Grandeur Peak Global Advisors LLC Acquires New Stake in The Descartes Systems Group Inc. $DSGX

Key Points

• Grandeur Peak Global Advisors acquired 59,500 DSGX shares worth approximately $4.1 million, giving it a 0.07% stake; institutional investors collectively own 77.73% of the company.
• Analysts maintain a positive outlook, with a consensus “Moderate Buy” rating and an average price target of $102.54, above the reported share price of $80.66.
• Descartes exceeded quarterly EPS expectations, reporting $0.55 versus $0.52 forecast, while revenue grew 14.7% year over year; the stock trades at a P/E ratio of 40.33.

Grandeur Peak Global Advisors LLC acquired a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 59,500 shares of the technology company's stock, valued at approximately $4,118,000. The Descartes Systems Group accounts for approximately 0.8% of Grandeur Peak Global Advisors LLC's investment portfolio, making the stock its 29th largest holding. Grandeur Peak Global Advisors LLC owned 0.07% of The Descartes Systems Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in DSGX. Clearbridge Investments LLC lifted its holdings in The Descartes Systems Group by 25.2% during the fourth quarter. Clearbridge Investments LLC now owns 403,854 shares of the technology company's stock valued at $35,402,000 after purchasing an additional 81,354 shares during the last quarter. Norges Bank bought a new position in The Descartes Systems Group during the fourth quarter worth about $100,405,000. Bank of America Corp DE increased its stake in shares of The Descartes Systems Group by 62.0% in the first quarter. Bank of America Corp DE now owns 733,483 shares of the technology company's stock worth $52,488,000 after purchasing an additional 280,713 shares in the last quarter. Peregrine Capital Management LLC purchased a new position in shares of The Descartes Systems Group in the first quarter worth about $8,671,000. Finally, Vanguard Group Inc. increased its stake in shares of The Descartes Systems Group by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company's stock worth $316,050,000 after purchasing an additional 69,260 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DSGX. National Bank Financial set a $95.00 price target on shares of The Descartes Systems Group and gave the company an "outperform" rating in a research note on Monday, July 20th. Weiss Ratings upgraded shares of The Descartes Systems Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, July 21st. Canadian Imperial Bank of Commerce boosted their target price on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the company an "outperformer" rating in a report on Thursday, June 4th. Raymond James Financial lowered their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "outperform" rating on the stock in a report on Thursday, June 4th. Finally, Loop Capital restated a "buy" rating and set a $96.00 target price on shares of The Descartes Systems Group in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $102.54.

The Descartes Systems Group Trading Up 4.1%

DSGX stock opened at $80.66 on Friday. The firm has a 50 day moving average of $73.73 and a 200-day moving average of $71.70. The Descartes Systems Group Inc. has a 12 month low of $62.56 and a 12 month high of $109.00. The firm has a market capitalization of $6.91 billion, a P/E ratio of 40.33 and a beta of 0.62.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $166.96 million for the quarter, compared to analyst estimates of $193.57 million. During the same quarter in the prior year, the firm posted $0.41 EPS. The Descartes Systems Group's revenue was up 14.7% on a year-over-year basis. Sell-side analysts predict that The Descartes Systems Group Inc. will post 2.34 EPS for the current year.

The Descartes Systems Group 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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