OMERS ADMINISTRATION Corp Buys New Position in The Descartes Systems Group Inc. $DSGX

OMERS ADMINISTRATION Corp purchased a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the first quarter, Holdings Channel.com reports. The fund purchased 8,100 shares of the technology company’s stock, valued at approximately $578,000.

Other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its holdings in The Descartes Systems Group by 35.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company’s stock worth $38,027,000 after purchasing an additional 98,054 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of The Descartes Systems Group by 1.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 54,618 shares of the technology company’s stock valued at $5,507,000 after purchasing an additional 660 shares in the last quarter. Amundi boosted its stake in shares of The Descartes Systems Group by 74.5% during the 2nd quarter. Amundi now owns 82,319 shares of the technology company’s stock valued at $8,360,000 after purchasing an additional 35,132 shares in the last quarter. Federated Hermes Inc. increased its position in shares of The Descartes Systems Group by 25.6% during the second quarter. Federated Hermes Inc. now owns 1,246 shares of the technology company’s stock valued at $127,000 after buying an additional 254 shares during the period. Finally, AXA S.A. increased its position in shares of The Descartes Systems Group by 2.0% during the second quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock valued at $681,000 after buying an additional 130 shares during the period. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $75.16 on Friday. The stock has a market cap of $6.44 billion, a PE ratio of 37.58 and a beta of 0.64. The Descartes Systems Group Inc. has a fifty-two week low of $62.56 and a fifty-two week high of $109.00. The firm’s 50-day simple moving average is $72.06 and its two-hundred day simple moving average is $72.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The business had revenue of $166.96 million during the quarter, compared to the consensus estimate of $193.57 million. During the same quarter last year, the firm earned $0.41 earnings per share. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. Equities research analysts predict that The Descartes Systems Group Inc. will post 2.37 EPS for the current year.

Wall Street Analysts Forecast Growth

DSGX has been the subject of a number of research reports. Raymond James Financial decreased their price target on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. National Bank Financial set a $95.00 price objective on The Descartes Systems Group and gave the company an “outperform” rating in a research report on Monday, July 20th. Canadian Imperial Bank of Commerce upped their target price on The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a report on Thursday, June 4th. Rothschild & Co Redburn raised The Descartes Systems Group from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $100.00 to $90.00 in a research report on Thursday, April 16th. Finally, Loop Capital restated a “buy” rating and issued a $96.00 target price on shares of The Descartes Systems Group in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.54.

The Descartes Systems Group 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.