Granahan Investment Management LLC lifted its position in The Descartes Systems Group Inc. (NASDAQ:DSGX – Free Report) (TSE:DSG) by 66.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 55,253 shares of the technology company’s stock after buying an additional 22,016 shares during the period. Granahan Investment Management LLC’s holdings in The Descartes Systems Group were worth $3,954,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Quarry LP bought a new stake in shares of The Descartes Systems Group during the third quarter valued at approximately $27,000. Danske Bank A S bought a new position in The Descartes Systems Group in the 3rd quarter valued at approximately $34,000. Measured Wealth Private Client Group LLC bought a new position in The Descartes Systems Group in the 3rd quarter valued at approximately $40,000. Caitong International Asset Management Co. Ltd boosted its stake in The Descartes Systems Group by 267.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock valued at $52,000 after purchasing an additional 401 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in The Descartes Systems Group by 124.7% during the 1st quarter. Parallel Advisors LLC now owns 755 shares of the technology company’s stock valued at $54,000 after purchasing an additional 419 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on DSGX shares. National Bank Financial set a $95.00 price target on The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Monday, July 20th. Loop Capital reaffirmed a “buy” rating and set a $96.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, June 4th. Rothschild & Co Redburn upgraded The Descartes Systems Group from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $100.00 to $90.00 in a report on Thursday, April 16th. Weiss Ratings raised The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday. Finally, Canadian Imperial Bank of Commerce boosted 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 research 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’s stock. According to data from MarketBeat.com, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and an average price target of $102.54.
The Descartes Systems Group Trading Up 3.7%
Shares of DSGX opened at $68.18 on Friday. The firm has a market cap of $5.84 billion, a PE ratio of 34.09 and a beta of 0.64. The firm has a fifty day simple moving average of $71.69 and a two-hundred day simple moving average of $72.38. The Descartes Systems Group Inc. has a 1-year low of $62.56 and a 1-year high of $109.00.
The Descartes Systems Group (NASDAQ:DSGX – Get Free Report) (TSE:DSG) last released its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. The firm had revenue of $166.96 million for the quarter, compared to analysts’ expectations of $193.57 million. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The company’s revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 EPS. As a group, research analysts forecast that The Descartes Systems Group Inc. will post 2.37 EPS for the current fiscal year.
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.
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