Legal & General Group Plc Takes Position in The Descartes Systems Group Inc. $DSGX

Key Points

• Legal & General Group Plc acquired 349,533 shares of The Descartes Systems Group, valued at approximately $24.2 million, giving it a 0.41% stake. Institutional investors collectively own 77.73% of the company.
• Analysts remain broadly positive, with one Strong Buy, 11 Buy and three Hold ratings. The stock has a “Moderate Buy” consensus rating and an average price target of $102.54.
• Descartes reported quarterly EPS of $0.55, exceeding estimates of $0.52, while revenue rose 14.7% year over year to $166.96 million. Shares opened at $81.83, compared with a 52-week range of $62.56 to $109.00.

Legal & General Group Plc bought a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 349,533 shares of the technology company's stock, valued at approximately $24,201,000. Legal & General Group Plc owned approximately 0.41% of The Descartes Systems Group as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Quarry LP acquired a new position in The Descartes Systems Group in the third quarter valued at about $27,000. Trust Co. of Vermont acquired a new stake in The Descartes Systems Group during the second quarter worth about $33,000. Danske Bank A S acquired a new stake in The Descartes Systems Group during the third quarter worth about $34,000. Keating Financial Advisory Services Inc. bought a new position in The Descartes Systems Group in the 2nd quarter valued at about $38,000. Finally, EverSource Wealth Advisors LLC increased its holdings in The Descartes Systems Group by 57.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company's stock valued at $39,000 after buying an additional 200 shares during the period. Institutional investors own 77.73% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DSGX. Canadian Imperial Bank of Commerce upped their price target on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an "outperformer" rating in a report on Thursday, June 4th. National Bank Financial set a $95.00 price objective on shares of The Descartes Systems Group and gave the company an "outperform" rating in a research note on Monday, July 20th. Raymond James Financial lowered their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "outperform" rating for the company in a research report on Thursday, June 4th. Loop Capital restated a "buy" rating and set a $96.00 target price on shares of The Descartes Systems Group in a research note on Thursday, June 4th. Finally, Weiss Ratings upgraded The Descartes Systems Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $102.54.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock opened at $81.83 on Friday. The company's 50 day moving average price is $74.02 and its two-hundred day moving average price is $71.77. The firm has a market capitalization of $7.01 billion, a P/E ratio of 40.91 and a beta of 0.62. The Descartes Systems Group Inc. has a fifty-two week low of $62.56 and a fifty-two week high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.03. The company had revenue of $166.96 million during the quarter, compared to analysts' expectations of $193.57 million. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The Descartes Systems Group's revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 EPS. On average, analysts expect 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.

Want to see what other hedge funds are holding DSGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.