Northwest & Ethical Investments L.P. Buys New Shares in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Northwest & Ethical Investments L.P. bought a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 23,361 shares of the technology company’s stock, valued at approximately $2,404,000.

Other large investors have also recently bought and sold shares of the company. Intact Investment Management Inc. bought a new stake in The Descartes Systems Group in the 2nd quarter valued at $61,000. Blue Trust Inc. increased its holdings in The Descartes Systems Group by 931.7% in the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after buying an additional 587 shares during the period. Andra AP fonden bought a new stake in The Descartes Systems Group in the 2nd quarter valued at $77,000. Park Place Capital Corp increased its holdings in The Descartes Systems Group by 31.6% in the 2nd quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock valued at $86,000 after buying an additional 212 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in The Descartes Systems Group by 143.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,194 shares of the technology company’s stock valued at $116,000 after buying an additional 704 shares during the period. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DSGX. StockNews.com raised shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. National Bank Financial raised shares of The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. Canaccord Genuity Group set a $108.00 target price on shares of The Descartes Systems Group and gave the stock a “buy” rating in a report on Thursday, September 5th. Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $88.00 to $125.00 in a report on Friday, November 15th. Finally, National Bankshares set a $125.00 target price on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a report on Thursday, September 26th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and a consensus price target of $110.75.

The Descartes Systems Group Trading Up 0.5 %

The Descartes Systems Group stock opened at $116.87 on Friday. The Descartes Systems Group Inc. has a 1 year low of $79.21 and a 1 year high of $118.49. The company has a market cap of $9.99 billion, a PE ratio of 78.97 and a beta of 0.97. The company’s 50-day moving average is $108.20 and its two-hundred day moving average is $101.36.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The firm had revenue of $163.43 million during the quarter, compared to analyst estimates of $160.17 million. The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The business’s revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 earnings per share. Research analysts forecast that The Descartes Systems Group Inc. will post 1.69 EPS for the current year.

About The Descartes Systems Group

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.