Public Employees Retirement System of Ohio Makes New $1.87 Million Investment in The Descartes Systems Group Inc. $DSGX

Public Employees Retirement System of Ohio acquired a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the second quarter, Holdings Channel reports. The fund acquired 26,960 shares of the technology company’s stock, valued at approximately $1,867,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of The Descartes Systems Group during the third quarter valued at approximately $27,000. Trust Co. of Vermont acquired a new position in The Descartes Systems Group in the 2nd quarter worth approximately $33,000. Danske Bank A S acquired a new position in The Descartes Systems Group in the 3rd quarter worth approximately $34,000. Keating Financial Advisory Services Inc. purchased a new position in The Descartes Systems Group during the 2nd quarter worth approximately $38,000. Finally, EverSource Wealth Advisors LLC grew its position in The Descartes Systems Group by 57.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company’s stock worth $39,000 after purchasing an additional 200 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on DSGX. National Bank Financial set a $95.00 target price on The Descartes Systems Group and gave the company an “outperform” rating in a report on Monday, July 20th. Royal Bank Of Canada set a $125.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a report on Friday. Loop Capital reissued a “buy” rating and set a $96.00 price target on shares of The Descartes Systems Group in a research report on Thursday, June 4th. Raymond James Financial reduced their price objective on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Finally, Canadian Imperial Bank of Commerce raised their price objective 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 analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.46.

The Descartes Systems Group Price Performance

DSGX stock opened at $78.94 on Monday. The company has a 50 day moving average of $75.22 and a two-hundred day moving average of $72.28. The company has a market cap of $6.75 billion, a price-to-earnings ratio of 39.47 and a beta of 0.62. The Descartes Systems Group Inc. has a 12-month low of $62.56 and a 12-month high of $109.00.

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.