Thrivent Financial for Lutherans Makes New Investment in The Descartes Systems Group Inc. $DSGX

Thrivent Financial for Lutherans bought a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 106,450 shares of the technology company’s stock, valued at approximately $10,031,000. Thrivent Financial for Lutherans owned approximately 0.12% of The Descartes Systems Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the company. Teacher Retirement System of Texas purchased a new stake in shares of The Descartes Systems Group in the third quarter valued at about $8,528,000. Y Intercept Hong Kong Ltd purchased a new position in shares of The Descartes Systems Group during the third quarter worth about $2,460,000. Grandeur Peak Global Advisors LLC increased its position in The Descartes Systems Group by 41.2% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 371,075 shares of the technology company’s stock valued at $37,720,000 after acquiring an additional 108,250 shares during the period. CIBC Asset Management Inc raised its stake in The Descartes Systems Group by 15.3% during the 3rd quarter. CIBC Asset Management Inc now owns 963,361 shares of the technology company’s stock valued at $91,369,000 after acquiring an additional 127,762 shares during the last quarter. Finally, Cidel Asset Management Inc. lifted its position in The Descartes Systems Group by 31.9% during the 2nd quarter. Cidel Asset Management Inc. now owns 142,322 shares of the technology company’s stock worth $14,428,000 after acquiring an additional 34,411 shares during the period. 77.73% of the stock is owned by institutional investors and hedge funds.

The Descartes Systems Group Trading Up 0.9%

Shares of DSGX opened at $66.95 on Thursday. The Descartes Systems Group Inc. has a twelve month low of $64.27 and a twelve month high of $124.31. The firm has a market capitalization of $5.76 billion, a P/E ratio of 37.83 and a beta of 0.75. The firm’s 50-day moving average is $85.56 and its two-hundred day moving average is $92.68.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $184.24 million. During the same quarter in the prior year, the firm posted $0.42 EPS. The company’s revenue was up 11.2% compared to the same quarter last year. Analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Raymond James Financial upgraded The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 target price on the stock in a research note on Thursday, December 4th. Zacks Research upgraded shares of The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. BMO Capital Markets dropped 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 note on Thursday, December 4th. Royal Bank Of Canada set a $126.00 target price on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Monday, December 1st. Finally, CIBC dropped their price target on shares of The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Two equities research 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. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $114.20.

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.