The Descartes Systems Group Inc. $DSGX Stake Boosted by Quantinno Capital Management LP

Quantinno Capital Management LP increased its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 106.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,341 shares of the technology company’s stock after purchasing an additional 20,808 shares during the period. Quantinno Capital Management LP’s holdings in The Descartes Systems Group were worth $2,887,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DSGX. AXA S.A. boosted its stake in The Descartes Systems Group by 2.0% during the 2nd quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock valued at $681,000 after purchasing an additional 130 shares during the period. Reynders McVeigh Capital Management LLC grew its stake in shares of The Descartes Systems Group by 0.3% in the third quarter. Reynders McVeigh Capital Management LLC now owns 55,260 shares of the technology company’s stock worth $5,207,000 after purchasing an additional 140 shares in the last quarter. Orion Porfolio Solutions LLC increased its holdings in shares of The Descartes Systems Group by 4.1% during the second quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company’s stock valued at $368,000 after purchasing an additional 143 shares during the period. Federated Hermes Inc. increased its holdings in shares of The Descartes Systems Group by 19.2% during the fourth quarter. Federated Hermes Inc. now owns 1,098 shares of the technology company’s stock valued at $96,000 after purchasing an additional 177 shares during the period. Finally, Ritholtz Wealth Management raised its stake in shares of The Descartes Systems Group by 3.9% during the fourth quarter. Ritholtz Wealth Management now owns 6,911 shares of the technology company’s stock valued at $606,000 after purchasing an additional 257 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

NASDAQ DSGX opened at $79.57 on Monday. The stock has a market capitalization of $6.82 billion, a P/E ratio of 39.78 and a beta of 0.62. The Descartes Systems Group Inc. has a 1 year low of $62.56 and a 1 year high of $109.00. The business’s fifty day moving average is $72.68 and its two-hundred day moving average is $71.53.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The company had revenue of $166.96 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 earnings per share. On average, research analysts forecast that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on DSGX. Raymond James Financial dropped their price target on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. National Bank Financial set a $95.00 price objective on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research note on Monday, July 20th. Weiss Ratings raised The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 21st. Rothschild & Co Redburn upgraded The Descartes Systems Group from a “neutral” rating to a “buy” rating and cut their target price for the stock from $100.00 to $90.00 in a research report on Thursday, April 16th. Finally, Loop Capital reiterated a “buy” rating and set a $96.00 price target on shares of The Descartes Systems Group in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $102.54.

About The Descartes Systems Group

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.