Grandeur Peak Global Advisors LLC Makes New $6.54 Million Investment in The Descartes Systems Group Inc. $DSGX

Key Points

• Grandeur Peak Global Advisors initiated a $6.54 million position in The Descartes Systems Group during the second quarter, acquiring 59,500 shares and making the stock its 12th-largest holding.
• Institutional ownership remains high at 77.73%, while analysts maintain a generally positive outlook: DSGX has a “Moderate Buy” consensus rating and an average price target of $102.54.
• Descartes reported quarterly EPS of $0.55, exceeding estimates of $0.52, and revenue rose 14.7% year over year. Shares opened at $81.83, with a $7.01 billion market capitalization and a price-to-earnings ratio of 40.91.

Grandeur Peak Global Advisors LLC bought a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 59,500 shares of the technology company's stock, valued at approximately $6,537,000. The Descartes Systems Group comprises approximately 1.6% of Grandeur Peak Global Advisors LLC's holdings, making the stock its 12th largest holding. Grandeur Peak Global Advisors LLC owned 0.07% of The Descartes Systems Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DSGX. Quarry LP purchased a new stake in The Descartes Systems Group during the 3rd quarter valued at approximately $27,000. Trust Co. of Vermont acquired a new position in shares of The Descartes Systems Group in the second quarter valued at approximately $33,000. Danske Bank A S purchased a new position in The Descartes Systems Group during the 3rd quarter worth $34,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of The Descartes Systems Group in the 2nd quarter valued at approximately $38,000. Finally, EverSource Wealth Advisors LLC grew its stake 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 during the period. Hedge funds and other institutional investors own 77.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. National Bank Financial set a $95.00 price target on The Descartes Systems Group and gave the stock an "outperform" rating in a research note on Monday, July 20th. Raymond James Financial reduced 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. Canadian Imperial Bank of Commerce raised their price target on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an "outperformer" rating in a research note on Thursday, June 4th. Weiss Ratings upgraded shares of The Descartes Systems Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, July 21st. Finally, Loop Capital reissued a "buy" rating and issued a $96.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, June 4th. One 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $102.54.

The Descartes Systems Group Stock Performance

Shares of DSGX stock opened at $81.83 on Monday. The Descartes Systems Group Inc. has a one year low of $62.56 and a one year high of $109.00. The company has a 50 day moving average price of $74.02 and a 200 day moving average price of $71.80. The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of 40.91 and a beta of 0.62.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.03. The company had revenue of $166.96 million for the quarter, compared to analyst estimates 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 quarter last year, the business earned $0.41 EPS. As a group, equities analysts forecast that The Descartes Systems Group Inc. will post 2.34 EPS for the current fiscal 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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