The Descartes Systems Group Inc. $DSGX Stock: Ninety One North America Inc. Trims Position

Ninety One North America Inc. reduced its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 22.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 95,269 shares of the technology company’s stock after selling 27,536 shares during the period. Ninety One North America Inc.’s holdings in The Descartes Systems Group were worth $7,725,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jupiter Topco LLC purchased a new position in The Descartes Systems Group during the second quarter worth about $181,742,000. Janus Henderson Group PLC boosted its holdings in The Descartes Systems Group by 4.1% in 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 purchasing an additional 100,937 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in The Descartes Systems Group in the 2nd quarter valued at about $141,403,000. Wellington Management Group LLP grew its stake 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. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of The Descartes Systems Group in the 2nd quarter valued at approximately $58,755,000. 77.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DSGX has been the subject of a number of recent analyst reports. National Bank Financial raised their price target on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, September 14th. Scotiabank lifted their price target on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the company a “sector outperform” rating in a research report on Friday, September 11th. Loop Capital reiterated a “buy” rating and issued a $96.00 price objective on shares of The Descartes Systems Group in a report on Thursday, October 8th. BMO Capital Markets upped their price objective on The Descartes Systems Group from $82.00 to $90.00 and gave the company a “market perform” rating in a report on Tuesday. Finally, Royal Bank Of Canada set a $125.00 price objective on The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Friday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, 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 traded up $3.12 during midday trading on Thursday, hitting $88.46. 391,494 shares of the stock were exchanged, compared to its average volume of 615,453. The Descartes Systems Group Inc. has a 52-week low of $62.56 and a 52-week high of $97.71. The stock has a fifty day simple moving average of $79.08 and a 200 day simple moving average of $74.30. The firm has a market cap of $7.57 billion, a P/E ratio of 41.33 and a beta of 0.65.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Thursday, September 10th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. The Descartes Systems Group had a return on equity of 11.66% and a net margin of 24.25%. The firm had revenue of $198.12 million for the quarter, compared to the consensus estimate of $197.54 million. During the same quarter in the previous year, the business earned $0.43 EPS. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, equities research analysts forecast that The Descartes Systems Group Inc. will post 2.37 EPS for the current fiscal year.

The Descartes Systems Group Profile

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.