Versor Investments LP Takes Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Versor Investments LP purchased a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,698 shares of the technology company’s stock, valued at approximately $278,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Intact Investment Management Inc. acquired a new position in The Descartes Systems Group during the second quarter worth $61,000. Blue Trust Inc. boosted its holdings in The Descartes Systems Group by 931.7% during the third quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock worth $63,000 after purchasing an additional 587 shares during the last quarter. Andra AP fonden acquired a new position in The Descartes Systems Group during the second quarter worth $77,000. Park Place Capital Corp boosted its holdings in The Descartes Systems Group by 31.6% during the second quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock worth $86,000 after purchasing an additional 212 shares during the last quarter. Finally, UniSuper Management Pty Ltd boosted its holdings in The Descartes Systems Group by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 1,200 shares of the technology company’s stock worth $110,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on DSGX shares. BMO Capital Markets increased their target price on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a report on Thursday, September 5th. StockNews.com upgraded shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a report on Friday. National Bankshares set a $125.00 price target on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research note on Thursday, September 26th. Barclays upgraded shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $88.00 to $125.00 in a research note on Friday. Finally, Canaccord Genuity Group set a $108.00 price target on shares of The Descartes Systems Group and gave the company a “buy” rating in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group presently has an average rating of “Moderate Buy” and a consensus target price of $109.25.

The Descartes Systems Group Price Performance

Shares of DSGX opened at $111.41 on Friday. The firm has a market capitalization of $9.52 billion, a PE ratio of 75.28 and a beta of 0.97. The company’s 50-day moving average is $104.91 and its 200-day moving average is $100.02. The Descartes Systems Group Inc. has a fifty-two week low of $79.21 and a fifty-two week high of $117.24.

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 Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The business had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. During the same period in the prior year, the business posted $0.32 earnings per share. The Descartes Systems Group’s revenue was up 14.0% compared to the same quarter last year. Analysts predict that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current fiscal year.

The Descartes Systems Group Company 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.