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

Bessemer Group Inc. grew its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 9.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DSGX. Mackenzie Financial Corp increased its position in shares of The Descartes Systems Group by 130.4% in the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock valued at $561,827,000 after acquiring an additional 2,800,492 shares during the period. Norges Bank acquired a new position in shares of The Descartes Systems Group in the 4th quarter valued at $126,918,000. Arrowstreet Capital Limited Partnership increased its position in shares of The Descartes Systems Group by 114.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company's stock valued at $136,175,000 after acquiring an additional 639,848 shares during the period. Praesidium Investment Management Company LLC acquired a new position in shares of The Descartes Systems Group in the 4th quarter valued at $54,724,000. Finally, Franklin Resources Inc. increased its position in shares of The Descartes Systems Group by 23.9% in the 4th quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company's stock valued at $192,502,000 after acquiring an additional 326,643 shares during the period. Hedge funds and other institutional investors own 77.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Barclays cut their price target on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a research report on Thursday, June 5th. BMO Capital Markets cut their price target on The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating on the stock in a research report on Thursday, March 6th. Stephens cut their price target on The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Royal Bank Of Canada cut their price target on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a research report on Thursday, June 5th. Finally, CIBC cut their price target on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $123.40.

The Descartes Systems Group Price Performance

Shares of DSGX stock traded down $0.64 during trading on Friday, hitting $101.44. 646,148 shares of the stock traded hands, compared to its average volume of 233,810. The firm has a market capitalization of $8.70 billion, a P/E ratio of 61.11 and a beta of 0.87. The firm's fifty day moving average price is $106.87 and its 200-day moving average price is $109.02. The Descartes Systems Group Inc. has a 52-week low of $90.61 and a 52-week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). The firm had revenue of $168.74 million for 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 quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. As a group, equities research analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

About The Descartes Systems Group

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.