George Kaiser Family Foundation Invests $1.67 Million in The Descartes Systems Group Inc. $DSGX

George Kaiser Family Foundation purchased a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 24,131 shares of the technology company’s stock, valued at approximately $1,671,000. The Descartes Systems Group comprises approximately 0.2% of George Kaiser Family Foundation’s holdings, making the stock its 29th biggest position.

Several other institutional investors have also recently added to or reduced their stakes in DSGX. Norges Bank purchased a new stake in The Descartes Systems Group during the 4th quarter valued at approximately $100,405,000. Morgan Stanley grew its stake in shares of The Descartes Systems Group by 97.2% in the 4th quarter. Morgan Stanley now owns 1,584,393 shares of the technology company’s stock valued at $138,888,000 after purchasing an additional 780,857 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of The Descartes Systems Group by 74.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,743,262 shares of the technology company’s stock valued at $152,898,000 after purchasing an additional 743,104 shares during the last quarter. BlackRock Inc. acquired a new position in shares of The Descartes Systems Group in the second quarter valued at approximately $48,684,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of The Descartes Systems Group by 140.5% in the first quarter. The Manufacturers Life Insurance Company now owns 1,100,755 shares of the technology company’s stock valued at $78,772,000 after purchasing an additional 643,071 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Trading Up 0.5%

Shares of DSGX stock opened at $78.21 on Friday. The company has a market cap of $6.70 billion, a price-to-earnings ratio of 39.10 and a beta of 0.62. The stock has a 50 day simple moving average of $73.07 and a 200-day simple moving average of $71.38. The Descartes Systems Group Inc. has a 12-month low of $62.56 and a 12-month high of $109.00.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on DSGX shares. Raymond James Financial decreased their price target 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. Canadian Imperial Bank of Commerce boosted 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 research note on Thursday, June 4th. Weiss Ratings upgraded shares of The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 21st. Loop Capital restated a “buy” rating and issued a $96.00 target price on shares of The Descartes Systems Group in a research note on Thursday, June 4th. Finally, National Bank Financial set a $95.00 target price on shares of The Descartes Systems Group and gave the company an “outperform” rating in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group has a consensus rating of “Moderate Buy” and an average target price of $102.54.

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.