Connor Clark & Lunn Investment Management Ltd. Makes New $58.76 Million Investment in The Descartes Systems Group Inc. $DSGX

Key Points

• Connor Clark & Lunn Investment Management acquired 849,164 shares of Descartes Systems Group, valued at approximately $58.76 million, giving it a 0.99% stake. Institutional investors and hedge funds collectively own 77.73% of the company.
• Descartes reported quarterly EPS of $0.55, exceeding estimates by $0.03, while revenue increased 14.7% year over year to $166.96 million. Analysts expect full-year EPS of $2.37.
• The stock opened at $78.21, compared with a consensus analyst price target of $102.54. Coverage remains favorable, with a consensus rating of “Moderate Buy” based on one Strong Buy, eleven Buy, and three Hold ratings.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 849,164 shares of the technology company's stock, valued at approximately $58,755,000. Connor Clark & Lunn Investment Management Ltd. owned 0.99% of The Descartes Systems Group at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of DSGX. Quarry LP purchased a new position in The Descartes Systems Group in the third quarter valued at approximately $27,000. Danske Bank A S acquired a new position in The Descartes Systems Group during the third quarter valued at approximately $34,000. Measured Wealth Private Client Group LLC purchased a new stake in The Descartes Systems Group during the third quarter worth approximately $40,000. Trust Co. of Vermont purchased a new stake in The Descartes Systems Group during the second quarter worth approximately $33,000. Finally, Keating Financial Advisory Services Inc. acquired a new stake in shares of The Descartes Systems Group in the second quarter worth $38,000. 77.73% of the stock is owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $78.21 on Monday. The Descartes Systems Group Inc. has a one year low of $62.56 and a one year high of $109.00. The stock has a 50-day moving average price of $73.07 and a 200 day moving average price of $71.37. The company has a market capitalization of $6.70 billion, a P/E ratio of 39.10 and a beta of 0.62.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.03. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The company had revenue of $166.96 million for the quarter, compared to the consensus estimate of $193.57 million. During the same period in the previous year, the business earned $0.41 EPS. The Descartes Systems Group's revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, equities research analysts forecast that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DSGX has been the topic of a number of research reports. National Bank Financial set a $95.00 target price on shares of The Descartes Systems Group and gave the company an "outperform" rating in a research note on Monday, July 20th. 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. Weiss Ratings upgraded The Descartes Systems Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, July 21st. Canadian Imperial Bank of Commerce boosted their price target on The Descartes Systems Group from $116.00 to $118.00 and gave the stock an "outperformer" rating in a research report on Thursday, June 4th. Finally, Raymond James Financial decreased their price target 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, The Descartes Systems Group has a consensus rating of "Moderate Buy" and an average price target of $102.54.

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.

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