291,962 Shares in The Descartes Systems Group Inc. $DSGX Acquired by Sone Capital Management LLC

Sone Capital Management LLC bought a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the second quarter, Holdings Channel.com reports. The fund bought 291,962 shares of the technology company’s stock, valued at approximately $20,220,000. The Descartes Systems Group accounts for approximately 1.5% of Sone Capital Management LLC’s holdings, making the stock its 20th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Van Hulzen Asset Management LLC purchased a new position in The Descartes Systems Group in the 2nd quarter worth approximately $669,000. Manning & Napier Advisors LLC raised its position in shares of The Descartes Systems Group by 59.2% during the 2nd quarter. Manning & Napier Advisors LLC now owns 95,390 shares of the technology company’s stock valued at $6,605,000 after buying an additional 35,461 shares in the last quarter. Cibc World Market Inc. purchased a new stake in shares of The Descartes Systems Group during the 2nd quarter valued at $4,297,000. OMERS ADMINISTRATION Corp bought a new stake in shares of The Descartes Systems Group during the 2nd quarter worth $4,113,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of The Descartes Systems Group during the 2nd quarter worth $216,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Up 0.3%

Shares of NASDAQ:DSGX opened at $78.47 on Tuesday. The stock has a market cap of $6.72 billion, a PE ratio of 39.23 and a beta of 0.62. The company’s fifty day moving average is $73.19 and its 200 day moving average 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 Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $166.96 million during the quarter, compared to analyst estimates of $193.57 million. During the same period in the prior year, the business posted $0.41 earnings per share. The company’s revenue was up 14.7% on a year-over-year basis. Sell-side analysts anticipate that The Descartes Systems Group Inc. will post 2.37 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on DSGX. Canadian Imperial Bank of Commerce increased their target price on The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a research note on Thursday, June 4th. 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. Weiss Ratings upgraded The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 21st. Loop Capital reissued a “buy” rating and set a $96.00 price objective on shares of The Descartes Systems Group in a report on Thursday, June 4th. Finally, Raymond James Financial dropped their target price on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.54.

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.