Crestwood Advisors Group LLC Makes New Investment in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Crestwood Advisors Group LLC acquired a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 14,469 shares of the technology company's stock, valued at approximately $1,459,000.

Several other hedge funds also recently made changes to their positions in DSGX. NBC Securities Inc. purchased a new stake in shares of The Descartes Systems Group in the first quarter valued at approximately $25,000. GeoWealth Management LLC lifted its holdings in The Descartes Systems Group by 63.2% in the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock valued at $39,000 after acquiring an additional 132 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in The Descartes Systems Group in the first quarter valued at $49,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of The Descartes Systems Group during the 4th quarter worth $57,000. Finally, Optiver Holding B.V. acquired a new position in shares of The Descartes Systems Group during the 4th quarter worth $66,000. Institutional investors and hedge funds own 77.73% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DSGX. Morgan Stanley initiated coverage on shares of The Descartes Systems Group in a research note on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price objective for the company. Stephens reduced their price target on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Royal Bank Of Canada lowered their price target on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a report on Thursday, June 5th. Finally, Barclays dropped their price objective on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a research note on Thursday, June 5th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $122.18.

The Descartes Systems Group Price Performance

NASDAQ:DSGX traded up $1.22 during trading hours on Friday, reaching $107.67. 283,959 shares of the company traded hands, compared to its average volume of 437,737. The firm's 50-day moving average is $105.32 and its 200-day moving average is $107.19. The stock has a market cap of $9.24 billion, a P/E ratio of 64.86 and a beta of 0.82. The Descartes Systems Group Inc. has a 1-year low of $90.61 and a 1-year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.05). The company had revenue of $168.74 million during the quarter, compared to analysts' expectations of $169.60 million. The Descartes Systems Group had a net margin of 21.67% and a return on equity of 10.53%. The firm's revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 earnings per share. As a group, research analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current 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.