Bank of New York Mellon Corp Has $6.12 Million Stake in The Descartes Systems Group Inc. $DSGX

Bank of New York Mellon Corp lowered its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 24.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 85,466 shares of the technology company's stock after selling 28,155 shares during the period. Bank of New York Mellon Corp owned approximately 0.10% of The Descartes Systems Group worth $6,116,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of The Descartes Systems Group in the fourth quarter valued at approximately $100,405,000. Morgan Stanley grew its position in The Descartes Systems Group by 97.2% during the fourth quarter. Morgan Stanley now owns 1,584,393 shares of the technology company's stock worth $138,888,000 after buying an additional 780,857 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in The Descartes Systems Group by 74.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,743,262 shares of the technology company's stock worth $152,898,000 after buying an additional 743,104 shares in the last quarter. Bank of America Corp DE increased its stake in The Descartes Systems Group by 119.2% during the 3rd quarter. Bank of America Corp DE now owns 642,817 shares of the technology company's stock worth $60,573,000 after acquiring an additional 349,517 shares during the period. Finally, Toronto Dominion Bank increased its stake in The Descartes Systems Group by 217.9% during the 4th quarter. Toronto Dominion Bank now owns 396,689 shares of the technology company's stock worth $34,802,000 after acquiring an additional 271,916 shares during the period. Institutional investors and hedge funds own 77.73% of the company's stock.

The Descartes Systems Group Stock Up 1.1%

NASDAQ:DSGX opened at $77.42 on Wednesday. The Descartes Systems Group Inc. has a twelve month low of $62.56 and a twelve month high of $109.00. The stock's 50-day simple moving average is $72.31 and its 200 day simple moving average is $71.74. The firm has a market capitalization of $6.63 billion, a PE ratio of 38.71 and a beta of 0.62.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its earnings results on Wednesday, June 3rd. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The firm had revenue of $166.96 million during the quarter, compared to the consensus estimate of $193.57 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The business's quarterly revenue was up 14.7% on a year-over-year basis. On average, analysts anticipate that The Descartes Systems Group Inc. will post 2.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DSGX shares. Loop Capital reiterated a "buy" rating and set a $96.00 target price on shares of The Descartes Systems Group in a research report on Thursday, June 4th. Raymond James Financial decreased their price target on The Descartes Systems Group from $118.00 to $108.00 and set an "outperform" rating on the stock in a research report on Thursday, June 4th. Rothschild & Co Redburn raised The Descartes Systems Group from a "neutral" rating to a "buy" rating and dropped their price target for the company from $100.00 to $90.00 in a research note on Thursday, April 16th. Weiss Ratings raised shares of The Descartes Systems Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 21st. Finally, 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. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $102.54.

About The Descartes Systems Group

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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