Investment Management Corp of Ontario Sells 300 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Investment Management Corp of Ontario lessened its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 7.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,782 shares of the technology company’s stock after selling 300 shares during the quarter. Investment Management Corp of Ontario’s holdings in The Descartes Systems Group were worth $389,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. William Blair Investment Management LLC acquired a new position in shares of The Descartes Systems Group during the 2nd quarter worth $20,608,000. Triasima Portfolio Management inc. increased its position in The Descartes Systems Group by 90.1% during the second quarter. Triasima Portfolio Management inc. now owns 253,849 shares of the technology company’s stock worth $24,584,000 after buying an additional 120,325 shares during the last quarter. Hantz Financial Services Inc. acquired a new position in The Descartes Systems Group during the second quarter worth $10,503,000. American Century Companies Inc. raised its holdings in The Descartes Systems Group by 65.4% during the second quarter. American Century Companies Inc. now owns 243,985 shares of the technology company’s stock valued at $23,640,000 after buying an additional 96,431 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of The Descartes Systems Group by 4.5% in the second quarter. Mackenzie Financial Corp now owns 2,134,228 shares of the technology company’s stock worth $206,807,000 after buying an additional 91,301 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Scotiabank raised their price objective on The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a research note on Wednesday. Royal Bank of Canada lifted their price target on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a research report on Friday, November 29th. Canaccord Genuity Group set a $108.00 price objective on shares of The Descartes Systems Group and gave the stock a “buy” rating in a report on Thursday, September 5th. BMO Capital Markets lifted their target price on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday. Finally, StockNews.com cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Monday, December 2nd. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $114.17.

The Descartes Systems Group Stock Performance

NASDAQ DSGX opened at $121.37 on Friday. The Descartes Systems Group Inc. has a twelve month low of $79.21 and a twelve month high of $122.22. The stock has a market cap of $10.37 billion, a PE ratio of 76.33 and a beta of 0.98. The firm has a 50-day simple moving average of $109.73 and a 200 day simple moving average of $102.10.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $163.43 million for the quarter, compared to analyst estimates of $160.17 million. The Descartes Systems Group had a return on equity of 10.82% and a net margin of 21.80%. The Descartes Systems Group’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 EPS. Research analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.