly increased their holdings in The Descartes Systems Group during recent quarters.
• The stock price of The Descartes Systems Group has recently decreased by 2.5%, and analysts maintain a consensus rating of "Moderate Buy" with an average target price of $123.60.

Strs Ohio acquired a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 146,780 shares of the technology company's stock, valued at approximately $14,793,000. Strs Ohio owned 0.17% of The Descartes Systems Group at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NBC Securities Inc. purchased a new stake in The Descartes Systems Group in the 1st quarter valued at about $25,000. Cullen Frost Bankers Inc. purchased a new stake in The Descartes Systems Group in the 1st quarter valued at about $49,000. Versant Capital Management Inc grew its position in The Descartes Systems Group by 2,013.5% in the 1st quarter. Versant Capital Management Inc now owns 1,099 shares of the technology company's stock valued at $111,000 after acquiring an additional 1,047 shares in the last quarter. Intact Investment Management Inc. acquired a new position in The Descartes Systems Group in the 1st quarter valued at about $141,000. Finally, Vident Advisory LLC acquired a new position in The Descartes Systems Group in the 1st quarter valued at about $220,000. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Price Performance

Shares of DSGX stock traded up $2.08 during trading hours on Thursday, reaching $102.08. 579,584 shares of the stock were exchanged, compared to its average volume of 485,466. The business's fifty day moving average is $102.75 and its two-hundred day moving average is $103.72. The Descartes Systems Group Inc. has a 12-month low of $92.00 and a 12-month high of $124.31. The firm has a market capitalization of $8.77 billion, a P/E ratio of 60.40 and a beta of 0.80.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.06). The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The firm had revenue of $178.98 million for the quarter, compared to analysts' expectations of $176.51 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. The firm's quarterly revenue was up 10.0% on a year-over-year basis. As a group, equities research analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

DSGX has been the subject of several research reports. Morgan Stanley initiated coverage on The Descartes Systems Group in a research report on Monday, July 14th. They issued an "equal weight" rating and a $110.00 target price for the company. Wall Street Zen raised The Descartes Systems Group from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. Barclays dropped their target price on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a research report on Thursday, June 5th. Royal Bank Of Canada dropped their target price on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a research report on Thursday, June 5th. Finally, Zacks Research raised The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $123.60.

The Descartes Systems Group Profile

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.