The Descartes Systems Group Inc. $DSGX Shares Newly Bought by Summit Creek Advisors LLC

Key Points

• Summit Creek Advisors initiated a position in Descartes Systems Group, buying 47,532 shares valued at about $3.84 million, or 0.06% of the company.
• Institutional ownership stands at 77.73%, with several other investors also adding or opening positions, including Bank of America, TD Waterhouse Canada, and Manufacturers Life.
• Descartes matched quarterly EPS estimates at $0.57 and exceeded revenue estimates with $198.12 million, up 11.8% year over year. Analysts’ average rating is “Moderate Buy,” with an average price target of $100.33.

Summit Creek Advisors LLC purchased a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 47,532 shares of the technology company's stock, valued at approximately $3,843,000. Summit Creek Advisors LLC owned 0.06% of The Descartes Systems Group at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in shares of The Descartes Systems Group by 62.0% during the 1st quarter. Bank of America Corp DE now owns 733,483 shares of the technology company's stock valued at $52,488,000 after buying an additional 280,713 shares in the last quarter. Crown Oak Advisors LLC purchased a new stake in shares of The Descartes Systems Group in the 3rd quarter worth about $3,561,000. TD Waterhouse Canada Inc. bought a new position in shares of The Descartes Systems Group in the 3rd quarter worth about $7,995,000. Walleye Capital LLC increased its stake in shares of The Descartes Systems Group by 1,011.9% in the 1st quarter. Walleye Capital LLC now owns 128,723 shares of the technology company's stock worth $9,211,000 after acquiring an additional 117,146 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of The Descartes Systems Group by 140.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,100,755 shares of the technology company's stock worth $78,772,000 after acquiring an additional 643,071 shares in the last quarter. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Trading Down 0.9%

NASDAQ DSGX opened at $93.99 on Friday. The Descartes Systems Group Inc. has a 12 month low of $62.56 and a 12 month high of $96.75. The stock's fifty day moving average price is $83.79 and its 200-day moving average price is $75.01. The stock has a market cap of $8.04 billion, a P/E ratio of 43.92 and a beta of 0.65.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. National Bank Financial lifted their price target on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Monday, September 14th. Weiss Ratings upgraded shares of The Descartes Systems Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, September 21st. Scotiabank raised their target price on shares of 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. Royal Bank Of Canada set a $125.00 target price on shares of The Descartes Systems Group and gave the company an "outperform" rating in a report on Friday, September 4th. Finally, Loop Capital reiterated a "buy" rating and set a $96.00 target price on shares of The Descartes Systems Group in a report on Thursday, October 8th. One research 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $100.33.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc is a technology company that provides cloud-based logistics and supply chain management solutions. Its software helps businesses manage and automate transportation, logistics, trade compliance, communications and related processes across complex supply chains.

Descartes' products and services include shipment management, transportation routing and scheduling, fleet and telematics applications, customs and regulatory compliance, electronic invoicing, supply chain visibility, order and inventory management, and logistics messaging.

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