Teacher Retirement System of Texas Invests $8.53 Million in The Descartes Systems Group Inc. $DSGX

Teacher Retirement System of Texas acquired a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 90,504 shares of the technology company’s stock, valued at approximately $8,528,000.

A number of other institutional investors also recently bought and sold shares of DSGX. Mather Group LLC. purchased a new stake in The Descartes Systems Group during the 3rd quarter worth approximately $28,000. SBI Securities Co. Ltd. raised its holdings in shares of The Descartes Systems Group by 77.0% in the second quarter. SBI Securities Co. Ltd. now owns 570 shares of the technology company’s stock worth $58,000 after buying an additional 248 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of The Descartes Systems Group by 24.8% during the third quarter. Versant Capital Management Inc now owns 660 shares of the technology company’s stock worth $62,000 after buying an additional 131 shares during the period. GAMMA Investing LLC grew its holdings in shares of The Descartes Systems Group by 23.2% during the second quarter. GAMMA Investing LLC now owns 622 shares of the technology company’s stock valued at $63,000 after buying an additional 117 shares during the last quarter. Finally, Employees Retirement System of Texas acquired a new position in shares of The Descartes Systems Group in the 2nd quarter valued at $68,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Barclays raised The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $106.00 to $105.00 in a research report on Monday, January 12th. TD Cowen reaffirmed a “buy” rating and set a $121.00 target price on shares of The Descartes Systems Group in a report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of The Descartes Systems Group in a research report on Monday, December 29th. Royal Bank Of Canada set a $126.00 price target on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Monday, December 1st. Finally, CIBC decreased their price objective on shares of The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $116.20.

The Descartes Systems Group Stock Down 0.2%

The Descartes Systems Group stock opened at $81.72 on Monday. The business’s 50-day moving average price is $86.47 and its 200 day moving average price is $94.20. The firm has a market cap of $7.03 billion, a price-to-earnings ratio of 46.17 and a beta of 0.74. The Descartes Systems Group Inc. has a 52 week low of $78.88 and a 52 week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The company had revenue of $186.78 million during the quarter, compared to the consensus estimate of $184.24 million. During the same period in the previous year, the company posted $0.42 earnings per share. The Descartes Systems Group’s revenue for the quarter was up 11.2% on a year-over-year basis. Equities analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

The Descartes Systems Group Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.