Bessemer Group Inc. Increases Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Bessemer Group Inc. grew its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 9.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 235,879 shares of the technology company's stock after purchasing an additional 21,143 shares during the period. Bessemer Group Inc. owned approximately 0.28% of The Descartes Systems Group worth $23,782,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. NBC Securities Inc. acquired a new stake in The Descartes Systems Group in the first quarter valued at about $25,000. GeoWealth Management LLC lifted its holdings in shares of The Descartes Systems Group by 63.2% in the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock worth $39,000 after acquiring an additional 132 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of The Descartes Systems Group in the 4th quarter valued at approximately $43,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of The Descartes Systems Group in the 4th quarter valued at approximately $57,000. Finally, Optiver Holding B.V. bought a new stake in shares of The Descartes Systems Group during the 4th quarter valued at approximately $66,000. Institutional investors and hedge funds own 77.73% of the company's stock.

Analyst Ratings Changes

DSGX has been the subject of several research reports. Royal Bank Of Canada dropped their price objective on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a research note on Thursday, June 5th. Barclays dropped their price target 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. Stephens cut their price objective on The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Scotiabank upped their target price on The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a report on Wednesday, March 26th. Finally, CIBC dropped their target price on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $123.40.

The Descartes Systems Group Price Performance

NASDAQ DSGX traded up $0.20 during mid-day trading on Monday, reaching $101.64. 766,939 shares of the stock were exchanged, compared to its average volume of 236,574. The stock has a market cap of $8.72 billion, a P/E ratio of 61.23 and a beta of 0.87. The Descartes Systems Group Inc. has a one year low of $90.61 and a one year high of $124.31. The stock has a 50 day simple moving average of $106.88 and a 200-day simple moving average of $108.60.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.05). The business had revenue of $168.74 million for the quarter, compared to analyst estimates of $169.60 million. The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%. The business's revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 earnings per share. Sell-side analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal 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.