CenterBook Partners LP Makes New $988,000 Investment in The Descartes Systems Group Inc. $DSGX

CenterBook Partners LP acquired a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,486 shares of the technology company’s stock, valued at approximately $988,000.

Several other large investors have also recently modified their holdings of the company. Teacher Retirement System of Texas bought a new stake in shares of The Descartes Systems Group in the third quarter worth $8,528,000. Y Intercept Hong Kong Ltd bought a new stake in shares of The Descartes Systems Group in the 3rd quarter worth about $2,460,000. Grandeur Peak Global Advisors LLC raised its stake in shares of The Descartes Systems Group by 41.2% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 371,075 shares of the technology company’s stock valued at $37,720,000 after purchasing an additional 108,250 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of The Descartes Systems Group by 15.3% during the third quarter. CIBC Asset Management Inc now owns 963,361 shares of the technology company’s stock worth $91,369,000 after purchasing an additional 127,762 shares during the last quarter. Finally, Thrivent Financial for Lutherans bought a new position in shares of The Descartes Systems Group during the third quarter worth about $10,031,000. Institutional investors own 77.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Morgan Stanley upgraded shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating in a research note on Thursday, January 15th. BMO Capital Markets lowered their price objective on shares of The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating for the company in a research report on Thursday, December 4th. Canadian Imperial Bank of Commerce dropped their price objective on shares of The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Barclays upgraded The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $106.00 to $105.00 in a research note on Monday, January 12th. Finally, Scotiabank lowered their target price on The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $114.20.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX opened at $67.08 on Friday. The Descartes Systems Group Inc. has a 1 year low of $62.56 and a 1 year high of $117.35. The stock has a fifty day moving average price of $80.31 and a two-hundred day moving average price of $89.48. The firm has a market cap of $5.77 billion, a P/E ratio of 37.90 and a beta of 0.75.

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

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.