The Descartes Systems Group Inc. $DSGX Shares Purchased by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in The Descartes Systems Group by 5.9%, owning 223,925 shares valued at approximately $22.5 million.
• Several institutional investors have recently increased their positions, resulting in 77.73% of the stock being owned by such entities.
• Analysts have issued mixed ratings for the stock, with a consensus rating of "Moderate Buy" and a price target of $122.18.

American Century Companies Inc. raised its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 5.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 223,925 shares of the technology company's stock after buying an additional 12,571 shares during the period. American Century Companies Inc. owned approximately 0.26% of The Descartes Systems Group worth $22,543,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new position in The Descartes Systems Group in the 1st quarter valued at approximately $25,000. GeoWealth Management LLC boosted its position in The Descartes Systems Group by 63.2% in the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock valued at $39,000 after buying an additional 132 shares during the period. Cullen Frost Bankers Inc. purchased a new position in The Descartes Systems Group in the 1st quarter valued at approximately $49,000. Optiver Holding B.V. purchased a new position in The Descartes Systems Group in the 4th quarter valued at approximately $66,000. Finally, Johnson Financial Group Inc. boosted its position in The Descartes Systems Group by 830.9% in the 4th quarter. Johnson Financial Group Inc. now owns 875 shares of the technology company's stock valued at $101,000 after buying an additional 781 shares during the period. Hedge funds and other institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Trading Up 1.8%

NASDAQ:DSGX traded up $1.78 during midday trading on Wednesday, hitting $99.70. 715,219 shares of the company were exchanged, compared to its average volume of 351,649. The company has a fifty day simple moving average of $102.34 and a 200 day simple moving average of $104.97. The Descartes Systems Group Inc. has a fifty-two week low of $92.00 and a fifty-two week high of $124.31. The company has a market capitalization of $8.56 billion, a PE ratio of 60.06 and a beta of 0.81.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.41 EPS 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 company had revenue of $168.74 million for the quarter, compared to analyst estimates of $169.60 million. During the same quarter in the prior year, the business earned $0.40 earnings per share. The Descartes Systems Group's revenue was up 11.5% compared to the same quarter last year. As a group, equities research analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Analyst Upgrades and Downgrades

DSGX has been the subject of several recent analyst reports. Royal Bank Of Canada decreased their price objective on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a research report on Thursday, June 5th. Morgan Stanley initiated coverage on shares of The Descartes Systems Group in a research report on Monday, July 14th. They set an "equal weight" rating and a $110.00 price objective for the company. Barclays decreased their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a research report on Thursday, June 5th. Finally, Wall Street Zen cut shares of The Descartes Systems Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. One equities research 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 company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $122.18.

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.