The Descartes Systems Group Inc. $DSGX Stock: Cidel Asset Management Inc. Increases Holdings

Key Points

• Cidel Asset Management increased its Descartes Systems Group stake by 17.7% in the third quarter, bringing its holdings to 138,556 shares valued at approximately $11.2 million. Institutional investors and hedge funds collectively own 77.73% of the company.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $100.33. Several firms recently raised their targets, including National Bank Financial to $100.
• Descartes reported quarterly revenue of $198.12 million, up 11.8% year over year, while earnings per share of $0.57 matched analyst expectations. Shares recently traded at $90.62, near the company’s one-year high of $95.41.

Cidel Asset Management Inc. increased its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 17.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 138,556 shares of the technology company's stock after buying an additional 20,799 shares during the quarter. Cidel Asset Management Inc. owned about 0.16% of The Descartes Systems Group worth $11,235,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Gilliland Jeter Wealth Management LLC purchased a new stake in The Descartes Systems Group in the third quarter valued at $394,000. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd grew its holdings in shares of The Descartes Systems Group by 34.8% during the 3rd quarter. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd now owns 45,998 shares of the technology company's stock worth $3,719,000 after purchasing an additional 11,884 shares during the period. Schwartz Investment Counsel Inc. purchased a new position in shares of The Descartes Systems Group during the 3rd quarter worth $226,000. Signaturefd LLC purchased a new position in shares of The Descartes Systems Group during the 3rd quarter worth $266,000. Finally, SBI Securities Co. Ltd. increased its position in shares of The Descartes Systems Group by 20.2% during the 3rd quarter. SBI Securities Co. Ltd. now owns 969 shares of the technology company's stock worth $78,000 after purchasing an additional 163 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on DSGX shares. National Bank Financial boosted their target price on 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. Scotia upped their price target on The Descartes Systems Group from $95.00 to $98.00 and gave the stock a "sector outperform" rating in a research note on Friday, September 11th. Weiss Ratings upgraded The Descartes Systems Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, September 21st. Scotiabank raised their price target on 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, BMO Capital Markets lifted their price objective on The Descartes Systems Group from $82.00 to $90.00 and gave the company a "market perform" rating in a research note on Tuesday, October 13th. One 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. Based on data from MarketBeat, The Descartes Systems Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $100.33.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $90.62 on Friday. The company's 50-day simple moving average is $82.31 and its 200-day simple moving average is $74.86. The Descartes Systems Group Inc. has a 1 year low of $62.56 and a 1 year high of $95.41. The stock has a market capitalization of $7.75 billion, a PE ratio of 42.35 and a beta of 0.65.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings data on Thursday, September 10th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts' consensus estimates of $0.57. The Descartes Systems Group had a net margin of 24.25% and a return on equity of 11.66%. The firm had revenue of $198.12 million during the quarter, compared to analysts' expectations of $197.54 million. During the same quarter in the previous year, the business posted $0.43 earnings per share. The business's quarterly revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts predict that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current year.

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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