Public Sector Pension Investment Board Purchases New Stake in The Descartes Systems Group Inc. $DSGX

Public Sector Pension Investment Board acquired 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 Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 21,780 shares of the technology company’s stock, valued at approximately $2,051,000.

Several other large investors also recently added to or reduced their stakes in DSGX. Mackenzie Financial Corp raised its holdings in shares of The Descartes Systems Group by 2.1% during the 2nd quarter. Mackenzie Financial Corp now owns 3,944,757 shares of the technology company’s stock worth $400,969,000 after acquiring an additional 80,309 shares during the period. Franklin Resources Inc. increased its position in The Descartes Systems Group by 7.0% during the second quarter. Franklin Resources Inc. now owns 1,837,266 shares of the technology company’s stock worth $186,749,000 after purchasing an additional 120,137 shares during the last quarter. Bank of Montreal Can raised its stake in The Descartes Systems Group by 7.9% during the second quarter. Bank of Montreal Can now owns 1,678,473 shares of the technology company’s stock worth $170,613,000 after purchasing an additional 122,378 shares during the period. Geneva Capital Management LLC boosted its holdings in The Descartes Systems Group by 7.2% in the 2nd quarter. Geneva Capital Management LLC now owns 1,573,535 shares of the technology company’s stock valued at $159,942,000 after purchasing an additional 105,614 shares during the last quarter. Finally, Norges Bank acquired a new position in The Descartes Systems Group in the 2nd quarter valued at about $117,678,000. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DSGX. Royal Bank Of Canada set a $126.00 price target on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research report on Monday, December 1st. TD Securities upgraded The Descartes Systems Group to a “strong-buy” rating in a research report on Friday, December 5th. Zacks Research raised The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. Morgan Stanley raised The Descartes Systems Group from an “equal weight” rating to an “overweight” rating in a research report on Thursday, January 15th. Finally, BMO Capital Markets decreased their target price 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 report on Thursday, December 4th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, The Descartes Systems Group presently has a consensus rating of “Buy” and a consensus target price of $114.20.

The Descartes Systems Group Trading Up 1.5%

DSGX stock opened at $67.08 on Monday. The business’s fifty day moving average price is $80.31 and its 200 day moving average price is $89.25. The Descartes Systems Group Inc. has a 12-month low of $62.56 and a 12-month high of $117.35. The company has a market capitalization of $5.77 billion, a PE ratio of 37.90 and a beta of 0.75.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, December 3rd. The technology company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The company had revenue of $186.78 million during the quarter, compared to analysts’ expectations of $184.24 million. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The Descartes Systems Group’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period last year, the business posted $0.42 EPS. Research analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

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.