OMERS ADMINISTRATION Corp Acquires New Stake in The Descartes Systems Group Inc. $DSGX

OMERS ADMINISTRATION Corp bought a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 59,400 shares of the technology company’s stock, valued at approximately $4,113,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Quarry LP bought a new position in The Descartes Systems Group in the 3rd quarter worth about $27,000. Trust Co. of Vermont bought a new stake in shares of The Descartes Systems Group during the 2nd quarter valued at about $33,000. Danske Bank A S purchased a new position in shares of The Descartes Systems Group during the third quarter worth about $34,000. Keating Financial Advisory Services Inc. purchased a new position in shares of The Descartes Systems Group during the second quarter worth about $38,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of The Descartes Systems Group by 57.5% during the first quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company’s stock worth $39,000 after purchasing an additional 200 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on DSGX shares. Weiss Ratings raised shares of The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 21st. National Bank Financial set a $95.00 price target on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Monday, July 20th. Loop Capital reissued a “buy” rating and issued a $96.00 price target on shares of The Descartes Systems Group in a report on Thursday, June 4th. Raymond James Financial lowered their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. Finally, Canadian Imperial Bank of Commerce lifted their price objective on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $102.54.

The Descartes Systems Group Trading Down 1.2%

Shares of The Descartes Systems Group stock opened at $77.52 on Wednesday. The firm has a market capitalization of $6.64 billion, a PE ratio of 38.76 and a beta of 0.62. The Descartes Systems Group Inc. has a 12 month low of $62.56 and a 12 month high of $109.00. The business’s 50-day moving average price is $73.32 and its 200-day moving average price is $71.53.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The company had revenue of $166.96 million during the quarter, compared to the consensus estimate of $193.57 million. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The Descartes Systems Group’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS. As a group, analysts predict that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current fiscal year.

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.