OMERS ADMINISTRATION Corp Purchases Shares of 8,100 The Descartes Systems Group Inc. $DSGX

OMERS ADMINISTRATION Corp purchased a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,100 shares of the technology company’s stock, valued at approximately $578,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DSGX. Quarry LP bought a new position in shares of The Descartes Systems Group during the 3rd quarter valued at about $27,000. Danske Bank A S bought a new stake in The Descartes Systems Group in the 3rd quarter worth approximately $34,000. Measured Wealth Private Client Group LLC bought a new stake in The Descartes Systems Group in the 3rd quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd lifted its position in The Descartes Systems Group by 267.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock worth $52,000 after buying an additional 401 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in The Descartes Systems Group by 124.7% in the first quarter. Parallel Advisors LLC now owns 755 shares of the technology company’s stock worth $54,000 after buying an additional 419 shares in the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Trading Up 0.8%

Shares of NASDAQ:DSGX opened at $75.16 on Friday. The company has a 50-day moving average price of $72.06 and a 200-day moving average price of $72.00. The company has a market cap of $6.44 billion, a price-to-earnings ratio of 37.58 and a beta of 0.64. The Descartes Systems Group Inc. has a 12 month low of $62.56 and a 12 month high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.03. The company had revenue of $166.96 million for the quarter, compared to analysts’ expectations of $193.57 million. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The Descartes Systems Group’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. As a group, research analysts forecast that The Descartes Systems Group Inc. will post 2.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DSGX. Rothschild & Co Redburn upgraded shares of The Descartes Systems Group from a “neutral” rating to a “buy” rating and reduced their price target for the company from $100.00 to $90.00 in a research report on Thursday, April 16th. Canadian Imperial Bank of Commerce boosted their price objective on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a report on Thursday, June 4th. Loop Capital reaffirmed a “buy” rating and issued a $96.00 price objective on shares of The Descartes Systems Group in a research note on Thursday, June 4th. Weiss Ratings raised shares of The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 21st. Finally, National Bank Financial set a $95.00 target price on shares of The Descartes Systems Group and gave the company an “outperform” rating in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $102.54.

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.