Segall Bryant & Hamill LLC grew its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX – Free Report) (TSE:DSG) by 10.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 490,898 shares of the technology company’s stock after buying an additional 45,558 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in The Descartes Systems Group were worth $35,129,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Quarry LP purchased a new position in shares of The Descartes Systems Group in the third quarter valued at $27,000. Danske Bank A S acquired a new position in shares of The Descartes Systems Group during the 3rd quarter worth $34,000. EverSource Wealth Advisors LLC boosted its position in shares of The Descartes Systems Group by 57.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company’s stock worth $39,000 after buying an additional 200 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in shares of The Descartes Systems Group in the 3rd quarter worth about $40,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in The Descartes Systems Group by 267.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock valued at $52,000 after acquiring an additional 401 shares during the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have weighed in on the stock. Raymond James Financial dropped their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. Weiss Ratings raised shares of The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 21st. Rothschild & Co Redburn upgraded shares of The Descartes Systems Group from a “neutral” rating to a “buy” rating and lowered their price target for the company from $100.00 to $90.00 in a research report on Thursday, April 16th. National Bank Financial set a $95.00 price objective on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Monday, July 20th. Finally, Loop Capital reissued a “buy” rating and set a $96.00 price objective on shares of The Descartes Systems Group in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.54.
The Descartes Systems Group Stock Up 0.8%
DSGX stock opened at $75.16 on Friday. The Descartes Systems Group Inc. has a 52-week low of $62.56 and a 52-week high of $109.00. The stock’s fifty day simple moving average is $72.06 and its 200-day simple moving average is $72.00. The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of 37.58 and a beta of 0.64.
The Descartes Systems Group (NASDAQ:DSGX – Get Free Report) (TSE:DSG) last announced its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The business had revenue of $166.96 million during the quarter, compared to the consensus estimate of $193.57 million. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.41 earnings per share. As a group, analysts anticipate that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current fiscal year.
The Descartes Systems Group Company Profile
The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.
Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.
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