Louisbourg Investments Inc. Purchases 34,515 Shares of The Descartes Systems Group Inc. $DSGX

Louisbourg Investments Inc. grew its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 92.4% during the 4th quarter, HoldingsChannel reports. The firm owned 71,863 shares of the technology company’s stock after acquiring an additional 34,515 shares during the quarter. The Descartes Systems Group comprises about 1.2% of Louisbourg Investments Inc.’s investment portfolio, making the stock its 29th biggest position. Louisbourg Investments Inc.’s holdings in The Descartes Systems Group were worth $6,313,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in DSGX. Teacher Retirement System of Texas acquired a new stake in The Descartes Systems Group in the 3rd quarter valued at approximately $8,528,000. Y Intercept Hong Kong Ltd acquired a new position in shares of The Descartes Systems Group during the third quarter worth approximately $2,460,000. CIBC Asset Management Inc lifted its holdings in shares of The Descartes Systems Group by 15.3% during the third quarter. CIBC Asset Management Inc now owns 963,361 shares of the technology company’s stock worth $91,369,000 after buying an additional 127,762 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of The Descartes Systems Group in the third quarter valued at approximately $1,954,000. Finally, Thrivent Financial for Lutherans bought a new stake in shares of The Descartes Systems Group in the third quarter valued at approximately $10,031,000. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Trading Up 0.7%

Shares of NASDAQ DSGX opened at $71.42 on Friday. The business has a fifty day simple moving average of $70.18 and a 200 day simple moving average of $83.12. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 38.40 and a beta of 0.71. The Descartes Systems Group Inc. has a one year low of $62.56 and a one year high of $117.35.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, March 11th. The technology company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The firm had revenue of $192.37 million for the quarter, compared to the consensus estimate of $188.09 million. The Descartes Systems Group had a net margin of 22.47% and a return on equity of 10.70%. The business’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.43 earnings per share. On average, research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DSGX shares. Barclays dropped their target price on shares of The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating on the stock in a research report on Thursday, March 12th. Canaccord Genuity Group reduced their price target on shares of The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating for the company in a report on Thursday, March 12th. TD Securities upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Friday, December 5th. BMO Capital Markets dropped their price objective on shares of The Descartes Systems Group from $95.00 to $82.00 and set a “market perform” rating on the stock in a report on Thursday, March 12th. Finally, Zacks Research lowered shares of The Descartes Systems Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $108.64.

The Descartes Systems Group 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.