Riverbridge Partners LLC Purchases 19,850 Shares of The Descartes Systems Group Inc. $DSGX

Riverbridge Partners LLC grew its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 6.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 310,952 shares of the technology company’s stock after purchasing an additional 19,850 shares during the period. Riverbridge Partners LLC owned about 0.36% of The Descartes Systems Group worth $25,144,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in The Descartes Systems Group by 9.6% during the third quarter. Versant Capital Management Inc now owns 1,467 shares of the technology company’s stock worth $119,000 after purchasing an additional 129 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in The Descartes Systems Group by 20.2% in the 3rd quarter. SBI Securities Co. Ltd. now owns 969 shares of the technology company’s stock valued at $78,000 after buying an additional 163 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in The Descartes Systems Group by 57.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company’s stock valued at $39,000 after buying an additional 200 shares during the last quarter. Parallel Advisors LLC increased its stake in The Descartes Systems Group by 124.7% in the 1st quarter. Parallel Advisors LLC now owns 755 shares of the technology company’s stock valued at $54,000 after buying an additional 419 shares during the last quarter. Finally, Trust Co. of Vermont purchased a new stake in The Descartes Systems Group in the 2nd quarter valued at about $33,000. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Stock Performance

NASDAQ DSGX opened at $95.08 on Wednesday. The Descartes Systems Group Inc. has a 52-week low of $62.56 and a 52-week high of $96.75. The company has a 50-day simple moving average of $84.33 and a 200 day simple moving average of $75.14. The company has a market capitalization of $8.13 billion, a PE ratio of 44.25 and a beta of 0.65.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Thursday, September 10th. The technology company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $198.12 million for the quarter, compared to analyst estimates of $197.54 million. The Descartes Systems Group had a net margin of 24.25% and a return on equity of 11.66%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 earnings per share. As a group, analysts forecast that The Descartes Systems Group Inc. will post 2.37 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on DSGX shares. Weiss Ratings raised shares of The Descartes Systems Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, September 21st. BMO Capital Markets upped their target price on The Descartes Systems Group from $82.00 to $90.00 and gave the company a “market perform” rating in a report on Tuesday, October 13th. Royal Bank Of Canada set a $125.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a research report on Friday, September 4th. Scotia increased their price target on The Descartes Systems Group from $95.00 to $98.00 and gave the company a “sector outperform” rating in a research report on Friday, September 11th. Finally, Loop Capital reiterated a “buy” rating and set a $96.00 price target on shares of The Descartes Systems Group in a report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, The Descartes Systems Group currently has an average rating of “Moderate Buy” and an average price target of $100.33.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc. provides cloud-based software and network services for businesses involved in logistics and supply chain operations. Its solutions help customers plan, manage and track the movement of goods, information and related resources. The company’s offerings include transportation and route planning, shipment visibility, freight management, customs and trade compliance, and ecommerce fulfillment tools. These services are designed to connect businesses and logistics providers and support the coordination of shipments across supply chains.