23,070 Shares in The Descartes Systems Group Inc. $DSGX Purchased by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp purchased 23,070 shares of The Descartes Systems Group, valued at approximately $1.6 million. Institutional investors collectively own 77.73% of the company.
• Descartes reported quarterly EPS of $0.55, beating estimates by $0.03, while revenue rose 14.7% year over year to $166.96 million. Analysts expect $2.37 in EPS for the current fiscal year.
• The stock opened at $74.92, compared with an average analyst price target of $102.54. Analysts maintain a “Moderate Buy” consensus, with 12 Buy or Strong Buy ratings and three Holds.

Alberta Investment Management Corp purchased a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 23,070 shares of the technology company's stock, valued at approximately $1,596,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of The Descartes Systems Group by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company's stock valued at $316,050,000 after buying an additional 69,260 shares during the last quarter. Mackenzie Financial Corp raised its holdings in The Descartes Systems Group by 1.7% in the 4th quarter. Mackenzie Financial Corp now owns 3,371,562 shares of the technology company's stock worth $296,326,000 after acquiring an additional 56,069 shares during the last quarter. Janus Henderson Group PLC lifted its position 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 valued at $184,127,000 after acquiring an additional 100,937 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position 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 acquiring an additional 743,104 shares in the last quarter. Finally, Morgan Stanley boosted its stake in The Descartes Systems Group by 97.2% during the 4th quarter. Morgan Stanley now owns 1,584,393 shares of the technology company's stock valued at $138,888,000 after purchasing an additional 780,857 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX opened at $74.92 on Tuesday. The stock has a market capitalization of $6.42 billion, a price-to-earnings ratio of 37.46 and a beta of 0.62. The stock's 50-day simple moving average is $72.80 and its two-hundred day simple moving average is $71.33. The Descartes Systems Group Inc. has a 52-week low of $62.56 and a 52-week high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly 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 Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The firm had revenue of $166.96 million during the quarter, compared to analyst estimates of $193.57 million. During the same quarter in the prior year, the firm earned $0.41 EPS. The business's revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, equities analysts forecast that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Loop Capital reissued a "buy" rating and issued a $96.00 target price on shares of The Descartes Systems Group in a report on Thursday, June 4th. National Bank Financial set a $95.00 price target on The Descartes Systems Group and gave the company an "outperform" rating in a report on Monday, July 20th. Weiss Ratings raised 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 objective 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. Finally, Raymond James Financial decreased their target price on The Descartes Systems Group from $118.00 to $108.00 and set an "outperform" rating for the company in a research report on Thursday, June 4th. One investment 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 stock. According to MarketBeat.com, The Descartes Systems Group has an average rating of "Moderate Buy" and an average price target of $102.54.

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.

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