Toronto Dominion Bank raised its position in Descartes Systems Group Inc (NASDAQ:DSGX) (TSE:DSG) by 5.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,098 shares of the technology company’s stock after acquiring an additional 2,597 shares during the quarter. Toronto Dominion Bank’s holdings in Descartes Systems Group were worth $1,734,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Centaurus Financial Inc. increased its position in Descartes Systems Group by 13.5% in the second quarter. Centaurus Financial Inc. now owns 138,640 shares of the technology company’s stock worth $4,506,000 after buying an additional 16,468 shares in the last quarter. American Century Companies Inc. increased its position in Descartes Systems Group by 3.7% in the second quarter. American Century Companies Inc. now owns 257,717 shares of the technology company’s stock worth $8,396,000 after buying an additional 9,103 shares in the last quarter. Macquarie Group Ltd. increased its position in Descartes Systems Group by 9.8% in the second quarter. Macquarie Group Ltd. now owns 213,197 shares of the technology company’s stock worth $6,942,000 after buying an additional 19,000 shares in the last quarter. Bank of Nova Scotia increased its position in Descartes Systems Group by 18.1% in the second quarter. Bank of Nova Scotia now owns 305,750 shares of the technology company’s stock worth $9,926,000 after buying an additional 46,826 shares in the last quarter. Finally, Sei Investments Co. increased its position in Descartes Systems Group by 3,015.9% in the second quarter. Sei Investments Co. now owns 4,518 shares of the technology company’s stock worth $147,000 after buying an additional 4,373 shares in the last quarter. 80.02% of the stock is currently owned by institutional investors.
NASDAQ:DSGX opened at $27.78 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.10 and a quick ratio of 1.10. Descartes Systems Group Inc has a 12-month low of $24.85 and a 12-month high of $35.87. The stock has a market cap of $2.14 billion, a P/E ratio of 79.37 and a beta of 0.50.
Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, September 5th. The technology company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. Descartes Systems Group had a return on equity of 5.66% and a net margin of 10.92%. The firm had revenue of $67.10 million during the quarter, compared to analysts’ expectations of $67.70 million. During the same quarter last year, the business posted $0.09 earnings per share. The firm’s revenue was up 17.1% on a year-over-year basis. As a group, research analysts anticipate that Descartes Systems Group Inc will post 0.43 EPS for the current year.
A number of analysts have commented on the company. BidaskClub cut Descartes Systems Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 15th. Zacks Investment Research cut Descartes Systems Group from a “hold” rating to a “sell” rating in a research report on Friday, September 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $34.00.
Descartes Systems Group Company Profile
The Descartes Systems Group Inc provides federated network and logistics technology solutions worldwide. Its Logistics Application Suite offers a range of modular, cloud-based, and interoperable Web and wireless logistics management applications. The company's Logistics Application Suite offers solutions, such as route planning and execution, mobile applications, and telematics and compliance; transportation management solutions comprising carrier compliance and rate management, freight audit and settlement, dock scheduling and yard management, pool distribution, transportation planning and execution, and logistics flow control, as well as visibility, tracking, and performance management; and global logistics network services, such as document management, community, and connectivity services.
Further Reading: Relative Strength Index
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