Intech Investment Management LLC Purchases 3,134 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Intech Investment Management LLC grew its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 41.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 10,671 shares of the technology company’s stock after buying an additional 3,134 shares during the quarter. Intech Investment Management LLC’s holdings in The Descartes Systems Group were worth $1,099,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Intact Investment Management Inc. bought a new stake in The Descartes Systems Group during the 2nd quarter worth approximately $61,000. Blue Trust Inc. grew its holdings in shares of The Descartes Systems Group by 931.7% during the third quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock worth $63,000 after purchasing an additional 587 shares during the last quarter. Andra AP fonden acquired a new stake in shares of The Descartes Systems Group in the second quarter valued at $77,000. Park Place Capital Corp raised its holdings 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 valued at $86,000 after buying an additional 212 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in The Descartes Systems Group by 143.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,194 shares of the technology company’s stock worth $116,000 after buying an additional 704 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

Shares of DSGX stock opened at $116.27 on Thursday. The stock has a 50-day moving average of $107.32 and a 200-day moving average of $101.01. The Descartes Systems Group Inc. has a one year low of $79.21 and a one year high of $117.95. The stock has a market cap of $9.94 billion, a PE ratio of 79.12 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results 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 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 last year, the business posted $0.32 earnings per share. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. As a group, research analysts anticipate that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Scotiabank raised their price objective on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a research report on Thursday, October 24th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, September 5th. BMO Capital Markets upped their price objective on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a report on Thursday, September 5th. Barclays raised The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $88.00 to $125.00 in a research note on Friday, November 15th. Finally, National Bankshares set a $125.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Thursday, September 26th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $109.25.

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.