62,096 Shares in The Descartes Systems Group Inc. $DSGX Purchased by Cibc World Market Inc.

Cibc World Market Inc. purchased a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 62,096 shares of the technology company’s stock, valued at approximately $4,297,000.

Several other large investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of The Descartes Systems Group during the 3rd quarter worth approximately $27,000. Trust Co. of Vermont acquired a new position in shares of The Descartes Systems Group in the second quarter valued at $33,000. Danske Bank A S acquired a new position in shares of The Descartes Systems Group in the third quarter valued at $34,000. Keating Financial Advisory Services Inc. bought a new position in The Descartes Systems Group in the second quarter worth $38,000. Finally, EverSource Wealth Advisors LLC lifted its position in The Descartes Systems Group by 57.5% in the first quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company’s stock worth $39,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Weiss Ratings raised shares of The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 21st. 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. 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 report on Monday, July 20th. Canadian Imperial Bank of Commerce upped their target price on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a research note on Thursday, June 4th. Finally, Loop Capital reissued a “buy” rating and issued a $96.00 price target on shares of The Descartes Systems Group in a research report on Thursday, June 4th. One research 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.54.

The Descartes Systems Group Price Performance

Shares of DSGX stock opened at $77.52 on Wednesday. The stock’s fifty day simple moving average is $73.32 and its 200 day simple moving average is $71.53. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 38.76 and a beta of 0.62. The Descartes Systems Group Inc. has a one year low of $62.56 and a one year high of $109.00.

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

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.