Comerica Bank Purchases Shares of 26,933 The Descartes Systems Group Inc. (DSGX)

Comerica Bank purchased a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 26,933 shares of the technology company’s stock, valued at approximately $778,000.

Other large investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in The Descartes Systems Group by 20.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,066 shares of the technology company’s stock valued at $123,000 after acquiring an additional 860 shares in the last quarter. US Bancorp DE boosted its holdings in The Descartes Systems Group by 23.8% in the second quarter. US Bancorp DE now owns 5,975 shares of the technology company’s stock valued at $145,000 after acquiring an additional 1,150 shares in the last quarter. Legal & General Group Plc boosted its holdings in The Descartes Systems Group by 6.8% in the second quarter. Legal & General Group Plc now owns 7,795 shares of the technology company’s stock valued at $189,000 after acquiring an additional 495 shares in the last quarter. Suntrust Banks Inc. boosted its holdings in The Descartes Systems Group by 4.9% in the second quarter. Suntrust Banks Inc. now owns 14,338 shares of the technology company’s stock valued at $348,000 after acquiring an additional 672 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in The Descartes Systems Group by 6.6% in the second quarter. Dimensional Fund Advisors LP now owns 17,253 shares of the technology company’s stock valued at $420,000 after acquiring an additional 1,064 shares in the last quarter. Institutional investors and hedge funds own 77.01% of the company’s stock.

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) opened at $26.75 on Tuesday. The Descartes Systems Group Inc. has a fifty-two week low of $20.35 and a fifty-two week high of $31.23. The company has a market cap of $2,103.59, a price-to-earnings ratio of 80.59 and a beta of 0.51. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.11.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, November 29th. The technology company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.02). The business had revenue of $62.00 million for the quarter, compared to the consensus estimate of $60.01 million. The Descartes Systems Group had a net margin of 11.61% and a return on equity of 5.83%. The business’s revenue was up 20.4% on a year-over-year basis. sell-side analysts forecast that The Descartes Systems Group Inc. will post 0.38 earnings per share for the current year.

DSGX has been the topic of a number of research reports. Zacks Investment Research cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. Raymond James Financial boosted their target price on shares of The Descartes Systems Group from $27.50 to $38.00 and gave the company an “outperform” rating in a report on Thursday, September 7th. BMO Capital Markets boosted their target price on shares of The Descartes Systems Group from $26.00 to $29.00 and gave the company a “market perform” rating in a report on Thursday, September 7th. Canaccord Genuity restated a “buy” rating and set a $30.00 target price (up previously from $28.00) on shares of The Descartes Systems Group in a report on Thursday, September 7th. Finally, TD Securities boosted their target price on shares of The Descartes Systems Group from $29.00 to $40.50 and gave the company a “buy” rating in a report on Thursday, September 7th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $33.39.

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About The Descartes Systems Group

Descartes Systems Group Inc (Descartes) is a Canada-based global provider of federated network and global logistics technology solutions that help its customers make and receive shipments and manage related resources. Its network-based solutions, which primarily consist of services and software, connect people to their trading partners and enable business document exchange (bookings, bills of lading, status messages); regulatory compliance and customs filing; route and resource planning, execution and monitoring; access and leverage global trade and restricted party data; inventory and asset visibility; rate and transportation management, and warehouse operations.

Institutional Ownership by Quarter for The Descartes Systems Group (NASDAQ:DSGX)

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