Nuveen LLC Buys New Holdings in The Descartes Systems Group Inc. $DSGX

Key Points

• Nuveen LLC has acquired a new stake in The Descartes Systems Group, purchasing 209,364 shares valued at approximately $21 million, representing about 0.24% of the company.
• Recent analyst ratings highlight a mixed outlook for the stock, with a consensus rating of "Moderate Buy" and an average price target of $122.18, despite some downgrades from firms like Wall Street Zen.
• The Descartes Systems Group reported earnings of $0.41 per share for the last quarter, missing estimates, while revenue grew by 11.5% year-over-year.

Nuveen LLC acquired a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 209,364 shares of the technology company's stock, valued at approximately $21,074,000. Nuveen LLC owned approximately 0.24% of The Descartes Systems Group as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of DSGX. NBC Securities Inc. acquired a new position in The Descartes Systems Group during the 1st quarter worth about $25,000. GeoWealth Management LLC lifted its holdings in The Descartes Systems Group by 63.2% during the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock worth $39,000 after buying an additional 132 shares during the period. Cullen Frost Bankers Inc. acquired a new position in The Descartes Systems Group during the 1st quarter worth about $49,000. Optiver Holding B.V. acquired a new position in The Descartes Systems Group during the 4th quarter worth about $66,000. Finally, Johnson Financial Group Inc. lifted its holdings in The Descartes Systems Group by 830.9% during the 4th quarter. Johnson Financial Group Inc. now owns 875 shares of the technology company's stock worth $101,000 after buying an additional 781 shares during the period. Institutional investors and hedge funds own 77.73% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on DSGX. Morgan Stanley began coverage on The Descartes Systems Group in a report on Monday, July 14th. They set an "equal weight" rating and a $110.00 target price on the stock. Royal Bank Of Canada cut their target price on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a report on Thursday, June 5th. Barclays cut their target price on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a report on Thursday, June 5th. Finally, Wall Street Zen lowered The Descartes Systems Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $122.18.

The Descartes Systems Group Stock Performance

Shares of DSGX stock traded up $2.32 during mid-day trading on Friday, hitting $101.37. The company's stock had a trading volume of 540,517 shares, compared to its average volume of 445,788. The company's fifty day simple moving average is $102.32 and its 200-day simple moving average is $105.16. The Descartes Systems Group Inc. has a 52 week low of $92.00 and a 52 week high of $124.31. The company has a market cap of $8.71 billion, a PE ratio of 61.07 and a beta of 0.81.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.05). The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%.The business had revenue of $168.74 million during the quarter, compared to the consensus estimate of $169.60 million. During the same period last year, the business posted $0.40 earnings per share. The business's revenue was up 11.5% on a year-over-year basis. On average, equities analysts anticipate 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.