The Descartes Systems Group Inc. $DSGX Shares Newly Purchased by Crown Oak Advisors LLC

Key Points

• Crown Oak Advisors acquired 44,035 shares of The Descartes Systems Group during the third quarter, worth approximately $3.56 million and representing about 1.8% of the fund’s holdings.
• Institutional investors and hedge funds own 77.73% of DSGX, with several major firms establishing or significantly expanding positions during the second quarter.
• Descartes reported quarterly revenue of $198.12 million, up 11.8% year over year, while earnings of $0.57 per share met analyst expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $100.33.

Crown Oak Advisors LLC acquired a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 44,035 shares of the technology company's stock, valued at approximately $3,561,000. The Descartes Systems Group accounts for about 1.8% of Crown Oak Advisors LLC's holdings, making the stock its 18th largest position. Crown Oak Advisors LLC owned approximately 0.05% of The Descartes Systems Group at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Jupiter Topco LLC acquired a new stake in shares of The Descartes Systems Group in the second quarter valued at $181,742,000. The Manufacturers Life Insurance Company purchased a new stake in shares of The Descartes Systems Group in the 2nd quarter valued at $141,403,000. Wellington Management Group LLP raised its holdings in shares of The Descartes Systems Group by 640.7% in the 2nd quarter. Wellington Management Group LLP now owns 1,363,426 shares of the technology company's stock valued at $94,402,000 after buying an additional 1,179,345 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of The Descartes Systems Group in the 2nd quarter valued at $58,755,000. Finally, Primecap Management Co. CA purchased a new stake in shares of The Descartes Systems Group in the 2nd quarter valued at $50,460,000. Institutional investors and hedge funds own 77.73% of the company's stock.

The Descartes Systems Group Trading Down 1.8%

Shares of DSGX stock opened at $87.05 on Friday. The company has a market cap of $7.45 billion, a P/E ratio of 40.68 and a beta of 0.65. The firm has a fifty day moving average price of $79.44 and a 200 day moving average price of $74.52. The Descartes Systems Group Inc. has a 12 month low of $62.56 and a 12 month high of $97.71.

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 for the quarter, meeting analysts' consensus estimates of $0.57. The company had revenue of $198.12 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period last year, the firm earned $0.43 earnings per share. On average, equities analysts forecast that The Descartes Systems Group Inc. will post 2.37 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Scotiabank raised their target price on The Descartes Systems Group from $95.00 to $98.00 and gave the company a "sector outperform" rating in a report on Friday, September 11th. Weiss Ratings upgraded shares of The Descartes Systems Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, September 21st. Loop Capital reissued a "buy" rating and set a $96.00 price target on shares of The Descartes Systems Group in a research report on Thursday, October 8th. Scotia increased their price target on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the stock a "sector outperform" rating in a research report on Friday, September 11th. Finally, Royal Bank Of Canada set a $125.00 price objective on shares of The Descartes Systems Group and gave the company an "outperform" rating in a report on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $100.33.

About The Descartes Systems Group

The Descartes Systems Group Inc is a Canadian technology company that provides cloud-based logistics and supply chain management solutions. Its Global Logistics Network connects manufacturers, retailers, distributors, logistics service providers, carriers, and other trading partners to support the exchange of information and the coordination of shipments.

The company's products and services address a range of transportation and trade-management needs, including transportation management, route planning and optimization, delivery and last-mile management, shipment visibility, freight forwarding, customs and regulatory compliance, electronic data interchange, and telematics.

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