Kornitzer Capital Management Inc. KS Invests $1.79 Million in The Descartes Systems Group Inc. $DSGX

Kornitzer Capital Management Inc. KS acquired a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 25,000 shares of the technology company’s stock, valued at approximately $1,789,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of The Descartes Systems Group in the third quarter valued at approximately $27,000. Danske Bank A S bought a new stake in shares of The Descartes Systems Group during the third quarter valued at about $34,000. Measured Wealth Private Client Group LLC acquired a new stake in The Descartes Systems Group in the third quarter worth about $40,000. Caitong International Asset Management Co. Ltd increased its stake in The Descartes Systems Group by 267.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock valued at $52,000 after buying an additional 401 shares during the period. Finally, Rockefeller Capital Management L.P. raised its position in shares of The Descartes Systems Group by 269.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 779 shares of the technology company’s stock worth $68,000 after buying an additional 568 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

DSGX opened at $72.07 on Monday. The firm has a market cap of $6.18 billion, a PE ratio of 36.03 and a beta of 0.64. The business has a fifty day simple moving average of $71.42 and a 200-day simple moving average of $73.47. The Descartes Systems Group Inc. has a fifty-two week low of $62.56 and a fifty-two week high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The business had revenue of $166.96 million during the quarter, compared to analyst estimates of $193.57 million. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The Descartes Systems Group’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter last year, the company posted $0.41 EPS. On average, equities research analysts anticipate that The Descartes Systems Group Inc. will post 2.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Canadian Imperial Bank of Commerce increased their price objective on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a report on Thursday, June 4th. Zacks Research lowered The Descartes Systems Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Loop Capital reiterated a “buy” rating and set a $96.00 price target on shares of The Descartes Systems Group in a research report on Thursday, June 4th. Raymond James Financial cut their price objective on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of The Descartes Systems Group in a research note on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.17.

About The Descartes Systems Group

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.