AEGON ASSET MANAGEMENT UK Plc Purchases 25,588 Shares of The Descartes Systems Group Inc. $DSGX

Key Points

• AEGON ASSET MANAGEMENT UK Plc increased its holdings in The Descartes Systems Group by 20.8%, acquiring an additional 25,588 shares during the 2nd quarter to total approximately $15 million in value.
• Several institutional investors have also bolstered their stakes in The Descartes Systems Group, with 77.73% of the stock owned by institutional investors.
• Analysts have set a consensus target price of $121.80 for DSGX, with ratings ranging from Strong Buy to Hold among various research firms.

AEGON ASSET MANAGEMENT UK Plc boosted its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 20.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 148,552 shares of the technology company's stock after acquiring an additional 25,588 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.17% of The Descartes Systems Group worth $15,024,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DSGX. Price T Rowe Associates Inc. MD boosted its holdings in The Descartes Systems Group by 15.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,134,467 shares of the technology company's stock valued at $719,370,000 after purchasing an additional 936,718 shares in the last quarter. Granahan Investment Management LLC boosted its holdings in The Descartes Systems Group by 715.5% during the first quarter. Granahan Investment Management LLC now owns 378,982 shares of the technology company's stock valued at $38,213,000 after purchasing an additional 332,508 shares in the last quarter. Nuveen LLC acquired a new stake in The Descartes Systems Group during the first quarter valued at approximately $21,074,000. Fiera Capital Corp boosted its holdings in The Descartes Systems Group by 8.0% during the first quarter. Fiera Capital Corp now owns 2,745,848 shares of the technology company's stock valued at $276,705,000 after purchasing an additional 202,973 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in The Descartes Systems Group by 10.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,947,947 shares of the technology company's stock valued at $196,412,000 after purchasing an additional 181,086 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on DSGX. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of The Descartes Systems Group in a report on Wednesday, October 8th. TD Securities began coverage on The Descartes Systems Group in a report on Friday, October 3rd. They set a "buy" rating and a $121.00 price objective on the stock. Zacks Research raised The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 2nd. Morgan Stanley started coverage on The Descartes Systems Group in a report on Monday, July 14th. They set an "equal weight" rating and a $110.00 price objective on the stock. Finally, Wall Street Zen raised The Descartes Systems Group from a "sell" rating to a "hold" rating in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $121.80.

The Descartes Systems Group Price Performance

DSGX stock opened at $97.55 on Wednesday. The company has a 50 day moving average price of $99.64 and a 200 day moving average price of $103.12. The Descartes Systems Group Inc. has a fifty-two week low of $91.00 and a fifty-two week high of $124.31. The stock has a market capitalization of $8.38 billion, a PE ratio of 57.72 and a beta of 0.77.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its earnings results on Wednesday, September 3rd. The technology company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). The business had revenue of $178.98 million for the quarter, compared to the consensus estimate of $176.51 million. The Descartes Systems Group had a net margin of 21.64% and a return on equity of 10.41%. The business's revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. As a group, equities analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal 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.

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