Y Intercept Hong Kong Ltd Purchases Shares of 26,103 The Descartes Systems Group Inc. $DSGX

Y Intercept Hong Kong Ltd purchased a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 26,103 shares of the technology company’s stock, valued at approximately $2,460,000.

Several other large investors have also recently modified their holdings of DSGX. Norges Bank bought a new position in shares of The Descartes Systems Group during the 2nd quarter valued at about $117,678,000. Temasek Holdings Private Ltd bought a new position in shares of The Descartes Systems Group in the second quarter worth about $91,155,000. CIBC Asset Management Inc boosted its holdings in shares of The Descartes Systems Group by 275.4% during the 2nd quarter. CIBC Asset Management Inc now owns 835,599 shares of the technology company’s stock valued at $85,085,000 after purchasing an additional 613,009 shares during the last quarter. Picton Mahoney Asset Management bought a new stake in shares of The Descartes Systems Group in the 2nd quarter valued at approximately $48,378,000. Finally, Geode Capital Management LLC boosted its stake in shares of The Descartes Systems Group by 21.8% during the second quarter. Geode Capital Management LLC now owns 794,312 shares of the technology company’s stock valued at $82,666,000 after purchasing an additional 142,230 shares during the period. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on DSGX shares. Royal Bank Of Canada set a $126.00 price target on The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Monday, December 1st. Zacks Research raised The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. Weiss Ratings restated a “hold (c)” rating on shares of The Descartes Systems Group in a report on Monday, December 29th. Morgan Stanley upgraded The Descartes Systems Group from an “equal weight” rating to an “overweight” rating in a research note on Thursday, January 15th. Finally, BMO Capital Markets decreased their price target on shares of The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating for the company in a report on Thursday, December 4th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $116.20.

The Descartes Systems Group Stock Down 0.4%

Shares of NASDAQ DSGX traded down $0.34 during trading hours on Wednesday, hitting $81.21. The company had a trading volume of 38,448 shares, compared to its average volume of 558,612. The firm’s 50 day moving average is $86.56 and its 200-day moving average is $93.91. The Descartes Systems Group Inc. has a 1-year low of $78.88 and a 1-year high of $124.31. The stock has a market capitalization of $6.99 billion, a P/E ratio of 45.90 and a beta of 0.74.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, December 3rd. The technology company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.46 by $0.04. The firm had revenue of $186.78 million during the quarter, compared to the consensus estimate of $184.24 million. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the company earned $0.42 earnings per share. On average, sell-side analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

The Descartes Systems Group Profile

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.