CIBC Asset Management Inc Buys 127,762 Shares of The Descartes Systems Group Inc. $DSGX

CIBC Asset Management Inc increased its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 15.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 963,361 shares of the technology company’s stock after acquiring an additional 127,762 shares during the quarter. CIBC Asset Management Inc owned about 1.12% of The Descartes Systems Group worth $91,369,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ritholtz Wealth Management boosted its position in shares of The Descartes Systems Group by 1.7% during the 3rd quarter. Ritholtz Wealth Management now owns 6,654 shares of the technology company’s stock valued at $627,000 after purchasing an additional 114 shares in the last quarter. GAMMA Investing LLC lifted its stake in The Descartes Systems Group by 23.2% in the second quarter. GAMMA Investing LLC now owns 622 shares of the technology company’s stock valued at $63,000 after buying an additional 117 shares during the period. Vista Finance LLC lifted its stake in The Descartes Systems Group by 4.0% in the second quarter. Vista Finance LLC now owns 3,245 shares of the technology company’s stock valued at $330,000 after buying an additional 126 shares during the period. AXA S.A. boosted its holdings in shares of The Descartes Systems Group by 2.0% during the 2nd quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock worth $681,000 after buying an additional 130 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in shares of The Descartes Systems Group by 24.8% during the 3rd quarter. Versant Capital Management Inc now owns 660 shares of the technology company’s stock worth $62,000 after buying an additional 131 shares during the period. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Stock Performance

DSGX opened at $81.72 on Friday. The Descartes Systems Group Inc. has a fifty-two week low of $78.88 and a fifty-two week high of $124.31. The firm has a 50-day moving average of $86.47 and a 200 day moving average of $94.26. The firm has a market cap of $7.03 billion, a P/E ratio of 46.17 and a beta of 0.74.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $184.24 million. During the same period last year, the business posted $0.42 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. Equities research analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on DSGX shares. Raymond James Financial raised shares of The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price objective on the stock in a research report on Thursday, December 4th. Royal Bank Of Canada set a $126.00 price target on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Monday, December 1st. BMO Capital Markets reduced their price objective on The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating for the company in a research note on Thursday, December 4th. TD Securities raised The Descartes Systems Group to a “strong-buy” rating in a research report on Friday, December 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of The Descartes Systems Group in a report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $116.20.

About The Descartes Systems Group

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.