Riverbridge Partners LLC grew its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX – Free Report) (TSE:DSG) by 6.8% during the third quarter, Holdings Channel reports. The institutional investor owned 310,952 shares of the technology company’s stock after purchasing an additional 19,850 shares during the quarter. Riverbridge Partners LLC’s holdings in The Descartes Systems Group were worth $25,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Keybank National Association OH bought a new position in shares of The Descartes Systems Group during the 3rd quarter worth $535,000. Fulcrum Asset Management LLP purchased a new stake in The Descartes Systems Group in the 3rd quarter worth about $220,000. Summit Creek Advisors LLC bought a new stake in The Descartes Systems Group in the 3rd quarter valued at about $3,843,000. CenterBook Partners LP bought a new stake in The Descartes Systems Group in the 3rd quarter valued at about $583,000. Finally, Commonwealth Equity Services LLC bought a new stake in The Descartes Systems Group in the 3rd quarter valued at about $200,000. Institutional investors own 77.73% of the company’s stock.
The Descartes Systems Group Price Performance
The Descartes Systems Group stock opened at $95.08 on Wednesday. The Descartes Systems Group Inc. has a one year low of $62.56 and a one year high of $96.75. The business has a fifty day moving average price of $84.33 and a 200-day moving average price of $75.14. The firm has a market capitalization of $8.13 billion, a P/E ratio of 44.25 and a beta of 0.65.
The Descartes Systems Group (NASDAQ:DSGX – Get Free Report) (TSE:DSG) last announced its quarterly earnings results on Thursday, September 10th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The Descartes Systems Group had a return on equity of 11.66% and a net margin of 24.25%. The company had revenue of $198.12 million during the quarter, compared to analysts’ expectations of $197.54 million. During the same period in the previous year, the business earned $0.43 earnings per share. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. Sell-side analysts expect that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
DSGX has been the topic of several recent research reports. Scotia upped their price objective on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the company a “sector outperform” rating in a report on Friday, September 11th. Scotiabank lifted their target price on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the stock a “sector outperform” rating in a research note on Friday, September 11th. Royal Bank Of Canada set a $125.00 target price on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Friday, September 4th. Loop Capital reissued a “buy” rating and issued a $96.00 price target on shares of The Descartes Systems Group in a research report on Thursday, October 8th. Finally, National Bank Financial upped their price target on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, September 14th. One research 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. Based on data from MarketBeat, The Descartes Systems Group has an average rating of “Moderate Buy” and an average price target of $100.33.
Check Out Our Latest Analysis on DSGX
The Descartes Systems Group Company Profile
The Descartes Systems Group Inc. provides cloud-based software and network services for businesses involved in logistics and supply chain operations. Its solutions help customers plan, manage and track the movement of goods, information and related resources. The company’s offerings include transportation and route planning, shipment visibility, freight management, customs and trade compliance, and ecommerce fulfillment tools. These services are designed to connect businesses and logistics providers and support the coordination of shipments across supply chains.
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