Shell Asset Management Co. Buys 8,280 Shares of The Descartes Systems Group Inc. $DSGX

Key Points

• Shell Asset Management Co. increased its holdings in The Descartes Systems Group Inc. by 85.2% during the second quarter, acquiring an additional 8,280 shares, bringing their total ownership to 17,994 shares valued at approximately $1.82 million.
• Several institutional investors, including Hilltop National Bank and Crown Oak Advisors LLC, have also established new positions in The Descartes Systems Group, contributing to 77.73% of the company's stock being owned by institutional investors.
• Analysts have mixed ratings on the stock, with TD Securities offering a "buy" rating and a $121.00 target price, while Zacks Research upgraded the stock to a "hold" rating, indicating a consensus rating of "Moderate Buy" with a price target of $121.80.

Shell Asset Management Co. raised its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 85.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,994 shares of the technology company's stock after acquiring an additional 8,280 shares during the quarter. Shell Asset Management Co.'s holdings in The Descartes Systems Group were worth $1,824,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Hilltop National Bank bought a new position in The Descartes Systems Group in the 2nd quarter valued at about $215,000. Crown Oak Advisors LLC bought a new position in The Descartes Systems Group in the 2nd quarter valued at about $4,356,000. Argent Capital Management LLC raised its holdings in The Descartes Systems Group by 1.3% in the 2nd quarter. Argent Capital Management LLC now owns 58,936 shares of the technology company's stock valued at $5,991,000 after acquiring an additional 781 shares during the period. Capital CS Group LLC raised its holdings in The Descartes Systems Group by 34.9% in the 2nd quarter. Capital CS Group LLC now owns 3,293 shares of the technology company's stock valued at $335,000 after acquiring an additional 852 shares during the period. Finally, GAMMA Investing LLC raised its holdings in The Descartes Systems Group by 23.2% in the 2nd quarter. GAMMA Investing LLC now owns 622 shares of the technology company's stock valued at $63,000 after acquiring an additional 117 shares during the period. 77.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on DSGX shares. Zacks Research upgraded shares of The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 2nd. Weiss Ratings restated a "hold (c+)" rating on shares of The Descartes Systems Group in a research report on Wednesday. TD Securities started coverage on shares of The Descartes Systems Group in a research report on Friday, October 3rd. They set a "buy" rating and a $121.00 target price on the stock. Wall Street Zen upgraded shares of The Descartes Systems Group from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. Finally, TD Cowen restated a "buy" rating and set a $121.00 target price on shares of The Descartes Systems Group in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, The Descartes Systems Group presently has a consensus rating of "Moderate Buy" and an average price target of $121.80.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX opened at $97.34 on Thursday. The company has a market cap of $8.37 billion, a price-to-earnings ratio of 57.60 and a beta of 0.77. The firm has a 50 day simple moving average of $100.36 and a 200 day simple moving average of $103.28. The Descartes Systems Group Inc. has a one year low of $91.00 and a one year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings data on Wednesday, September 3rd. The technology company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). The company had revenue of $178.98 million during the quarter, compared to the consensus estimate of $176.51 million. The Descartes Systems Group had a net margin of 21.64% and a return on equity of 10.41%. The Descartes Systems Group's revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.40 EPS. As a group, analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current 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.

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