Louisbourg Investments Inc. Increases Holdings in The Descartes Systems Group Inc. $DSGX

Louisbourg Investments Inc. raised its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 10.9% in the 1st quarter, HoldingsChannel reports. The fund owned 79,704 shares of the technology company’s stock after buying an additional 7,841 shares during the quarter. Louisbourg Investments Inc.’s holdings in The Descartes Systems Group were worth $5,697,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Quarry LP acquired a new stake in shares of The Descartes Systems Group during the 3rd quarter worth about $27,000. Danske Bank A S acquired a new position in The Descartes Systems Group in the third quarter valued at approximately $34,000. Measured Wealth Private Client Group LLC purchased a new position in The Descartes Systems Group in the third quarter valued at approximately $40,000. Caitong International Asset Management Co. Ltd increased its stake in The Descartes Systems Group by 267.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock valued at $52,000 after purchasing an additional 401 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its holdings in The Descartes Systems Group by 269.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 779 shares of the technology company’s stock worth $68,000 after purchasing an additional 568 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Up 6.2%

DSGX opened at $70.53 on Friday. The business has a 50 day moving average price of $71.88 and a two-hundred day moving average price of $74.92. The company has a market cap of $6.04 billion, a PE ratio of 35.27 and a beta of 0.64. The Descartes Systems Group Inc. has a 52 week low of $62.56 and a 52 week high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data 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 Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The company had revenue of $166.96 million during the quarter, compared to analysts’ expectations of $193.57 million. During the same period last year, the firm earned $0.41 EPS. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. As a group, sell-side analysts expect that The Descartes Systems Group Inc. will post 2.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DSGX. Loop Capital restated a “buy” rating and set a $96.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, June 4th. Raymond James Financial dropped their target price 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. Weiss Ratings lowered shares of The Descartes Systems Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, April 9th. Canaccord Genuity Group cut their price target on shares of The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating on the stock in a research note on Thursday, March 12th. Finally, BMO Capital Markets reduced their price target on shares of The Descartes Systems Group from $95.00 to $82.00 and set a “market perform” rating for the company in a research report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.17.

About The Descartes Systems Group

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.