Summit Creek Advisors LLC Purchases New Position in The Descartes Systems Group Inc. $DSGX

Summit Creek Advisors LLC acquired a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 47,532 shares of the technology company’s stock, valued at approximately $3,843,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jupiter Topco LLC purchased a new stake in The Descartes Systems Group during the 2nd quarter valued at $181,742,000. Janus Henderson Group PLC increased its holdings in shares of The Descartes Systems Group by 4.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,574,468 shares of the technology company’s stock worth $184,127,000 after purchasing an additional 100,937 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of The Descartes Systems Group in the second quarter worth $141,403,000. Wellington Management Group LLP raised its stake in shares of The Descartes Systems Group by 640.7% in the second quarter. Wellington Management Group LLP now owns 1,363,426 shares of the technology company’s stock worth $94,402,000 after purchasing an additional 1,179,345 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of The Descartes Systems Group in the second quarter worth $58,755,000. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Stock Performance

DSGX stock opened at $93.99 on Friday. The Descartes Systems Group Inc. has a fifty-two week low of $62.56 and a fifty-two week high of $96.75. The business’s 50-day moving average is $83.79 and its two-hundred day moving average is $75.01. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 43.92 and a beta of 0.65.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Thursday, September 10th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $198.12 million for the quarter, compared to analysts’ expectations of $197.54 million. The Descartes Systems Group had a return on equity of 11.66% and a net margin of 24.25%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the firm posted $0.43 earnings per share. Equities analysts predict that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on DSGX shares. National Bank Financial upped their price target on The Descartes Systems Group from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, September 14th. Scotia lifted their price objective on The Descartes Systems Group from $95.00 to $98.00 and gave the stock a “sector outperform” rating in a report on Friday, September 11th. Scotiabank boosted their target price on The Descartes Systems Group from $95.00 to $98.00 and gave the stock a “sector outperform” rating in a research report on Friday, September 11th. Royal Bank Of Canada set a $125.00 target price on The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Friday, September 4th. Finally, Loop Capital restated a “buy” rating and set a $96.00 target price on shares of The Descartes Systems Group in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, The Descartes Systems Group presently has an average rating of “Moderate Buy” and a consensus price target of $100.33.

About The Descartes Systems Group

The Descartes Systems Group Inc is a technology company that provides cloud-based logistics and supply chain management solutions. Its software helps businesses manage and automate transportation, logistics, trade compliance, communications and related processes across complex supply chains.

Descartes’ products and services include shipment management, transportation routing and scheduling, fleet and telematics applications, customs and regulatory compliance, electronic invoicing, supply chain visibility, order and inventory management, and logistics messaging.