The Descartes Systems Group Inc. $DSGX Holdings Increased by Cidel Asset Management Inc.

Cidel Asset Management Inc. lifted its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 17.7% in the third quarter, HoldingsChannel reports. The firm owned 138,556 shares of the technology company’s stock after acquiring an additional 20,799 shares during the quarter. Cidel Asset Management Inc.’s holdings in The Descartes Systems Group were worth $11,235,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of DSGX. Janus Henderson Group PLC increased its holdings in The Descartes Systems Group by 4.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,574,468 shares of the technology company’s stock worth $184,127,000 after purchasing an additional 100,937 shares during the period. Jupiter Topco LLC purchased a new position in shares of The Descartes Systems Group in the 2nd quarter valued at about $181,742,000. The Manufacturers Life Insurance Company purchased a new position in shares of The Descartes Systems Group in the 2nd quarter valued at about $141,403,000. Wellington Management Group LLP grew its position in shares of The Descartes Systems Group by 640.7% during the second quarter. Wellington Management Group LLP now owns 1,363,426 shares of the technology company’s stock worth $94,402,000 after buying an additional 1,179,345 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of The Descartes Systems Group during the second quarter worth about $58,755,000. 77.73% of the stock is owned by institutional investors and hedge funds.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX opened at $90.62 on Friday. The company’s fifty day moving average price is $82.31 and its 200 day moving average price is $74.86. The Descartes Systems Group Inc. has a 12 month low of $62.56 and a 12 month high of $95.41. The firm has a market capitalization of $7.75 billion, a P/E ratio of 42.35 and a beta of 0.65.

The Descartes Systems Group (NASDAQ:DSGX) (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 analysts’ consensus estimates of $0.57. The Descartes Systems Group had a net margin of 24.25% and a return on equity of 11.66%. The firm 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 company earned $0.43 earnings per share. The Descartes Systems Group’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts anticipate that The Descartes Systems Group Inc. will post 2.37 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DSGX. Scotia upped 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 price target on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Friday, September 4th. National Bank Financial boosted their price target on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, September 14th. Scotiabank boosted their price target on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the stock a “sector outperform” rating in a report on Friday, September 11th. Finally, Loop Capital reissued a “buy” rating and issued a $96.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and a consensus price target of $100.33.

About The Descartes Systems Group

The Descartes Systems Group Inc is a technology company that provides cloud-based logistics and supply chain management solutions. Its software helps businesses manage and automate transportation, logistics, trade compliance, communications and related processes across complex supply chains.

Descartes’ products and services include shipment management, transportation routing and scheduling, fleet and telematics applications, customs and regulatory compliance, electronic invoicing, supply chain visibility, order and inventory management, and logistics messaging.