NewGen Asset Management Ltd Invests $6.14 Million in The Descartes Systems Group Inc. $DSGX

NewGen Asset Management Ltd acquired a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 70,000 shares of the technology company's stock, valued at approximately $6,143,000. The Descartes Systems Group comprises approximately 3.8% of NewGen Asset Management Ltd's portfolio, making the stock its 10th largest holding. NewGen Asset Management Ltd owned 0.08% of The Descartes Systems Group as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in The Descartes Systems Group by 35.1% during the first quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company's stock valued at $38,027,000 after acquiring an additional 98,054 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of The Descartes Systems Group by 1.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 54,618 shares of the technology company's stock valued at $5,507,000 after purchasing an additional 660 shares in the last quarter. Amundi lifted its stake in shares of The Descartes Systems Group by 74.5% in the 2nd quarter. Amundi now owns 82,319 shares of the technology company's stock valued at $8,360,000 after purchasing an additional 35,132 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of The Descartes Systems Group by 25.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,246 shares of the technology company's stock worth $127,000 after purchasing an additional 254 shares during the period. Finally, AXA S.A. grew its holdings in shares of The Descartes Systems Group by 2.0% during the 2nd quarter. AXA S.A. now owns 6,702 shares of the technology company's stock worth $681,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds own 77.73% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Rothschild & Co Redburn raised shares of The Descartes Systems Group from a "neutral" rating to a "buy" rating and reduced their price target for the company from $100.00 to $90.00 in a research report on Thursday, April 16th. BMO Capital Markets cut their target price on shares of The Descartes Systems Group from $95.00 to $82.00 and set a "market perform" rating on the stock in a research note on Thursday, March 12th. Barclays decreased their price target on shares of The Descartes Systems Group from $90.00 to $89.00 and set an "overweight" rating for the company in a research report on Thursday, March 12th. Canaccord Genuity Group lowered their price target on The Descartes Systems Group from $110.00 to $92.00 and set a "buy" rating for the company in a report on Thursday, March 12th. Finally, Raymond James Financial cut their price objective 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. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, The Descartes Systems Group has an average rating of "Moderate Buy" and a consensus price target of $103.17.

The Descartes Systems Group Trading Down 0.6%

NASDAQ DSGX opened at $72.51 on Tuesday. The stock has a market cap of $6.23 billion, a P/E ratio of 36.26 and a beta of 0.64. The company's fifty day simple moving average is $71.87 and its 200-day simple moving average is $75.92. The Descartes Systems Group Inc. has a 52 week low of $62.56 and a 52 week high of $109.00.

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

The Descartes Systems Group Company 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.

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