Healthcare of Ontario Pension Plan Trust Fund Makes New $204,000 Investment in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Healthcare of Ontario Pension Plan Trust Fund bought a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,230 shares of the technology company’s stock, valued at approximately $204,000.

Several other hedge funds also recently bought and sold shares of the company. Brown Brothers Harriman & Co. acquired a new stake in shares of The Descartes Systems Group during the fourth quarter worth $27,000. Central Pacific Bank Trust Division acquired a new stake in shares of The Descartes Systems Group during the first quarter worth $28,000. Accent Capital Management LLC bought a new position in The Descartes Systems Group in the fourth quarter valued at $32,000. Whittier Trust Co. of Nevada Inc. grew its position in The Descartes Systems Group by 703.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock valued at $45,000 after purchasing an additional 429 shares in the last quarter. Finally, Park Place Capital Corp grew its position in The Descartes Systems Group by 48.5% in the first quarter. Park Place Capital Corp now owns 671 shares of the technology company’s stock valued at $61,000 after purchasing an additional 219 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Stephens raised their target price on shares of The Descartes Systems Group from $107.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Raymond James lifted their price objective on shares of The Descartes Systems Group from $94.00 to $96.00 and gave the company a “market perform” rating in a research report on Friday, May 31st. Barclays lifted their price objective on shares of The Descartes Systems Group from $75.00 to $87.00 and gave the company an “underweight” rating in a research report on Friday, May 17th. Royal Bank of Canada lifted their price objective on shares of The Descartes Systems Group from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. Finally, StockNews.com downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, The Descartes Systems Group presently has an average rating of “Moderate Buy” and a consensus price target of $102.00.

The Descartes Systems Group Price Performance

Shares of DSGX opened at $100.49 on Friday. The Descartes Systems Group Inc. has a one year low of $69.59 and a one year high of $104.71. The company has a market cap of $8.58 billion, a P/E ratio of 71.78 and a beta of 0.98. The firm has a 50 day simple moving average of $97.06 and a two-hundred day simple moving average of $92.66.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.02). The firm had revenue of $151.30 million for the quarter, compared to analyst estimates of $151.80 million. The Descartes Systems Group had a net margin of 20.62% and a return on equity of 9.96%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 earnings per share. On average, analysts expect that The Descartes Systems Group Inc. will post 1.7 earnings per share for the current fiscal year.

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.