Ninety One UK Ltd Acquires 626,057 Shares of The Descartes Systems Group Inc. $DSGX

Ninety One UK Ltd acquired a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the third quarter, Holdings Channel.com reports. The firm acquired 626,057 shares of the technology company’s stock, valued at approximately $50,764,000.

A number of other hedge funds have also bought and sold shares of the company. Jupiter Topco LLC bought a new stake in The Descartes Systems Group in the second quarter worth about $181,742,000. The Manufacturers Life Insurance Company purchased a new position in shares of The Descartes Systems Group during the second quarter valued at approximately $141,403,000. Wellington Management Group LLP boosted its position in shares of The Descartes Systems Group by 640.7% during the second quarter. Wellington Management Group LLP now owns 1,363,426 shares of the technology company’s stock valued at $94,402,000 after buying an additional 1,179,345 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of The Descartes Systems Group during the second quarter valued at approximately $58,755,000. Finally, Primecap Management Co. CA bought a new position in shares of The Descartes Systems Group during the second quarter valued at approximately $50,460,000. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Trading Up 3.7%

Shares of The Descartes Systems Group stock traded up $3.20 during trading on Thursday, hitting $88.54. 394,416 shares of the stock traded hands, compared to its average volume of 615,542. The firm has a market cap of $7.57 billion, a P/E ratio of 41.35 and a beta of 0.65. The Descartes Systems Group Inc. has a 52-week low of $62.56 and a 52-week high of $97.71. The stock’s fifty day simple moving average is $79.08 and its 200 day simple moving average is $74.30.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Thursday, September 10th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The Descartes Systems Group had a return on equity of 11.66% and a net margin of 24.25%. The firm had revenue of $198.12 million during the quarter, compared to the consensus estimate of $197.54 million. During the same period in the previous year, the company posted $0.43 earnings per share. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, equities analysts expect that The Descartes Systems Group Inc. will post 2.37 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Scotiabank increased their price target on The Descartes Systems Group from $95.00 to $98.00 and gave the stock a “sector outperform” rating in a report on Friday, September 11th. Royal Bank Of Canada set a $125.00 price target on The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Friday, September 4th. National Bank Financial boosted their price objective on The Descartes Systems Group from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, September 14th. Loop Capital reaffirmed a “buy” rating and issued a $96.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, October 8th. Finally, Scotia upped their price objective on The Descartes Systems Group from $95.00 to $98.00 and gave the company a “sector outperform” rating in a research report on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, The Descartes Systems Group has an average rating of “Moderate Buy” and an average price target of $100.33.

About The Descartes Systems Group

The Descartes Systems Group Inc is a Canadian technology company that provides cloud-based logistics and supply chain management solutions. Its Global Logistics Network connects manufacturers, retailers, distributors, logistics service providers, carriers, and other trading partners to support the exchange of information and the coordination of shipments.

The company’s products and services address a range of transportation and trade-management needs, including transportation management, route planning and optimization, delivery and last-mile management, shipment visibility, freight forwarding, customs and regulatory compliance, electronic data interchange, and telematics.