TD Waterhouse Canada Inc. Acquires New Shares in The Descartes Systems Group Inc. $DSGX

TD Waterhouse Canada Inc. bought a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the second quarter, HoldingsChannel.com reports. The firm bought 102,510 shares of the technology company’s stock, valued at approximately $11,263,000.

Several other institutional investors have also recently bought and sold shares of DSGX. Quarry LP acquired a new stake in shares of The Descartes Systems Group in the 3rd quarter valued at approximately $27,000. Trust Co. of Vermont acquired a new position in The Descartes Systems Group during the 2nd quarter worth approximately $33,000. Danske Bank A S bought a new position in The Descartes Systems Group in the 3rd quarter valued at approximately $34,000. Keating Financial Advisory Services Inc. bought a new position in The Descartes Systems Group in the 2nd quarter valued at approximately $38,000. Finally, EverSource Wealth Advisors LLC boosted 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 valued at $39,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

Shares of DSGX stock opened at $78.94 on Friday. The business’s 50 day simple moving average is $75.22 and its 200 day simple moving average is $72.23. The Descartes Systems Group Inc. has a one year low of $62.56 and a one year high of $109.00. The stock has a market capitalization of $6.75 billion, a PE ratio of 39.47 and a beta of 0.62.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The business had revenue of $166.96 million during the quarter, compared to the consensus estimate of $193.57 million. During the same quarter in the prior year, the firm posted $0.41 EPS. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, research analysts expect that The Descartes Systems Group Inc. will post 2.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

DSGX has been the subject of several research analyst reports. Loop Capital reiterated a “buy” rating and set a $96.00 price target on shares of The Descartes Systems Group in a report on Thursday, June 4th. Weiss Ratings raised The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 21st. Canadian Imperial Bank of Commerce increased their target price on The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a research report on Thursday, June 4th. Royal Bank Of Canada set a $125.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Friday. Finally, Raymond James Financial reduced their price target on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.46.

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.