Oppenheimer Asset Management Inc. Has $4.68 Million Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Oppenheimer Asset Management Inc. boosted its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 81.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,348 shares of the technology company’s stock after acquiring an additional 21,727 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in The Descartes Systems Group were worth $4,682,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of DSGX. TD Asset Management Inc increased its stake in shares of The Descartes Systems Group by 10.5% in the fourth quarter. TD Asset Management Inc now owns 772,483 shares of the technology company’s stock valued at $65,201,000 after buying an additional 73,410 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of The Descartes Systems Group by 7.0% in the first quarter. Bessemer Group Inc. now owns 169,541 shares of the technology company’s stock valued at $15,517,000 after buying an additional 11,025 shares in the last quarter. Quadrature Capital Ltd increased its stake in shares of The Descartes Systems Group by 13.6% in the fourth quarter. Quadrature Capital Ltd now owns 156,000 shares of the technology company’s stock valued at $13,131,000 after buying an additional 18,700 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of The Descartes Systems Group by 3.4% in the first quarter. Russell Investments Group Ltd. now owns 262,615 shares of the technology company’s stock valued at $24,043,000 after buying an additional 8,722 shares in the last quarter. Finally, Zeno Equity Partners LLP acquired a new stake in shares of The Descartes Systems Group in the fourth quarter valued at $11,108,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Trading Up 0.3 %

Shares of DSGX opened at $98.25 on Monday. The Descartes Systems Group Inc. has a 1 year low of $69.59 and a 1 year high of $104.71. The stock has a market cap of $8.39 billion, a P/E ratio of 70.18 and a beta of 0.98. The stock’s 50-day moving average price is $98.90 and its two-hundred day moving average price is $95.54.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The company had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. During the same quarter last year, the business posted $0.32 EPS. The Descartes Systems Group’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, equities analysts forecast that The Descartes Systems Group Inc. will post 1.67 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Raymond James raised their target price on The Descartes Systems Group from $94.00 to $96.00 and gave the company a “market perform” rating in a research note on Friday, May 31st. TD Securities raised their target price on The Descartes Systems Group from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 target price on shares of The Descartes Systems Group in a research note on Thursday, September 5th. CIBC raised their price target on The Descartes Systems Group from $101.00 to $108.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. Finally, Canaccord Genuity Group set a $108.00 price target on The Descartes Systems Group and gave the company a “buy” rating in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, The Descartes Systems Group currently has an average rating of “Moderate Buy” and an average target price of $103.00.

The Descartes Systems Group Company 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.