First Trust Direct Indexing L.P. Purchases Shares of 2,332 The Descartes Systems Group Inc. (NASDAQ:DSGX)

First Trust Direct Indexing L.P. acquired a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,332 shares of the technology company’s stock, valued at approximately $240,000.

Several other large investors have also made changes to their positions in DSGX. Central Pacific Bank Trust Division acquired a new stake in The Descartes Systems Group in the 1st quarter valued at $28,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of The Descartes Systems Group by 703.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock valued at $45,000 after buying an additional 429 shares during the period. Intact Investment Management Inc. acquired a new position in The Descartes Systems Group during the 2nd quarter worth approximately $61,000. Blue Trust Inc. boosted its holdings in The Descartes Systems Group by 931.7% in the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock worth $63,000 after acquiring an additional 587 shares during the period. Finally, Andra AP fonden acquired a new stake in The Descartes Systems Group in the second quarter valued at approximately $77,000. 77.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. BMO Capital Markets upped their target price on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research note on Thursday, September 5th. Barclays upped their price objective on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the company an “underweight” rating in a research report on Thursday, September 5th. National Bank Financial upgraded The Descartes Systems Group to a “strong-buy” rating in a research note on Wednesday, September 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price target on shares of The Descartes Systems Group in a report on Thursday, September 5th. Finally, National Bankshares set a $125.00 price objective on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $106.17.

The Descartes Systems Group Price Performance

The Descartes Systems Group stock opened at $107.75 on Wednesday. The company has a market cap of $9.21 billion, a PE ratio of 72.80 and a beta of 0.97. The Descartes Systems Group Inc. has a 12 month low of $72.87 and a 12 month high of $108.77. The company has a fifty day moving average price of $102.48 and a two-hundred day moving average price of $98.98.

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 analysts’ consensus estimates of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The business had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. During the same period in the prior year, the company earned $0.32 EPS. The Descartes Systems Group’s quarterly revenue was up 14.0% on a year-over-year basis. Equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current 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.