Nykredit A S Makes New $1.87 Million Investment in The Descartes Systems Group Inc. $DSGX

Key Points

• Nykredit A/S acquired 27,000 shares of The Descartes Systems Group worth approximately $1.87 million in the second quarter. Institutional investors collectively own 77.73% of the company.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $102.71; several firms recently raised their targets.
• Descartes reported quarterly revenue of $198.12 million, up 11.8% year over year, while earnings of $0.57 per share matched expectations.

Nykredit A S bought a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 27,000 shares of the technology company's stock, valued at approximately $1,869,000.

A number of other institutional investors have also recently made changes to their positions in DSGX. Corient Private Wealth LP purchased a new stake in The Descartes Systems Group during the second quarter valued at approximately $377,000. Amundi purchased a new stake in The Descartes Systems Group during the 2nd quarter valued at $9,609,000. Wellington Grp LLC bought a new stake in The Descartes Systems Group in the second quarter worth $142,000. HighTower Advisors LLC purchased a new position in The Descartes Systems Group during the second quarter worth $246,000. Finally, TD Waterhouse Canada Inc. purchased a new position in The Descartes Systems Group during the second quarter worth $11,263,000. Institutional investors own 77.73% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Scotiabank upped their target price on The Descartes Systems Group from $95.00 to $98.00 and gave the company a "sector outperform" rating in a research note on Friday, September 11th. 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 research note on Thursday, June 4th. Weiss Ratings upgraded shares of The Descartes Systems Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday. National Bank Financial upped their target price on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Monday, September 14th. Finally, Royal Bank Of Canada set a $125.00 target price on shares of The Descartes Systems Group and gave the stock an "outperform" rating in a research report on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group presently has a consensus rating of "Moderate Buy" and an average target price of $102.71.

The Descartes Systems Group Stock Performance

Shares of DSGX stock opened at $78.86 on Wednesday. The Descartes Systems Group Inc. has a fifty-two week low of $62.56 and a fifty-two week high of $104.43. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 36.85 and a beta of 0.62. The stock's 50-day simple moving average is $76.60 and its 200-day simple moving average is $73.23.

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

The Descartes Systems Group 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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