Cumberland Partners Ltd Buys 3,065 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Cumberland Partners Ltd grew its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 3.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 85,903 shares of the technology company’s stock after acquiring an additional 3,065 shares during the quarter. Cumberland Partners Ltd’s holdings in The Descartes Systems Group were worth $8,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Legacy Wealth Asset Management LLC grew its position in The Descartes Systems Group by 3.8% during the third quarter. Legacy Wealth Asset Management LLC now owns 3,771 shares of the technology company’s stock valued at $388,000 after buying an additional 137 shares during the period. Assenagon Asset Management S.A. raised its holdings in The Descartes Systems Group by 4.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,832 shares of the technology company’s stock worth $371,000 after purchasing an additional 158 shares during the period. Assetmark Inc. lifted its position in The Descartes Systems Group by 3.5% during the third quarter. Assetmark Inc. now owns 5,839 shares of the technology company’s stock valued at $601,000 after purchasing an additional 197 shares in the last quarter. Park Place Capital Corp grew its holdings in The Descartes Systems Group by 31.6% during the second quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock valued at $86,000 after purchasing an additional 212 shares during the period. Finally, Parkside Financial Bank & Trust increased its position in The Descartes Systems Group by 18.3% in the second quarter. Parkside Financial Bank & Trust now owns 1,417 shares of the technology company’s stock worth $137,000 after buying an additional 219 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DSGX shares. BMO Capital Markets boosted their price objective on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research note on Thursday, September 5th. Scotiabank raised their price objective on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a research report on Thursday, October 24th. National Bankshares set a $125.00 price target on The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of The Descartes Systems Group in a research note on Thursday, September 5th. Finally, National Bank Financial raised The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.17.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock traded down $0.12 during trading on Tuesday, hitting $115.54. The stock had a trading volume of 24,296 shares, compared to its average volume of 151,258. The stock has a market cap of $9.87 billion, a PE ratio of 78.15 and a beta of 0.97. The Descartes Systems Group Inc. has a 12 month low of $76.96 and a 12 month high of $116.73. The firm’s fifty day simple moving average is $103.59 and its 200-day simple moving average is $99.56.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The business had revenue of $163.43 million for the quarter, compared to analysts’ expectations of $160.17 million. During the same quarter last year, the firm earned $0.32 EPS. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. Analysts expect that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current fiscal year.

The Descartes Systems Group Profile

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.