Quantbot Technologies LP Makes New $1.68 Million Investment in The Descartes Systems Group Inc. $DSGX

Quantbot Technologies LP acquired a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 24,327 shares of the technology company’s stock, valued at approximately $1,684,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in DSGX. George Kaiser Family Foundation bought a new stake in The Descartes Systems Group during the second quarter worth approximately $1,671,000. Korea Investment CORP acquired a new position in shares of The Descartes Systems Group in the 2nd quarter worth $923,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of The Descartes Systems Group during the second quarter worth $38,000. Allworth Financial LP purchased a new stake in shares of The Descartes Systems Group during the second quarter valued at $49,000. Finally, Summit Creek Advisors LLC acquired a new position in shares of The Descartes Systems Group in the 2nd quarter valued at $4,688,000. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $78.47 on Tuesday. The company’s 50 day moving average price is $73.19 and its 200 day moving average price is $71.46. The Descartes Systems Group Inc. has a 52 week low of $62.56 and a 52 week high of $109.00. The company has a market capitalization of $6.72 billion, a PE ratio of 39.23 and a beta of 0.62.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The company had revenue of $166.96 million during the quarter, compared to the consensus estimate of $193.57 million. During the same quarter in the prior year, the firm earned $0.41 EPS. The company’s revenue was up 14.7% compared to the same quarter last year. On average, equities analysts forecast that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DSGX has been the topic of several recent analyst reports. National Bank Financial set a $95.00 price objective on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Monday, July 20th. Loop Capital restated a “buy” rating and set a $96.00 price target on shares of The Descartes Systems Group in a report on Thursday, June 4th. Raymond James Financial cut their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. Weiss Ratings upgraded The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 21st. Finally, Canadian Imperial Bank of Commerce raised their target price on The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $102.54.

The Descartes Systems Group Company 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.