Granite Investment Partners LLC increased its stake in Descartes Systems Group Inc (NASDAQ:DSGX) (TSE:DSG) by 4.0% in the third quarter, HoldingsChannel reports. The firm owned 438,484 shares of the technology company’s stock after acquiring an additional 16,962 shares during the quarter. Granite Investment Partners LLC’s holdings in Descartes Systems Group were worth $14,865,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in DSGX. EAM Global Investors LLC bought a new stake in shares of Descartes Systems Group in the third quarter worth $2,278,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Descartes Systems Group in the third quarter worth $233,000. Toronto Dominion Bank increased its stake in shares of Descartes Systems Group by 5.4% in the third quarter. Toronto Dominion Bank now owns 51,098 shares of the technology company’s stock worth $1,734,000 after buying an additional 2,597 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Descartes Systems Group by 24.8% in the third quarter. American Century Companies Inc. now owns 321,577 shares of the technology company’s stock worth $10,907,000 after buying an additional 63,860 shares during the last quarter. Finally, Signition LP bought a new stake in shares of Descartes Systems Group in the third quarter worth $485,000. Institutional investors and hedge funds own 80.02% of the company’s stock.

A number of equities analysts have commented on DSGX shares. BidaskClub downgraded shares of Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Saturday, August 18th. Zacks Investment Research downgraded shares of Descartes Systems Group from a “hold” rating to a “sell” rating in a report on Friday, September 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $34.17.

Descartes Systems Group stock opened at $28.80 on Monday. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 82.29 and a beta of 0.50. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.10 and a quick ratio of 1.10. Descartes Systems Group Inc has a 12 month low of $24.85 and a 12 month high of $35.87.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, September 5th. The technology company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $67.10 million during the quarter, compared to the consensus estimate of $67.70 million. Descartes Systems Group had a net margin of 10.92% and a return on equity of 5.66%. The firm’s revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 earnings per share. On average, analysts anticipate that Descartes Systems Group Inc will post 0.43 earnings per share for the current fiscal year.

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Descartes Systems Group Profile

The Descartes Systems Group Inc provides federated network and logistics technology solutions worldwide. Its Logistics Application Suite offers a range of modular, cloud-based, and interoperable Web and wireless logistics management applications. The company's Logistics Application Suite offers solutions, such as route planning and execution, mobile applications, and telematics and compliance; transportation management solutions comprising carrier compliance and rate management, freight audit and settlement, dock scheduling and yard management, pool distribution, transportation planning and execution, and logistics flow control, as well as visibility, tracking, and performance management; and global logistics network services, such as document management, community, and connectivity services.

See Also: What is Liquidity?

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Institutional Ownership by Quarter for Descartes Systems Group (NASDAQ:DSGX)

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