Atria Investments Inc Acquires 10,372 Shares of The Descartes Systems Group Inc. $DSGX

Atria Investments Inc grew its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 106.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,145 shares of the technology company’s stock after acquiring an additional 10,372 shares during the quarter. Atria Investments Inc’s holdings in The Descartes Systems Group were worth $1,898,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Ritholtz Wealth Management raised its holdings in 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 worth $627,000 after buying an additional 114 shares during the period. AXA S.A. increased its position in shares of The Descartes Systems Group by 2.0% during the second quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock worth $681,000 after acquiring an additional 130 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of The Descartes Systems Group by 24.8% during the third quarter. Versant Capital Management Inc now owns 660 shares of the technology company’s stock worth $62,000 after acquiring an additional 131 shares during the period. Orion Porfolio Solutions LLC raised its holdings in shares of The Descartes Systems Group by 4.1% during the second quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company’s stock worth $368,000 after acquiring an additional 143 shares during the period. Finally, Wealth Alliance LLC lifted its position in The Descartes Systems Group by 7.1% in the 2nd quarter. Wealth Alliance LLC now owns 2,461 shares of the technology company’s stock valued at $250,000 after acquiring an additional 164 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

Shares of DSGX stock opened at $65.22 on Wednesday. The Descartes Systems Group Inc. has a 52-week low of $62.56 and a 52-week high of $117.35. The stock has a market cap of $5.61 billion, a price-to-earnings ratio of 36.85 and a beta of 0.75. The firm’s 50-day moving average is $81.85 and its 200-day moving average is $90.09.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share 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 firm had revenue of $186.78 million for the quarter, compared to the consensus estimate of $184.24 million. During the same quarter in the previous year, the business earned $0.42 earnings per share. The business’s revenue was up 11.2% compared to the same quarter last year. Sell-side analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on DSGX shares. BMO Capital Markets dropped their price target on The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating on the stock in a research note on Thursday, December 4th. Weiss Ratings reissued a “hold (c)” rating on shares of The Descartes Systems Group in a research report on Monday, December 29th. Scotiabank reduced their price target on The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, February 4th. Canadian Imperial Bank of Commerce decreased their price target on shares of The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Finally, Zacks Research raised shares of The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $114.20.

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.