26,103 Shares in The Descartes Systems Group Inc. $DSGX Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 26,103 shares of the technology company’s stock, valued at approximately $2,460,000.

Other institutional investors have also recently bought and sold shares of the company. Mather Group LLC. bought a new stake in shares of The Descartes Systems Group in the 3rd quarter valued at about $28,000. SBI Securities Co. Ltd. grew its position in shares of The Descartes Systems Group by 77.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 570 shares of the technology company’s stock valued at $58,000 after buying an additional 248 shares during the last quarter. Versant Capital Management Inc increased its holdings in The Descartes Systems Group by 24.8% in the third quarter. Versant Capital Management Inc now owns 660 shares of the technology company’s stock worth $62,000 after purchasing an additional 131 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of The Descartes Systems Group by 23.2% in the 2nd quarter. GAMMA Investing LLC now owns 622 shares of the technology company’s stock worth $63,000 after acquiring an additional 117 shares during the last quarter. Finally, Employees Retirement System of Texas purchased a new position in The Descartes Systems Group in the second quarter worth $68,000. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX traded down $0.34 during trading hours on Wednesday, hitting $81.21. 38,448 shares of the company’s stock traded hands, compared to its average volume of 558,612. The Descartes Systems Group Inc. has a twelve month low of $78.88 and a twelve month high of $124.31. The stock’s fifty day moving average price is $86.56 and its two-hundred day moving average price is $93.91. The firm has a market cap of $6.99 billion, a P/E ratio of 45.90 and a beta of 0.74.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, December 3rd. The technology company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The business had revenue of $186.78 million during the quarter, compared to analyst estimates of $184.24 million. During the same period in the prior year, the company posted $0.42 earnings per share. The Descartes Systems Group’s revenue was up 11.2% on a year-over-year basis. On average, equities research analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DSGX has been the subject of a number of research reports. Royal Bank Of Canada set a $126.00 price objective on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Monday, December 1st. Raymond James Financial raised shares of The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price objective for the company in a research report on Thursday, December 4th. TD Securities upgraded The Descartes Systems Group to a “strong-buy” rating in a research report on Friday, December 5th. BMO Capital Markets reduced their price objective on shares of The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating on the stock in a research report on Thursday, December 4th. Finally, CIBC reduced their price objective on shares of The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, The Descartes Systems Group has a consensus rating of “Buy” and an average target price of $116.20.

The Descartes Systems Group Company Profile

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.