Impact Investors Inc Invests $488,000 in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Impact Investors Inc purchased a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the fourth quarter, HoldingsChannel reports. The fund purchased 4,296 shares of the technology company’s stock, valued at approximately $488,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in The Descartes Systems Group by 7.9% during the 4th quarter. Bank of New York Mellon Corp now owns 125,019 shares of the technology company’s stock worth $14,202,000 after buying an additional 9,180 shares during the last quarter. Alberta Investment Management Corp grew its position in shares of The Descartes Systems Group by 21.3% during the 4th quarter. Alberta Investment Management Corp now owns 103,687 shares of the technology company’s stock valued at $11,780,000 after buying an additional 18,200 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in The Descartes Systems Group by 1,318.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,135 shares of the technology company’s stock worth $129,000 after acquiring an additional 1,055 shares during the last quarter. Allworth Financial LP boosted its stake in The Descartes Systems Group by 39.8% in the fourth quarter. Allworth Financial LP now owns 639 shares of the technology company’s stock valued at $77,000 after acquiring an additional 182 shares during the period. Finally, Vista Finance LLC bought a new position in shares of The Descartes Systems Group during the fourth quarter valued at approximately $331,000. 77.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays upgraded The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $88.00 to $125.00 in a research report on Friday, November 15th. TD Securities lifted their price objective on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. StockNews.com lowered shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Stephens raised The Descartes Systems Group to a “strong-buy” rating in a research note on Saturday, February 1st. Finally, Scotiabank raised their price target on The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $117.92.

The Descartes Systems Group Price Performance

NASDAQ DSGX opened at $111.13 on Wednesday. The company has a market capitalization of $9.51 billion, a P/E ratio of 69.89 and a beta of 0.99. The Descartes Systems Group Inc. has a 12 month low of $84.83 and a 12 month high of $124.31. The company’s 50 day simple moving average is $115.35 and its 200 day simple moving average is $109.72.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Tuesday, December 3rd. The technology company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. During the same period in the prior year, the business earned $0.31 EPS. On average, analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

About The Descartes Systems Group

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.