OMERS ADMINISTRATION Corp Takes $4.11 Million Position in The Descartes Systems Group Inc. $DSGX

OMERS ADMINISTRATION Corp bought a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 59,400 shares of the technology company’s stock, valued at approximately $4,113,000. OMERS ADMINISTRATION Corp owned 0.07% of The Descartes Systems Group as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of DSGX. Quarry LP purchased a new position in The Descartes Systems Group in the third quarter valued at approximately $27,000. Trust Co. of Vermont bought a new stake in shares of The Descartes Systems Group in the second quarter valued at $33,000. Danske Bank A S purchased a new position in shares of The Descartes Systems Group during the 3rd quarter valued at $34,000. Keating Financial Advisory Services Inc. bought a new position in shares of The Descartes Systems Group during the 2nd quarter worth $38,000. Finally, EverSource Wealth Advisors LLC increased its holdings in The Descartes Systems Group by 57.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company’s stock worth $39,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Down 1.2%

Shares of NASDAQ DSGX opened at $77.52 on Wednesday. The Descartes Systems Group Inc. has a 52 week low of $62.56 and a 52 week high of $109.00. The business has a 50-day simple moving average of $73.32 and a two-hundred day simple moving average of $71.53. The company has a market cap of $6.64 billion, a P/E ratio of 38.76 and a beta of 0.62.

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 for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The business had revenue of $166.96 million during the quarter, compared to analyst estimates of $193.57 million. During the same quarter in the previous year, the firm earned $0.41 EPS. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. Equities research analysts anticipate that The Descartes Systems Group Inc. will post 2.37 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DSGX. Weiss Ratings upgraded The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 21st. Loop Capital reiterated a “buy” rating and issued a $96.00 target price on shares of The Descartes Systems Group in a research note on Thursday, June 4th. Canadian Imperial Bank of Commerce boosted their price target on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a research report on Thursday, June 4th. Raymond James Financial lowered 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. Finally, National Bank Financial set a $95.00 price objective on shares of The Descartes Systems Group and gave the stock 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 assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.