Praesidium Investment Management Company LLC Takes Position in The Descartes Systems Group Inc. $DSGX

Praesidium Investment Management Company LLC bought a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 169,619 shares of the technology company’s stock, valued at approximately $11,744,420,000. The Descartes Systems Group makes up 5.5% of Praesidium Investment Management Company LLC’s portfolio, making the stock its 9th biggest position. Praesidium Investment Management Company LLC owned about 0.20% of The Descartes Systems Group as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its stake in shares of The Descartes Systems Group by 35.1% during the first 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 raised its holdings 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 buying an additional 660 shares during the period. Amundi raised its holdings 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 buying an additional 35,132 shares during the period. Federated Hermes Inc. lifted its position in The Descartes Systems Group by 25.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,246 shares of the technology company’s stock worth $127,000 after acquiring an additional 254 shares in the last quarter. Finally, AXA S.A. lifted its position in The Descartes Systems Group by 2.0% during the 2nd quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock worth $681,000 after acquiring an additional 130 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DSGX has been the subject of several recent research reports. National Bank Financial set a $95.00 price objective on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research report on Monday, July 20th. Canadian Imperial Bank of Commerce lifted their price target on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research note on Thursday, June 4th. Raymond James Financial decreased their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Weiss Ratings upgraded The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 21st. Finally, Loop Capital reaffirmed a “buy” rating and set a $96.00 target price on shares of The Descartes Systems Group in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $102.54.

The Descartes Systems Group Stock Down 0.0%

Shares of NASDAQ:DSGX opened at $77.49 on Thursday. 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 has a 50-day simple moving average of $73.46 and a 200 day simple moving average of $71.60. The company has a market cap of $6.64 billion, a PE ratio of 38.74 and a beta of 0.62.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $166.96 million for the quarter, compared to analyst estimates of $193.57 million. During the same quarter in the prior year, the business earned $0.41 earnings per share. The Descartes Systems Group’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, research analysts forecast that The Descartes Systems Group Inc. will post 2.35 EPS 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.