The Descartes Systems Group Inc. $DSGX Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 23.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 42,305 shares of the technology company’s stock after selling 13,250 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in The Descartes Systems Group were worth $3,027,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP bought a new position in shares of The Descartes Systems Group during the third quarter valued at approximately $27,000. Danske Bank A S bought a new stake in shares of The Descartes Systems Group in the 3rd quarter worth approximately $34,000. Measured Wealth Private Client Group LLC bought a new stake in shares of The Descartes Systems Group in the 3rd quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd boosted its position in The Descartes Systems Group by 267.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock valued at $52,000 after purchasing an additional 401 shares during the period. Finally, Parallel Advisors LLC boosted its position in The Descartes Systems Group by 124.7% during the 1st quarter. Parallel Advisors LLC now owns 755 shares of the technology company’s stock valued at $54,000 after purchasing an additional 419 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DSGX. Rothschild & Co Redburn raised The Descartes Systems Group from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $100.00 to $90.00 in a research report on Thursday, April 16th. Loop Capital reissued a “buy” rating and set a $96.00 price target on shares of The Descartes Systems Group in a report on Thursday, June 4th. Canadian Imperial Bank of Commerce upped their price target on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research report on Thursday, June 4th. Raymond James Financial dropped their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Finally, Weiss Ratings raised shares of The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company’s 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 $102.54.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX opened at $74.55 on Friday. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of 37.27 and a beta of 0.64. The Descartes Systems Group Inc. has a 1 year low of $62.56 and a 1 year high of $109.00. The business has a fifty day moving average of $71.99 and a 200-day moving average of $71.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The business had revenue of $166.96 million for the quarter, compared to analysts’ expectations of $193.57 million. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The company’s revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 earnings per share. On average, equities research analysts predict that The Descartes Systems Group Inc. will post 2.37 EPS for the current year.

The Descartes Systems Group Company 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.