Toronto Dominion Bank Purchases 15,830 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Toronto Dominion Bank lifted its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 16.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,599 shares of the technology company’s stock after purchasing an additional 15,830 shares during the quarter. Toronto Dominion Bank’s holdings in The Descartes Systems Group were worth $10,710,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Montreal Can lifted its holdings in The Descartes Systems Group by 1.4% during the second quarter. Bank of Montreal Can now owns 1,545,027 shares of the technology company’s stock worth $147,434,000 after acquiring an additional 21,105 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of The Descartes Systems Group by 0.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 236,261 shares of the technology company’s stock valued at $22,880,000 after purchasing an additional 2,076 shares in the last quarter. Mount Yale Investment Advisors LLC acquired a new position in shares of The Descartes Systems Group in the 2nd quarter valued at approximately $797,000. Sei Investments Co. grew its position in shares of The Descartes Systems Group by 18.8% in the 2nd quarter. Sei Investments Co. now owns 222,489 shares of the technology company’s stock valued at $21,546,000 after purchasing an additional 35,208 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in The Descartes Systems Group by 59.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 148,151 shares of the technology company’s stock worth $14,351,000 after purchasing an additional 55,100 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

The Descartes Systems Group stock opened at $102.18 on Friday. The Descartes Systems Group Inc. has a fifty-two week low of $69.59 and a fifty-two week high of $105.12. The firm has a market capitalization of $8.72 billion, a PE ratio of 72.99 and a beta of 0.98. The company’s 50-day moving average is $99.17 and its 200-day moving average is $96.35.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The business had revenue of $163.43 million during the quarter, compared to the consensus estimate of $160.17 million. During the same quarter in the prior year, the company earned $0.32 EPS. The Descartes Systems Group’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, analysts expect that The Descartes Systems Group Inc. will post 1.67 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Raymond James upped their price target on shares of The Descartes Systems Group from $94.00 to $96.00 and gave the company a “market perform” rating in a report on Friday, May 31st. National Bankshares set a $125.00 target price on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Thursday. BMO Capital Markets boosted their price target on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a report on Thursday, September 5th. Scotiabank increased their price objective on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “sector outperform” rating in a report on Friday, May 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price target on shares of The Descartes Systems Group in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $104.83.

About The Descartes Systems Group

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.