169,619 Shares in The Descartes Systems Group Inc. $DSGX Purchased by Praesidium Investment Management Company LLC

Praesidium Investment Management Company LLC purchased a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 169,619 shares of the technology company’s stock, valued at approximately $11,744,420. The Descartes Systems Group comprises 0.0% of Praesidium Investment Management Company LLC’s holdings, making the stock its 9th largest holding. Praesidium Investment Management Company LLC owned 0.20% of The Descartes Systems Group as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in DSGX. Quarry LP purchased a new stake in shares of The Descartes Systems Group during the third quarter worth approximately $27,000. Danske Bank A S acquired a new stake in The Descartes Systems Group during the third quarter worth about $34,000. Measured Wealth Private Client Group LLC acquired a new position in The Descartes Systems Group in the third quarter valued at approximately $40,000. Trust Co. of Vermont bought a new stake in The Descartes Systems Group during the second quarter worth $33,000. Finally, Keating Financial Advisory Services Inc. bought a new stake in The Descartes Systems Group during the second quarter worth $38,000. 77.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

The Descartes Systems Group Stock Up 1.5%

DSGX stock traded up $1.17 during trading on Friday, reaching $81.83. 750,843 shares of the company’s stock were exchanged, compared to its average volume of 601,970. The company’s fifty day moving average price is $73.73 and its 200-day moving average price is $71.70. The Descartes Systems Group Inc. has a 1-year low of $62.56 and a 1-year high of $109.00. The firm has a market cap of $7.01 billion, a PE ratio of 40.91 and a beta of 0.62.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The business had revenue of $166.96 million during the quarter, compared to analysts’ expectations of $193.57 million. During the same quarter last year, the company posted $0.41 earnings per share. The Descartes Systems Group’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, sell-side analysts expect that The Descartes Systems Group Inc. will post 2.34 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.