Northwest & Ethical Investments L.P. Invests $2.40 Million in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Northwest & Ethical Investments L.P. acquired a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 23,361 shares of the technology company’s stock, valued at approximately $2,404,000.

Several other institutional investors have also made changes to their positions in DSGX. Park Place Capital Corp increased its position in shares of The Descartes Systems Group by 31.6% in the second quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock worth $86,000 after acquiring an additional 212 shares in the last quarter. First Hawaiian Bank purchased a new position in shares of The Descartes Systems Group in the second quarter worth approximately $1,612,000. Canandaigua National Bank & Trust Co. purchased a new position in shares of The Descartes Systems Group in the second quarter worth approximately $295,000. Envestnet Portfolio Solutions Inc. increased its position in shares of The Descartes Systems Group by 52.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 10,474 shares of the technology company’s stock worth $1,014,000 after acquiring an additional 3,605 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in The Descartes Systems Group by 4.3% during the second quarter. Assenagon Asset Management S.A. now owns 3,832 shares of the technology company’s stock valued at $371,000 after purchasing an additional 158 shares in the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on DSGX shares. Barclays raised shares of 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. StockNews.com raised shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. National Bank Financial raised shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. BMO Capital Markets boosted their price objective on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research report on Thursday, September 5th. Finally, Royal Bank of Canada boosted their price objective 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. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group currently has an average rating of “Moderate Buy” and an average target price of $110.75.

The Descartes Systems Group Trading Up 0.5 %

Shares of The Descartes Systems Group stock opened at $116.87 on Friday. The firm has a fifty day simple moving average of $108.20 and a 200-day simple moving average of $101.36. The Descartes Systems Group Inc. has a 1-year low of $79.21 and a 1-year high of $118.49. The stock has a market capitalization of $9.99 billion, a price-to-earnings ratio of 78.97 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The firm had revenue of $163.43 million during the quarter, compared to analyst estimates of $160.17 million. During the same quarter in the previous year, the firm posted $0.32 earnings per share. The Descartes Systems Group’s quarterly revenue was up 14.0% compared to the same quarter last year. As a group, research analysts predict that The Descartes Systems Group Inc. will post 1.69 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.