Plato Investment Management Ltd Buys New Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Plato Investment Management Ltd purchased a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,428 shares of the technology company's stock, valued at approximately $2,308,000.

A number of other institutional investors have also added to or reduced their stakes in DSGX. Intact Investment Management Inc. bought a new stake in The Descartes Systems Group in the 2nd quarter worth approximately $61,000. Blue Trust Inc. grew its holdings in shares of The Descartes Systems Group by 931.7% during the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company's stock valued at $63,000 after purchasing an additional 587 shares during the last quarter. Andra AP fonden bought a new position in shares of The Descartes Systems Group during the 2nd quarter valued at $77,000. Park Place Capital Corp lifted its stake in The Descartes Systems Group by 31.6% in the second quarter. Park Place Capital Corp now owns 883 shares of the technology company's stock worth $86,000 after purchasing an additional 212 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in The Descartes Systems Group by 143.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,194 shares of the technology company's stock worth $116,000 after purchasing an additional 704 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Trading Down 3.4 %

The Descartes Systems Group stock traded down $3.98 during trading on Thursday, reaching $111.97. The company had a trading volume of 311,826 shares, compared to its average volume of 152,574. The firm has a market capitalization of $9.57 billion, a price-to-earnings ratio of 75.66 and a beta of 0.97. The firm's 50-day simple moving average is $104.24 and its 200 day simple moving average is $99.82. The Descartes Systems Group Inc. has a 52 week low of $79.21 and a 52 week high of $117.24.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $163.43 million for the quarter, compared to analysts' expectations of $160.17 million. During the same period in the previous year, the firm earned $0.32 earnings per share. The firm's quarterly revenue was up 14.0% on a year-over-year basis. On average, analysts predict that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

DSGX has been the topic of several analyst reports. BMO Capital Markets lifted their target price on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a "market perform" rating in a research note on Thursday, September 5th. Barclays lifted their target price on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the company an "underweight" rating in a research note on Thursday, September 5th. Scotiabank increased their price target on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the stock a "sector outperform" rating in a research note on Thursday, October 24th. National Bank Financial upgraded The Descartes Systems Group to a "strong-buy" rating in a report on Wednesday, September 25th. Finally, Canaccord Genuity Group set a $108.00 target price on The Descartes Systems Group and gave the company a "buy" rating in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, The Descartes Systems Group currently has an average rating of "Moderate Buy" and an average price target of $106.17.

About The Descartes Systems Group

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.