Empowered Funds LLC Invests $3.25 Million in The Descartes Systems Group Inc. $DSGX

Key Points

• Empowered Funds LLC initiated a roughly $3.25 million position in The Descartes Systems Group during the second quarter, acquiring 46,881 shares and representing about 0.05% ownership.
• Institutional investors collectively own 77.73% of DSGX, while the stock recently traded at $80.43, with a market capitalization of approximately $6.89 billion.
• Descartes exceeded quarterly EPS expectations, reporting $0.55 versus $0.52 expected, and posted 14.7% year-over-year revenue growth. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $102.54.

Empowered Funds LLC purchased a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 46,881 shares of the technology company's stock, valued at approximately $3,246,000. Empowered Funds LLC owned approximately 0.05% of The Descartes Systems Group as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in DSGX. Quarry LP purchased a new position in The Descartes Systems Group in the third quarter valued at about $27,000. Danske Bank A S acquired a new stake in shares of The Descartes Systems Group in the 3rd quarter worth approximately $34,000. Measured Wealth Private Client Group LLC purchased a new position in The Descartes Systems Group in the 3rd quarter valued at approximately $40,000. Trust Co. of Vermont acquired a new position in The Descartes Systems Group during the second quarter worth $33,000. Finally, Keating Financial Advisory Services Inc. purchased a new stake in The Descartes Systems Group during the second quarter worth $38,000. Hedge funds and other institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $80.43 on Wednesday. The company has a market capitalization of $6.89 billion, a price-to-earnings ratio of 40.22 and a beta of 0.62. The company's 50 day simple moving average is $74.55 and its 200 day simple moving average is $71.98. The Descartes Systems Group Inc. has a 1 year low of $62.56 and a 1 year high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its earnings results on Wednesday, June 3rd. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. The firm 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 Descartes Systems Group's revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 EPS. Equities analysts expect that The Descartes Systems Group Inc. will post 2.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. National Bank Financial set a $95.00 price target on The Descartes Systems Group and gave the company an "outperform" rating in a research report on Monday, July 20th. Raymond James Financial cut their target price on shares of 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. Loop Capital reiterated a "buy" rating and issued a $96.00 price target on shares of The Descartes Systems Group in a research report on Thursday, June 4th. Weiss Ratings upgraded The Descartes Systems Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 21st. Finally, Canadian Imperial Bank of Commerce upped their target price on The Descartes Systems Group from $116.00 to $118.00 and gave the company an "outperformer" rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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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