Ninety One North America Inc. Sells 27,536 Shares of The Descartes Systems Group Inc. $DSGX

Ninety One North America Inc. decreased its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 22.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 95,269 shares of the technology company’s stock after selling 27,536 shares during the period. Ninety One North America Inc. owned about 0.11% of The Descartes Systems Group worth $7,725,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Jupiter Topco LLC purchased a new position in The Descartes Systems Group during the second quarter worth approximately $181,742,000. Janus Henderson Group PLC increased its position in shares of The Descartes Systems Group by 4.1% in the first quarter. Janus Henderson Group PLC now owns 2,574,468 shares of the technology company’s stock valued at $184,127,000 after buying an additional 100,937 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of The Descartes Systems Group in the second quarter valued at approximately $141,403,000. Wellington Management Group LLP raised its stake in shares of The Descartes Systems Group by 640.7% during the 2nd quarter. Wellington Management Group LLP now owns 1,363,426 shares of the technology company’s stock worth $94,402,000 after buying an additional 1,179,345 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of The Descartes Systems Group during the 2nd quarter worth approximately $58,755,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX traded up $3.12 during trading on Thursday, reaching $88.46. The stock had a trading volume of 391,494 shares, compared to its average volume of 615,453. The business has a fifty day moving average price of $79.08 and a 200-day moving average price of $74.30. The stock has a market cap of $7.57 billion, a PE ratio of 41.33 and a beta of 0.65. The Descartes Systems Group Inc. has a 1-year low of $62.56 and a 1-year high of $97.71.

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

Wall Street Analyst Weigh In

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

The Descartes Systems Group Profile

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.