Thrivent Financial for Lutherans Acquires 3,312 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Thrivent Financial for Lutherans lifted its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 245,099 shares of the technology company’s stock after buying an additional 3,312 shares during the quarter. Thrivent Financial for Lutherans owned about 0.29% of The Descartes Systems Group worth $25,235,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of The Descartes Systems Group by 3.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company’s stock worth $695,864,000 after buying an additional 278,796 shares during the last quarter. Conestoga Capital Advisors LLC lifted its stake in shares of The Descartes Systems Group by 1.7% in the third quarter. Conestoga Capital Advisors LLC now owns 3,168,594 shares of the technology company’s stock worth $326,238,000 after buying an additional 52,485 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of The Descartes Systems Group by 1.3% in the first quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company’s stock worth $287,188,000 after buying an additional 40,897 shares during the last quarter. Fiera Capital Corp lifted its stake in shares of The Descartes Systems Group by 0.8% in the third quarter. Fiera Capital Corp now owns 2,578,648 shares of the technology company’s stock worth $265,692,000 after buying an additional 19,817 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of The Descartes Systems Group by 4.5% in the second quarter. Mackenzie Financial Corp now owns 2,134,228 shares of the technology company’s stock worth $206,807,000 after buying an additional 91,301 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DSGX. National Bankshares set a $125.00 price objective on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Thursday, September 26th. BMO Capital Markets boosted 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 report on Thursday, September 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 target price on shares of The Descartes Systems Group in a research report on Thursday, September 5th. StockNews.com raised shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Finally, National Bank Financial raised shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and an average price target of $109.25.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX opened at $113.61 on Wednesday. The Descartes Systems Group Inc. has a 52 week low of $79.21 and a 52 week high of $117.24. The company’s fifty day moving average is $105.58 and its 200-day moving average is $100.36. The company has a market capitalization of $9.71 billion, a PE ratio of 76.76 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly 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 company had revenue of $163.43 million for the quarter, compared to analyst estimates of $160.17 million. The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the company earned $0.32 EPS. On average, analysts forecast that The Descartes Systems Group Inc. will post 1.69 EPS for the current 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.