Dynamic Technology Lab Private Ltd Buys New Stake in The Descartes Systems Group Inc. $DSGX

Key Points

• Dynamic Technology Lab bought a new stake of 20,740 shares (~$1.95M) in The Descartes Systems Group (NASDAQ:DSGX) during Q3.
• Institutional ownership is high at 77.73%, several funds adjusted positions recently, and analysts have a consensus "Buy" rating with an average target of $114.20.
• Descartes beat quarterly estimates with $0.50 EPS vs. $0.46 expected and revenue of $186.78M (+11.2% YoY); the stock trades around $71.74 with a market cap of $6.17B.

Dynamic Technology Lab Private Ltd purchased a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 20,740 shares of the technology company's stock, valued at approximately $1,954,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mather Group LLC. acquired a new stake in shares of The Descartes Systems Group in the 3rd quarter worth $28,000. SBI Securities Co. Ltd. grew its stake in The Descartes Systems Group by 77.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 570 shares of the technology company's stock worth $58,000 after buying an additional 248 shares during the last quarter. Versant Capital Management Inc increased its position in The Descartes Systems Group by 24.8% during the 3rd quarter. Versant Capital Management Inc now owns 660 shares of the technology company's stock valued at $62,000 after buying an additional 131 shares in the last quarter. Employees Retirement System of Texas purchased a new stake in The Descartes Systems Group in the second quarter valued at about $68,000. Finally, GAMMA Investing LLC raised its stake in The Descartes Systems Group by 42.1% in the third quarter. GAMMA Investing LLC now owns 884 shares of the technology company's stock valued at $83,000 after buying an additional 262 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on DSGX shares. Royal Bank Of Canada set a $126.00 price target on The Descartes Systems Group and gave the stock an "outperform" rating in a report on Monday, December 1st. Barclays raised shares of The Descartes Systems Group from an "equal weight" rating to an "overweight" rating and decreased their price objective for the company from $106.00 to $105.00 in a research report on Monday, January 12th. Morgan Stanley upgraded shares of The Descartes Systems Group from an "equal weight" rating to an "overweight" rating in a research note on Thursday, January 15th. Raymond James Financial raised shares of The Descartes Systems Group from a "market perform" rating to an "outperform" rating and set a $118.00 target price on the stock in a research report on Thursday, December 4th. Finally, TD Securities raised shares of The Descartes Systems Group to a "strong-buy" rating in a report on Friday, December 5th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $114.20.

The Descartes Systems Group Stock Up 0.3%

DSGX stock opened at $71.74 on Friday. The Descartes Systems Group Inc. has a 52-week low of $62.56 and a 52-week high of $117.35. The firm has a market cap of $6.17 billion, a P/E ratio of 40.53 and a beta of 0.77. The company's 50-day simple moving average is $75.91 and its 200-day simple moving average is $87.08.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.04. The firm had revenue of $186.78 million during the quarter, compared to analyst estimates of $184.24 million. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The Descartes Systems Group's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 EPS. On average, analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

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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