TD Asset Management Inc raised its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 1.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 913,866 shares of the technology company's stock after buying an additional 14,104 shares during the quarter. TD Asset Management Inc owned about 1.07% of The Descartes Systems Group worth $92,014,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Assetmark Inc. grew its holdings in The Descartes Systems Group by 19.2% during the 1st quarter. Assetmark Inc. now owns 11,045 shares of the technology company's stock valued at $1,114,000 after buying an additional 1,777 shares during the last quarter. Royce & Associates LP lifted its stake in shares of The Descartes Systems Group by 4.6% during the 1st quarter. Royce & Associates LP now owns 45,965 shares of the technology company's stock worth $4,635,000 after purchasing an additional 2,008 shares during the period. Homestead Advisers Corp lifted its stake in shares of The Descartes Systems Group by 4.6% during the 1st quarter. Homestead Advisers Corp now owns 73,170 shares of the technology company's stock worth $7,378,000 after purchasing an additional 3,200 shares during the period. Crestwood Advisors Group LLC purchased a new position in shares of The Descartes Systems Group during the 1st quarter worth $1,459,000. Finally, Wealth Alliance LLC lifted 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. Institutional investors and hedge funds own 77.73% of the company's stock.
The Descartes Systems Group Trading Down 0.2%
NASDAQ:DSGX traded down $0.18 during midday trading on Wednesday, hitting $106.37. 110,354 shares of the stock were exchanged, compared to its average volume of 331,901. The Descartes Systems Group Inc. has a one year low of $90.61 and a one year high of $124.31. The company has a market capitalization of $9.12 billion, a price-to-earnings ratio of 64.07 and a beta of 0.82. The business has a 50-day moving average price of $105.05 and a two-hundred day moving average price of $107.11.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.05). The business had revenue of $168.74 million during the quarter, compared to analyst estimates of $169.60 million. The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%. The company's quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 EPS. Sell-side analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.
Analysts Set New Price Targets
Several brokerages have recently weighed in on DSGX. Stephens lowered their target price on The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Morgan Stanley started coverage on The Descartes Systems Group in a research note on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price target for the company. Barclays decreased their price target on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a research note on Thursday, June 5th. Finally, Royal Bank Of Canada cut their target price 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. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $122.18.
View Our Latest Research Report on The Descartes Systems Group
About The Descartes Systems Group
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Free Report)
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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