Korea Investment CORP Takes Position in The Descartes Systems Group Inc. $DSGX

Key Points

• Korea Investment CORP acquired 13,333 shares of The Descartes Systems Group in the second quarter, valued at approximately $923,000. Institutional investors and hedge funds collectively own 77.73% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $102.54; individual targets range from $95 to $118.
• Descartes reported quarterly EPS of $0.55, beating estimates of $0.52, while revenue increased 14.7% year over year. The stock recently opened at $77.52, with a market capitalization of about $6.64 billion.

Korea Investment CORP acquired a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 13,333 shares of the technology company's stock, valued at approximately $923,000.

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

Analyst Ratings Changes

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

The Descartes Systems Group Price Performance

DSGX opened at $77.52 on Wednesday. The firm has a fifty day moving average price of $73.32 and a 200 day moving average price of $71.53. The Descartes Systems Group Inc. has a 1 year low of $62.56 and a 1 year high of $109.00. The stock has a market cap of $6.64 billion, a P/E ratio of 38.76 and a beta of 0.62.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate 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 firm's revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the business earned $0.41 earnings per share. Equities 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 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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