Centaurus Financial Inc. bought a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX – Free Report) (TSE:DSG) in the 2nd quarter, HoldingsChannel reports. The fund bought 43,057 shares of the technology company’s stock, valued at approximately $2,981,000.
Other institutional investors have also made changes to their positions in the company. Jupiter Topco LLC purchased a new stake in shares of The Descartes Systems Group in the 2nd quarter valued at approximately $181,742,000. The Manufacturers Life Insurance Company purchased a new position in shares of The Descartes Systems Group during the 2nd quarter worth approximately $141,403,000. Norges Bank purchased a new position in shares of The Descartes Systems Group during the 4th quarter worth approximately $100,405,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in The Descartes Systems Group in the 2nd quarter valued at approximately $58,755,000. Finally, Morgan Stanley increased its holdings in The Descartes Systems Group by 97.2% in the 4th quarter. Morgan Stanley now owns 1,584,393 shares of the technology company’s stock valued at $138,888,000 after purchasing an additional 780,857 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.
The Descartes Systems Group Trading Up 4.1%
The Descartes Systems Group stock opened at $80.66 on Friday. The Descartes Systems Group Inc. has a twelve month low of $62.56 and a twelve month high of $109.00. The stock’s fifty day simple moving average is $73.73 and its 200-day simple moving average is $71.70. The firm has a market capitalization of $6.91 billion, a P/E ratio of 40.33 and a beta of 0.62.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on DSGX shares. Weiss Ratings raised The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 21st. Loop Capital reaffirmed a “buy” rating and issued a $96.00 price objective on shares of The Descartes Systems Group in a research note on Thursday, June 4th. Raymond James Financial cut their price objective on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. National Bank Financial set a $95.00 target price on The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Monday, July 20th. Finally, Canadian Imperial Bank of Commerce raised their target price on The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and an average price target of $102.54.
Read Our Latest Analysis on DSGX
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.
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