Synovus Financial Corp Increases Stock Holdings in The Descartes Systems Group Inc. $DSGX

Key Points

• Synovus Financial Corp increased its stake in The Descartes Systems Group by 28.0%, owning a total of 19,939 shares worth approximately $2.01 million as of the end of the most recent quarter.
• The Descartes Systems Group's stock has a 52-week range between $92.00 and $124.31, with an opening price of $97.92 and a market capitalization of $8.41 billion.
• The company reported earnings of $0.41 per share, missing estimates by $0.05, while revenue for the quarter was $168.74 million, up 11.5% year-over-year but below expectations.

Synovus Financial Corp boosted its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 28.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,939 shares of the technology company's stock after purchasing an additional 4,360 shares during the period. Synovus Financial Corp's holdings in The Descartes Systems Group were worth $2,011,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of DSGX. Wells Fargo & Company MN grew its position in The Descartes Systems Group by 42.9% during the 4th quarter. Wells Fargo & Company MN now owns 6,587 shares of the technology company's stock worth $748,000 after purchasing an additional 1,977 shares during the last quarter. NewEdge Advisors LLC grew its position in The Descartes Systems Group by 10.9% during the 4th quarter. NewEdge Advisors LLC now owns 3,427 shares of the technology company's stock worth $389,000 after purchasing an additional 336 shares during the last quarter. First Trust Advisors LP raised its position in The Descartes Systems Group by 24.4% during the 4th quarter. First Trust Advisors LP now owns 14,389 shares of the technology company's stock worth $1,635,000 after buying an additional 2,820 shares during the last quarter. Dimensional Fund Advisors LP raised its position in The Descartes Systems Group by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 111,643 shares of the technology company's stock worth $12,683,000 after buying an additional 2,839 shares during the last quarter. Finally, Voya Investment Management LLC purchased a new stake in shares of The Descartes Systems Group in the 4th quarter valued at $1,928,000. Hedge funds and other institutional investors own 77.73% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Barclays dropped 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 report on Thursday, June 5th. Wall Street Zen downgraded shares of The Descartes Systems Group from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Royal Bank Of Canada dropped 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 report on Thursday, June 5th. Finally, Morgan Stanley assumed coverage on shares of The Descartes Systems Group in a report on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $122.18.

The Descartes Systems Group Stock Down 0.0%

Shares of NASDAQ:DSGX traded down $0.05 during trading on Monday, hitting $99.95. 629,060 shares of the stock traded hands, compared to its average volume of 480,720. The company has a market cap of $8.59 billion, a price-to-earnings ratio of 60.21 and a beta of 0.80. The company has a fifty day moving average price of $102.37 and a two-hundred day moving average price of $104.38. The Descartes Systems Group Inc. has a 52-week low of $92.00 and a 52-week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its earnings results 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 firm had revenue of $168.74 million for the quarter, compared to analysts' expectations of $169.60 million. The Descartes Systems Group had a net margin of 21.67% and a return on equity of 10.53%. The Descartes Systems Group's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the firm earned $0.40 earnings per share. On average, equities research analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

The Descartes Systems Group 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.