Northern Trust Corp Increases Stake in The Descartes Systems Group Inc. $DSGX

Key Points

• Northern Trust Corp increased its stake in The Descartes Systems Group by 39.0%, acquiring an additional 31,525 shares during the first quarter, bringing its total ownership to 112,262 shares valued at approximately $11.3 million.
• The Descartes Systems Group reported earnings of $0.43 per share for the latest quarter, missing analysts' expectations of $0.49, although the company saw a 10% increase in revenue year-over-year.
• Currently, institutional investors hold 77.73% of The Descartes Systems Group's stock, reflecting strong investor interest in the company.

Northern Trust Corp lifted its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 39.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 112,262 shares of the technology company's stock after purchasing an additional 31,525 shares during the quarter. Northern Trust Corp owned about 0.13% of The Descartes Systems Group worth $11,319,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. NBC Securities Inc. acquired a new position in shares of The Descartes Systems Group during the 1st quarter worth $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of The Descartes Systems Group during the 1st quarter worth $49,000. Versant Capital Management Inc grew its stake in shares of The Descartes Systems Group by 2,013.5% during the 1st quarter. Versant Capital Management Inc now owns 1,099 shares of the technology company's stock worth $111,000 after purchasing an additional 1,047 shares during the period. Intact Investment Management Inc. acquired a new position in shares of The Descartes Systems Group during the 1st quarter worth $141,000. Finally, Wealth Alliance LLC grew its stake in shares of The Descartes Systems Group by 5.4% during the 1st quarter. Wealth Alliance LLC now owns 2,297 shares of the technology company's stock worth $232,000 after purchasing an additional 118 shares during the period. 77.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of The Descartes Systems Group from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. Zacks Research raised shares of The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 2nd. Morgan Stanley initiated coverage on shares of The Descartes Systems Group in a research note on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price objective on the stock. Royal Bank Of Canada lowered their price objective on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a research note on Thursday, June 5th. Finally, Barclays lowered their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a research note on Thursday, June 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $123.60.

The Descartes Systems Group Trading Down 1.0%

Shares of The Descartes Systems Group stock traded down $1.07 during mid-day trading on Wednesday, hitting $105.88. 304,900 shares of the stock were exchanged, compared to its average volume of 554,914. The Descartes Systems Group Inc. has a twelve month low of $92.00 and a twelve month high of $124.31. The stock has a market capitalization of $9.10 billion, a price-to-earnings ratio of 62.65 and a beta of 0.80. The company has a 50-day simple moving average of $102.76 and a 200 day simple moving average of $104.05.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The firm had revenue of $178.98 million for the quarter, compared to analyst estimates of $176.51 million. During the same period in the prior year, the business earned $0.40 earnings per share. The Descartes Systems Group's revenue for the quarter was up 10.0% on a year-over-year basis. Equities research analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share 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.