Engineers Gate Manager LP Has $1.50 Million Position in The Descartes Systems Group Inc. $DSGX

Key Points

• Engineers Gate Manager LP reduced its DSGX stake by 59.9% in the second quarter, selling 32,484 shares and retaining 21,711 shares valued at approximately $1.50 million. Institutional investors collectively own 77.73% of the company.
• Analysts maintain a positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $102.71. Recent target changes ranged from $96 to $125.
• Descartes reported quarterly EPS of $0.57, matching estimates, while revenue of $198.12 million exceeded forecasts and rose 11.8% year over year. Shares opened at $79.04, with a 52-week range of $62.56 to $104.43.

Engineers Gate Manager LP lessened its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 59.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,711 shares of the technology company's stock after selling 32,484 shares during the period. Engineers Gate Manager LP's holdings in The Descartes Systems Group were worth $1,503,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Trust Co. of Vermont bought a new stake in shares of The Descartes Systems Group in the 2nd quarter valued at approximately $33,000. Keating Financial Advisory Services Inc. bought a new position in shares of The Descartes Systems Group during the second quarter valued at $38,000. EverSource Wealth Advisors LLC increased its position in shares of The Descartes Systems Group by 57.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company's stock worth $39,000 after purchasing an additional 200 shares in the last quarter. Allworth Financial LP acquired a new stake in shares of The Descartes Systems Group during the 2nd quarter worth about $49,000. Finally, Parallel Advisors LLC lifted its holdings in The Descartes Systems Group by 124.7% during the 1st quarter. Parallel Advisors LLC now owns 755 shares of the technology company's stock valued at $54,000 after purchasing an additional 419 shares during the last quarter. Institutional investors own 77.73% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on DSGX. Canadian Imperial Bank of Commerce boosted their price target on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the company an "outperformer" rating in a research report on Thursday, June 4th. Scotiabank raised their price objective on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the stock a "sector outperform" rating in a report on Friday, September 11th. Royal Bank Of Canada set a $125.00 target price on shares of The Descartes Systems Group and gave the company an "outperform" rating in a research note on Friday, September 4th. 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. Finally, Raymond James Financial decreased their price target on The Descartes Systems Group from $118.00 to $108.00 and set an "outperform" rating on the stock in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $102.71.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock opened at $79.04 on Thursday. The firm has a market cap of $6.76 billion, a P/E ratio of 36.93 and a beta of 0.62. The firm has a 50 day simple moving average of $76.07 and a 200 day simple moving average of $72.92. The Descartes Systems Group Inc. has a fifty-two week low of $62.56 and a fifty-two week high of $104.43.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings data on Thursday, September 10th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. The firm had revenue of $198.12 million for the quarter, compared to the consensus estimate of $197.54 million. The Descartes Systems Group had a return on equity of 11.66% and a net margin of 24.25%.The business's revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.43 EPS. On average, sell-side analysts expect that The Descartes Systems Group Inc. will post 2.37 EPS for the current year.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc is a Canadian technology company that provides cloud-based logistics and supply chain management software. Its platform helps businesses manage the movement of goods, shipments, vehicles and trade-related information across complex supply chains.

The company's offerings include transportation management, route planning and optimization, shipment tracking, telematics, freight matching, customs and regulatory compliance, logistics messaging, and electronic connectivity among shippers, carriers, brokers, manufacturers and other supply chain participants.

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