First Trust Direct Indexing L.P. Invests $240,000 in The Descartes Systems Group Inc. (NASDAQ:DSGX)

First Trust Direct Indexing L.P. acquired a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 2,332 shares of the technology company’s stock, valued at approximately $240,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in shares of The Descartes Systems Group by 3.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company’s stock valued at $695,864,000 after purchasing an additional 278,796 shares during the period. Vanguard Group Inc. grew its holdings in The Descartes Systems Group by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company’s stock worth $287,188,000 after buying an additional 40,897 shares in the last quarter. Conestoga Capital Advisors LLC grew its holdings in The Descartes Systems Group by 2.2% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 3,116,109 shares of the technology company’s stock worth $301,764,000 after buying an additional 66,645 shares in the last quarter. Fiera Capital Corp increased its position in The Descartes Systems Group by 3.3% in the 2nd quarter. Fiera Capital Corp now owns 2,558,831 shares of the technology company’s stock valued at $248,024,000 after acquiring an additional 81,263 shares during the period. Finally, Mackenzie Financial Corp raised its stake in The Descartes Systems Group by 4.5% during the 2nd quarter. Mackenzie Financial Corp now owns 2,134,228 shares of the technology company’s stock valued at $206,807,000 after acquiring an additional 91,301 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Up 0.4 %

Shares of DSGX opened at $107.75 on Wednesday. The Descartes Systems Group Inc. has a 12 month low of $72.87 and a 12 month high of $108.77. The company’s fifty day moving average is $102.48 and its 200-day moving average is $98.98. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 72.80 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The firm had revenue of $163.43 million during the quarter, compared to the consensus estimate of $160.17 million. The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 EPS. As a group, research analysts predict that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DSGX has been the subject of several recent analyst reports. BMO Capital Markets increased their price target on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a research note on Thursday, September 5th. National Bank Financial upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. Royal Bank of Canada restated 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. Barclays upped their price target on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the stock an “underweight” rating in a research note on Thursday, September 5th. Finally, Scotiabank raised their price objective on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $106.17.

The Descartes Systems Group Profile

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.