Summit Creek Advisors LLC Purchases Shares of 67,708 The Descartes Systems Group Inc. $DSGX

Summit Creek Advisors LLC purchased a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 2nd quarter, Holdings Channel reports. The firm purchased 67,708 shares of the technology company’s stock, valued at approximately $4,688,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in The Descartes Systems Group by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company’s stock worth $316,050,000 after buying an additional 69,260 shares in the last quarter. Mackenzie Financial Corp raised its stake in The Descartes Systems Group by 1.7% during the 4th quarter. Mackenzie Financial Corp now owns 3,371,562 shares of the technology company’s stock valued at $296,326,000 after acquiring an additional 56,069 shares in the last quarter. Janus Henderson Group PLC raised its stake in The Descartes Systems Group by 4.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,574,468 shares of the technology company’s stock valued at $184,127,000 after acquiring an additional 100,937 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in The Descartes Systems Group by 74.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,743,262 shares of the technology company’s stock worth $152,898,000 after acquiring an additional 743,104 shares during the period. Finally, Morgan Stanley boosted its position in The Descartes Systems Group by 97.2% during the 4th quarter. Morgan Stanley now owns 1,584,393 shares of the technology company’s stock worth $138,888,000 after acquiring an additional 780,857 shares during the period. Institutional investors own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DSGX. Canadian Imperial Bank of Commerce increased their price target on The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research note on Thursday, June 4th. Raymond James Financial reduced their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. Loop Capital reiterated a “buy” rating and issued a $96.00 target price on shares of The Descartes Systems Group in a research report on Thursday, June 4th. National Bank Financial set a $95.00 target price on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research note on Monday, July 20th. Finally, Weiss Ratings upgraded shares of The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.54.

The Descartes Systems Group Stock Up 0.5%

NASDAQ:DSGX opened at $75.27 on Wednesday. The business’s 50-day moving average price is $72.81 and its 200 day moving average price is $71.30. The Descartes Systems Group Inc. has a 52-week low of $62.56 and a 52-week high of $109.00. The firm has a market cap of $6.45 billion, a P/E ratio of 37.63 and a beta of 0.62.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. The company had revenue of $166.96 million during the quarter, compared to analyst estimates of $193.57 million. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 EPS. Sell-side analysts expect that The Descartes Systems Group Inc. will post 2.37 EPS for the current year.

About The Descartes Systems Group

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.