89,440 Shares in The Descartes Systems Group Inc. $DSGX Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 89,440 shares of Descartes Systems Group worth approximately $6.19 million, while institutional investors collectively own 77.73% of the company.
• Analysts maintain a “Moderate Buy” consensus rating, with 12 Buy or Strong Buy ratings and an average price target of $102.46 versus the stock’s reported $78.94 price.
• Descartes reported quarterly EPS of $0.55, exceeding the $0.52 consensus estimate, while revenue rose 14.7% year over year to $166.96 million but came in below analysts’ $193.57 million forecast.

Bank of New York Mellon Corp purchased a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 89,440 shares of the technology company's stock, valued at approximately $6,193,000. Bank of New York Mellon Corp owned approximately 0.10% of The Descartes Systems Group at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. AXA S.A. increased its stake in The Descartes Systems Group by 2.0% in the second quarter. AXA S.A. now owns 6,702 shares of the technology company's stock valued at $681,000 after acquiring an additional 130 shares during the last quarter. Reynders McVeigh Capital Management LLC lifted its stake in The Descartes Systems Group by 0.3% during the third quarter. Reynders McVeigh Capital Management LLC now owns 55,260 shares of the technology company's stock worth $5,207,000 after purchasing an additional 140 shares during the last quarter. Orion Porfolio Solutions LLC boosted its holdings in shares of The Descartes Systems Group by 4.1% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company's stock worth $368,000 after purchasing an additional 143 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of The Descartes Systems Group by 19.2% in the 4th quarter. Federated Hermes Inc. now owns 1,098 shares of the technology company's stock worth $96,000 after purchasing an additional 177 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of The Descartes Systems Group by 57.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company's stock valued at $39,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 77.73% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on DSGX shares. National Bank Financial set a $95.00 target price on The Descartes Systems Group and gave the stock an "outperform" rating in a research note on Monday, July 20th. Raymond James Financial decreased their price target on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "outperform" rating on the stock in a research note on Thursday, June 4th. Weiss Ratings upgraded shares of The Descartes Systems Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, July 21st. Loop Capital reaffirmed a "buy" rating and issued a $96.00 price objective on shares of The Descartes Systems Group in a research note on Thursday, June 4th. Finally, Royal Bank Of Canada set a $125.00 target price on shares of The Descartes Systems Group and gave the company an "outperform" rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $102.46.

The Descartes Systems Group Trading Down 2.2%

Shares of The Descartes Systems Group stock opened at $78.94 on Friday. The firm has a market capitalization of $6.75 billion, a P/E ratio of 39.47 and a beta of 0.62. The business has a fifty day simple moving average of $75.22 and a two-hundred day simple moving average of $72.23. The Descartes Systems Group Inc. has a 12 month low of $62.56 and a 12 month high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.03. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The company had revenue of $166.96 million during the quarter, compared to analyst estimates of $193.57 million. During the same period last year, the business earned $0.41 EPS. The Descartes Systems Group's quarterly revenue was up 14.7% compared to the same quarter last year. Analysts predict that The Descartes Systems Group Inc. will post 2.34 earnings per share for the current year.

The Descartes Systems Group 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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