Summit Creek Advisors LLC Takes $4.69 Million Position in The Descartes Systems Group Inc. $DSGX

Key Points

• Summit Creek Advisors initiated a $4.69 million position in The Descartes Systems Group during the second quarter, purchasing 67,708 shares and acquiring approximately 0.08% of the company.
• Institutional ownership remains high at 77.73%, with BlackRock and Deutsche Bank among several firms also initiating positions during the quarter.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $102.54; Descartes recently exceeded EPS expectations and reported 14.7% year-over-year revenue growth.

Summit Creek Advisors LLC purchased a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 67,708 shares of the technology company's stock, valued at approximately $4,688,000. Summit Creek Advisors LLC owned about 0.08% of The Descartes Systems Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new stake in The Descartes Systems Group in the second quarter valued at about $48,684,000. Deutsche Bank AG bought a new position in The Descartes Systems Group during the 2nd quarter worth approximately $16,763,000. Trust Co. of Vermont acquired a new position in shares of The Descartes Systems Group in the 2nd quarter worth approximately $33,000. Plato Investment Management Ltd acquired a new position in shares of The Descartes Systems Group in the 2nd quarter worth approximately $341,000. Finally, Global Retirement Partners LLC bought a new stake in shares of The Descartes Systems Group in the 2nd quarter valued at approximately $136,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DSGX. Canadian Imperial Bank of Commerce upped their price target on 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. 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. National Bank Financial set a $95.00 target price on shares of 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 set a $96.00 target price on shares of The Descartes Systems Group in a report on Thursday, June 4th. Finally, Raymond James Financial reduced their price target on shares of 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, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, The Descartes Systems Group currently has a consensus rating of "Moderate Buy" and an average target price of $102.54.

The Descartes Systems Group Trading Up 0.5%

Shares of NASDAQ DSGX opened at $75.27 on Wednesday. The company has a market cap of $6.45 billion, a price-to-earnings ratio of 37.63 and a beta of 0.62. The Descartes Systems Group Inc. has a 12-month low of $62.56 and a 12-month high of $109.00. The stock's 50 day simple moving average is $72.81 and its 200 day simple moving average is $71.30.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.03. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The firm had revenue of $166.96 million during the quarter, compared to the consensus estimate of $193.57 million. During the same period in the prior year, the business earned $0.41 EPS. The firm's revenue was up 14.7% on a year-over-year basis. As a group, equities analysts forecast that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current fiscal year.

About The Descartes Systems Group

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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